Guide on RCBC Corporate Loan Requirements for Employees Application Process
RCBC CORPORATE LOAN REQUIREMENTS – Here is a guide for the employees of the accredited companies on the loan offer.
There are banks in the Philippines that offer accreditation to companies that want to widen the access of their employees to financial solutions. One of these banks is Rizal Commercial Banking Corporation or more popularly called RCBC.
The RCBC is one of the long-standing banks in the Philippines. It has personal loan offers including the RCBC Auto Loan, the RCBC Home Loan, and the RCBC Cash Loan. It also has corporate loan offer which is non-collateral and deductible from the salary of the employees.
Under the corporate loan offer of Rizal Commercial Banking Corporation, an employee of an accredited company may borrow anywhere within this range:
- Minimum Loanable Amount — Php 20,000.00
- Maximum Loanable Amount — Php 1 million
The loan is payable in 6, 12, 18, 24, 30, 36, 48 or 60 monthly installments. The bank assures affordable interest rates under the offer.
Who are qualified to apply for the Salary Loan offer as an employee? Here are the RCBC Corporate Loan requirements set by the bank for employees of the accredited companies:
- regular employees with at least 2 years tenure
- Filipino or permanent resident alien, 21 to 65 years old upon loan maturity
- with minimum gross monthly income of P10,000
- amortization should not be more than 30% of Gross Monthly Income
Documentary Requirements. There are only a few documentary requirements for the RCBC Corporate Loan offer application. Here are the documents that you must prepare and submit to your HR or the RCBC in applying for the loan offer:
- duly-accomplished and signed RCBC Corporate Salary Loan Application Form
- signed 3 copies of Promissory Note and Disclosure Statement
- photocopy of company ID and valid photo-bearing government-issued ID with birthdate and signature
- photocopy of latest one-month payslip
