Guide on the RCBC Loan Interest Rate Under the Personal Loan Offer
RCBC LOAN INTEREST RATE – Here is an idea on the possible interest rate that Rizal Commercial Banking Corporation implements on its personal loan.
Undeniably, among the several types of loans that are offered to the people, what seems very appealing is the personal loan. A lot of banks offer it including the RCBC.
The best thing about the personal loan offer is its flexibility when it comes to the purpose it serves. You may apply for it to fund a wedding, to buy a new laptop, to pay for the electricity bills, etc.
With regards to the RCBC Personal Loan, it is entitled “MyCash”. It is open for everyone who qualifies the following qualifications set for eligibility according to the bank:
General Eligibility Qualifications:
- Current holder of Philippine-issued credit cards for at least 2 years
- With owned (2 years) or rented (3 years) residence
- At most 65 years old if employed or 70 years old if self-employed upon loan maturity
If Employed:
- At least of middle management
- Regualrly employed for at least 2 years
- Employer among top 10,000 corporations or a legitimate company operating for at least 5 years
- Business must be at least 3 years in operation
If Self-employed:
- Business must be at least 5 years in operation
- Profitable for the last 2 years
Based on the official website of Rizal Commercial Banking Corporation, under the personal loan offer, the client may loan a minimum of Php 50,000.00 and a maximum of Php 1,000,000.00. The term of payment is from six(6) months to 36 months.
With regards to the RCBC Loan Interest Rate under the personal loan offer, based on iMoney Philippines, the annual interest rate is at Php 16.08% for the 0.5 to three(3) years of loan tenure.
Furthermore, the monthly add-on RCBC loan interest rate is at 1.40%. Based on the article, the approval for the loan application may take between five(5) to seven(7) working days.
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