RIZAL COMMERCIAL BANKING CORPORATION (RCBC)

The Rizal Commercial Banking Corporation (RCBC) was established in 1960 as a development bank and is licensed by the Bangko Sentral ng Pilipinas (BSP) for both commercial and investment banking. It is one of the largest universal banks in the Philippines with total consolidated resources of Php 516.6billion as of end-2015.

CONSUMER LOANS

HOUSING LOANS

Are you about to start a family? My Home can help you get started with financing your dream home. With a minimum loan amount of P300, 000.00, you can start on building that home for
you and your loved ones.

My Home Loan can be utilized for:

• Buy a lot, house & lot, condominium unit, or townhouse
• Take out of existing home loan
• Construct your house
• Renovate your home
• Reimburse/Refinance

Features

• Counseling: RCBC Savings Bank will give you top-notch advice, including where to buy your property and what are your best options to pay your amortization.
• Convenience: Get an Automatic Debit Arrangement (ADA) with your RCBC Savings Bank savings or checking account so you don’t need to keep going to the bank to pay your monthly amortization.
• Protection: You’re covered with fire insurance from Malayan Insurance Co., Inc. and mortgage redemption insurance from Sun Life Grepa Financial.
• Minimum loan amount: Php 1,000,000 for acquisition of property, Php 300,000 for other purposes
• Maximum loan amount: Subject to borrower’s paying capacity
• Interest Rate: Prevailing rate at the time of the loan release
• Loan Valuation:

Up to 70%of appraised value of vacant lots

Up to 80%of appraised value for house & lot, townhouses, and condominium units

Collateral: Registered 1st Real Estate Mortgage on property

• Property located nationwide within service areas of RCBC & RCBC Savings Bank branches
• Minimum floor area of 50 sqm for land with improvement and 25 sqm for condominiums
• Mortgage Redemption Insurance: Sun Life Grepa Financial
• Fire Insurance: Malayan Insurance Co., Inc
• Repayment Mode: Automatic Debit Arrangement, Post Dated Checks, and Over-the-Counter
• Repayment Terms: Equal monthly amortization representing principal and interest

Special Packages

My Home Budgeter Loan

Ideal for existing homeowners who want to lighten their debt burden by borrowing against the value of their home to pay-off and/or consolidate financial obligations and consumption-related expenses, e.g. tuition, travel, hospitalization, etc.

Eligibility

1. At least 21 years old upon loan application
2. At most 65 years old if employed or 70 years old if self-employed upon loan maturity
3. Filipino citizen or former Filipino citizen under BP 185 guidelines
4. Foreign nationals holding immigrant visa or married to a Filipino are eligible if purchasing a unit covered by CCT.
5. Permanently employed for at least 1 year; 2 consecutive years for OFWs
6. If self-employed, business must be in profitable operations for the last 2 years

Application Requirements

Employed

1. Accomplished Application Form
2. Certificate of Employment and Compensation
3. Valid Government IDs
4. TIN
5. Photocopies: TCT, Tax Declaration, Tax Receipt, Tax Clearance
6. Location plan/vicinity map of property
7. Building plans/bill of materials (for construction)
8. Statement of account (for takeout of existing housing loan)
9. Marriage Contract or Birth Certificate

Self-Employed

10. Accomplished Application Form
11. Copy of last 2 years ITR
12. Latest 2 years Financial Statements
13. Business registration/permits
14. List of suppliers and customers
15. Company profile, property documents
16. Location plan/vicinity map of property
17. Marriage Contract or Birth Certificate