• RCBC Housing Loan

    RCBC Housing Loan

    Purchasing a house or property is one of the biggest and most important decisions of an individual’s life. It is a decision which, if taken wisely, can prove to be one of the most secure investments. However, with every passing day, real estate prices are only increasing, making it difficult to purchase a house solely with one’s savings. That is where home loans come in useful. The RCBC Savings Bank Housing Loan is one of the most competitive housing loans available in the market which offers some of the lowest interest rates and flexible payment terms.

    The foundation of the RCBC Savings Bank was laid in 1996 and is the consumer banking subsidiary of the Rizal Commercial Banking Corporation (RCBC), one of Philippines leading banking and financial organizations.

    The RCBC Savings Bank started off with a modest one branch office, a number which has over the years expanded to 145 branches and 343 ATMs across the country. The range of services offered by the bank include deposit products, investments and auto, housing, SME and personal loan.


    You’re probably eligible for an RCBC Housing Loan if you are

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    RCBC Housing Loan Minimum Age

    At least 21 years old

     RCBC Housing Loan Maximum Age

    Less than 65 years old

    RCBC Housing Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    RCBC Housing Loan Minimum Income

    Earn more than the minimum
    income required


    Your RCBC Housing Loan amount eligibility is based on these factors

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    RCBC Housing Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    RCBC Housing Loan Maximum Loan to property value

    Loan capped 80% of the cost of property

    RCBC Housing Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligiblility for RCBC Bank Housing Loan amount by these steps

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    RCBC Housing Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    RCBC Housing Loan Maximum Tenure

    Choose longer tenure loan up to 20 years

    RCBC Housing Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an RCBC Housing Loan

    • 1.Duly filled housing loan application form
    • 2.Photocopy of ID such as driver's license, passport, SSS ID, Postal ID, PRC ID etc
    • 3. Copies of the last 6 months’ bank statements or deposit passbooks
    • 4.Documentation for salaried applicants:
      • Income Tax Return (ITR) copy with BIR or bank stamp of the last 1 year
      • Original copy of Certificate of Employment
      • Photocopy of last full month pay slip
    • 5. Documentation for self Employed applicants:
      • Photocopy of Business Certificate
      • Income Tax Return (ITR) copy with BIR or bank stamp

    RCBC Housing Loan Interest Rate and other DetailsUpdated on 05 Dec 2016

    RCBC Housing Loan Details
    Margin of Finance Up to 80%
    Tenure 20 years

    RCBC Savings Bank Housing Loan

    The RCBC Savings Bank Housing loan has been designed keeping in mind the diverse needs of the people. Customers may avail this loan for the purchase of a house, a lot, a condominium or a townhouse. Not just this, this housing loan can be used to repay an existing housing loan, to renovate an existing house and to construct a house.

    There are two types of home loans offered to all customers:

    Home Starter Loan Package

    This loan option is designed for customers who are purchasing a house or property for the first time. This package loan comes with a unique repayment feature where in a grace period of up to 12 months is given on amortization payments so that customers may integrate all improvements to their new home before the systematic amortizations begin.

    Home Budgeter Loan Package

    This loan option is designed for customers with an existing house who wish to ease their debt liability. This package allows customers to take a loan against the value of their house in order to settle other financial obligations or expenses like medical bills, tuition fee, travel etc.

    Product Features - RCBC Housing Loan

    1. Flexible and Easy Repayment: Customers can sign up for an ADA from their RCBC Savings Bank savings or salary account from where the amortization amount will automatically be deducted on a date that they choose.
    2. Competitive and Low Interest Rates: This loan offers one of the most competitive interest rates in the market, thereby helping you save more.
    3. Protection: This loan provides dual protection in the form of fire insurance. This insurance is issued by Malayan Insurance and Grepalife, for your house or on your property.
    4. Loan Amount: Subject to the applicants borrowing capacity, the minimum and maximum loan amount available with this loan is Php 300,000 and Php 10,000,000 respectively.
    5. Repayment Terms: Customers can avail flexible repayment terms for principal and interest with equal monthly amortizations.
    6. Loan Valuation:
      • For vacant lots / total contract price of condo unit accredited by RSB – Up to 70% of appraised value
      • House, lots and townhouses : Up to 75% of appraised value of lot with 60% appraised value of house
      • RSB-accredited house & lot / townhouses: Up to 80% of total contract price
      • Condominium units: Up to 60% of appraised value

    Eligibility for Application - RCBC Housing Loan

    All aspiring loan applicants must fulfil the below mentioned criteria to be eligible for the loan:

    • The applicant must be at least 21 years of age when applying for the loan
    • The applicant must not be more than 65 years on maturity of the loan
    • The applicant must be a Filipino citizen / former Filipino citizen eligible under BP 185 guidelines; non-Filipino nationals are eligible to apply for purchase of units covered by CCT
    • The applicant must have been a permanent employee for the last 1 year; 2 years for Overseas Filipino residents
    • Self-employed applicants for the loan must have had a minimum of 2 years of profitable business operations

    Documentation Requirements - RCBC Housing Loan

    Following are the application requirements for employed and self-employed individuals in the Philippines.

    For applicants who are employed:

    • Fully completed and signed Application Form from the RCBC Bank
    • COE or Compensation Certificate
    • Valid proof of identification issued by the government
    • TIN
    • Certificate of Residence
    • A photocopy of Tax Declaration, Tax Receipt and all other tax related documents
    • Vicinity map or location plan of the desired property
    • Building Plan and Bill of Materials (for construction)
    • Statement of Account

    For applicants who are self-employed:

    • Duly filled and signed Application Form from RCBC Bank
    • A copy of the ITR for the last two years
    • Financial Statement of last 2 years
    • Business Permit and Registration
    • Last 6 months Bank Statements
    • List of Business Suppliers/Customers and company profile
    • Property Documents

    Other Products from RCBC

    News About RCBC Housing Loan

    • RCBC Savings Projects a Spike of 20% in Loans This Year

      Buoyed by the increase in demand for auto and housing loans, RCBC Savings Bank expects a growth of 20 percent in its loan portfolio in 2016. The bank expects SME loans to make significant contributions to this growth. Sustained growth in the domestic automotive industry of over 20 percent in the last couple of years gives RCBC the confidence to expect solid growth in auto loans.

      The demand for housing loans in provinces continues to remain stable and OFW demand for housing has remained strong. The thrift bank wing of Rizal Commercial Banking Corp. also expects deposits grow by 20 percent during the current year. If posted a net income of P1.249 billion in 2015, a spike of 21 percent year on year. It must be noted that the loans segment grew 20 percent and the deposits portfolio posted a growth of 15 percent in 2015. As a part of its growth strategy, RCBC has plans to open 8 branches across provinces this year.

      26th February 2016

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