Rizal Commercial Banking Corporation
RCBC MyCash Personal Loan lets you borrow from a minimum loan amount of PHP50,000 up to PHP1,000,000, easy payment terms of 6 to 36 months, and competitive interest rates at 1.30% per month.
1. Age
2. Time to review
3. Other conditions
Product Overview
| Product Name: | MyCash Personal Loan |
| Remarks: | Flexible and convenient |
| Minimum Amount of Loan: | 50,000.00 |
| Maximum Amount of Loan: | 1,000,000.00 |
| Minimum Loan Tenure: | 6 months |
| Maximum Loan Tenure: | 36 months |
Eligibility and Requirements
| Age Range of Borrower: | 21-70 years old |
| Minimum Annual Income: | PHP240,000.00 |
| Income Requirement Remarks: | Apply for as low as PHP20,000.00 gross monthly income |
| Employment / Work Status: | Permanent Employee for 2 years / 5 years Business Operations for Self-employed / 2 years of Practice for Professionals / Government Employee for 2 years |
| Borrower has to have Credit Card: | Yes |
| Guarantor Required: | No |
| Collateral Required: | No |
| Other Requirements: | Should have an existing credit card |
| Need to Open Linked Bank Account: | Yes |
Application and Approval
| Application Channel: | RCBC |
| Approval Duration: | 7 to 21 days |
| Approval Duration Remarks: | One week minimum process time |
Fees and Charges/Penalties
| Loan Processing and Dispersal Fees: | PHP1,500 processing fee or 1% loan amount, whichever is higher but will not exceed PHP5,000.00 |
| Early Repayment Penalty: | None if one month notice given |
| Late Payment Penalty: | 5% p.a. on any outstanding balance |
Interest Rates Offered
| Product Name: | Interest Rate | Effective Interest Rate | Interest Type |
|---|---|---|---|
| MyCash Personal Loan - 6 months | 1.30% | Monthly Rate | |
| MyCash Personal Loan - 12 months | 1.30% | Monthly Rate | |
| MyCash Personal Loan - 18 months | 1.30% | Monthly Rate | |
| MyCash Personal Loan - 24 months | 1.30% | Monthly Rate | |
| MyCash Personal - 36 months | 1.30% | Monthly Rate |
About RCBC
Rizal Commercial Banking Corporation is one of the most popular banks in the Philippines. RCBC operates under the license of the Central Bank of the Philippines for commercial and investment banks. The head office of RCBC is located in Makati City on Luzon Island. Today, the activities of this bank include such financial services as consumer lending, issuance of credit cards, investment banking, money transfers, asset management, etc.
History
The history of this bank began in 1960. In the first years of its existence, RCBC specialized exclusively in the Philippine market. However, several years after the establishment, this bank switched to the Philippine-Chinese financial services market. This activity is a priority to this very day.
The first branch of RCBC was opened in Manila in 1964 (Binondo district). In 1967, Alfonso Yuchengko, the founder of the YGC group of companies, became chairman of the board of directors of Rizal Commercial Banking Corporation. Yuchengko’s international relations allowed RCBC to establish cooperation with leading American and Japanese financial corporations. The international experience of the bank contributed to an increase of corporate clients, and cooperation with the United Finance Corporation of Japan opened the Japanese banking services market for RCBC.
In the 1980s, there was a significant expansion of RCBC and the opening of a large number of branches throughout the country. This bank continued to expand its influence in the key area of financial activity of the Philippines – export. Due to this, this institution has managed to establish long-term relationships with many foreign companies.
In 1986, RCBC successfully placed its shares on the Philippine Stock Exchange. A year later the range of services of this bank significantly expanded. Now customers have the opportunity to draw up mortgage loans, credit cards and use other popular banking services today.
Already in the 90s, the RCBC branch network expanded to 287 branches and 5 additional representative offices. Furthermore, this bank had its foreign representative offices in Hong Kong, the United States and Italy.
Bank property
Rizal Commercial Banking Corporation is the majority owner:
- YGC group of companies;
- one of the largest conglomerates of Southeast Asia Malayan Insurance;
- Philippine insurance company Sun Life Financial;
- construction company EEI Corp;
- best educational institutions of the Philippines;
- car dealerships.
RCBC also has several subsidiaries and divisions. In 1996, Sberbank RCBC was founded, providing deposit products, car loans, real estate loans and personal loans.
In 1998, RCBC Forex Brokers Corporation was established. This organization specializes in trading currencies and currency contracts.
RCBC Capital corporation was created to provide banking, consulting and investment services. The services of this organization include the underwriting of shares and securities for private or public placement. RCBC Capital also specializes in financial advisory services and loan syndication in the Philippine peso or national currency. The scope of activities of this subsidiary additionally includes market and corporate research, as well as the organization of traditional and electronic securities trading on the Philippine Stock Exchange.
Another subsidiary of Rizal Commercial Banking Corporation, Bankard Services Corp., was established to provide credit card services.
It is worth adding that RCBC also owns the microfinance organization Rizal Microbank. This organization has 15 representatives in Mindanao and Southern Luzon. In 2013, microfinance company Rizal Microbank became world-famous thanks to the opening of the first bank branch, built from recycled container vans.
Main branches and ATMs of RCBC
RCBC has offices in all major cities of the Philippines. You can find out the addresses of branches and ATMs of this financial institution on its official website. It is worth noting that most of the branches of this bank are open from 9:00 to 16:30. Some offices operate not only on weekdays, but also on Saturdays (from 9:00 to 13:00). The latest information on the working hours of a particular branch can be found on the official RCBC website.
ATMs of Rizal Commercial Banking Corporation allow to meet the financial needs of the clients of this bank round the clock. It is worth adding that the RCBC contact center works 24/7. Thanks to the help of professional employees of this bank, customers can quickly solve any financial issue.
Contacts
- Address: Yuchengco Tower, RCBC Plaza 6819 Ayala Avenue, Makati City 0727 Philippines
- Phone: (02) 779 6912
- Email: [email protected]
FAQ
Employed
- Accomplished Application Form
- Original Certificate of Employment or 2 months payslip or ITR
- Copy of 2 government issued IDs
- Copy of latest ITR
- Copy of one (1) month latest credit card billing
- Copy of one (1) utility bill
Self-Employed
- Completed and signed Application Form
- Copy of Business Papers
- Copy of most recent utility bill
- Copy of one (1) month latest credit card bill
- Copy of two (2) years financial statements with ITR
- Copy of latest 6 months bank statements
You can pay your monthly amortizations through Automatic Debit Arrangement (ADA) with your RCBC savings or checking account or Post-Dated Checks (PDCs) or over-the-counter payment .
Applicant must be between 21 – 65 years of age, current credit card members of Mastercard, Visa, Amex, JCB with minimum of 2 years membership, with owned (2 years) or rented (3 years) residence. If employed, applicant must be at least of middle management, with a minimum of 2-year tenure, and employed among the top 10,000 corporations. If Self-employed, business must be at least 5 years in operation, and profitable for the last 2 years.
You can claim your RCBC personal loan via Manager’s Check.
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