MyCash Personal Loan
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. This multi-purpose loan allows you to settle your financial obligations and meet your personal needs. Plus, get financial advice on the best way to save and use your money.
eCompareMo lets you compare all the personal loan rates available on the market to help you find the best one for your needs.
You can also check out other RCBC Loan products here.
Product Overview
| Product Name: | MyCash Personal Loan |
| Remarks: | Flexible and convenient |
| Minimum Amount of Loan: | PHP50,000.00 |
| Maximum Amount of Loan: | PHP1,000,000.00 |
| 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 Loan - 36 months | 1.30% | Monthly Rate |
FAQs
What are the required documents to apply for an RCBC personal loan?
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
What are the modes of payment?
- 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 .
What are the eligibility requirements for RCBC personal loan application?
- 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.
How do I claim my RCBC personal loan proceeds?
- You can claim your RCBC personal loan via Manager’s Check.