MyCash Personal Loan
|Product Name:||MyCash Personal Loan|
|Minimum amount of loan:||PHP100,000.00|
|Maximum amount of loan:||PHP500,000.00|
|Minimum loan tenure:||6 months|
|Maximum loan tenure:||36 months|
Eligibility and Requirements
|Age range of borrower:||18-120 years old|
|Minimum annual income:||PHP240,000.00|
|Income requirement remarks:|
|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|
|Need to open linked bank account:||YES|
Application and Approval
|Approval duration:||7 to 21 days|
|Approval duration remarks:|
Fees and Charges/Penalties
|Loan processing and dispersal fees:||PHP 1500 dispersal fee, plus stamp duty|
|Early repayment penalty:||None if one month notice given|
|Late payment penalty:||5% p.a. on any balance outstanding|
Interest Rates Offered
|Product Name:||Interest rate||Effective interest rate||Interest type|
|MyCash Personal Loan - 6 Months||1.20% -1.20%||fixed Interest Rate|
|MyCash Personal Loan - 12 Months||1.20% -1.20%||fixed Interest Rate|
|MyCash Personal Loan - 18 Months||1.20% -1.20%||fixed Interest Rate|
|MyCash Personal Loan - 24 Months||1.20% -1.20%||fixed Interest Rate|
|MyCash Personal Loan - 36 Months||1.20% -1.20%||fixed Interest Rate|
What are the required documents to apply for an RCBC personal loan?
- Accomplished Application Form
- Original Certificate of Employment/2 months payslip
- 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
- 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 either through over-the-counter payment, or check.
What are the eligibility requirements for RCBC personal loan application?
- Applicant must be between 21 - 60 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.