MyCash Personal Loan
RCBC MyCash Personal Loan lets you borrow from a minimum loan amount of Php50,000.00 up to Php1,000,000, easy payment terms of 6, 12, 18, and 36 months, and competitive interest rates at 1.50% per annum. 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: | 21-60 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: | |
| Approval Duration: | 7 to 21 days |
| Approval Duration Remarks: | One week minimum process time |
Fees and Charges/Penalties
| Loan Processing and Dispersal Fees: | PHP1,500.00 dispersal fee, plus stamp duty |
| 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 | 1.50% | Monthly Add-On Rate | |
| MyCash Personal Loan - 12 months | 1.50% | Monthly Add-On Rate | |
| MyCash Personal Loan - 18 months | 1.50% | Monthly Add-On Rate | |
| MyCash Personal Loan - 24 months | 1.50% | Monthly Add-On Rate | |
| MyCash Personal Loan - 36 months | 1.50% | Monthly Add-On Rate |
FAQ
What are the required documents to apply for an RCBC personal loan?
Employed
- 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
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 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.
Find other personal loan offers from other banks below:
BDO Personal Loan provides quick cash and flexible payment terms. Apply for a loan amount ranging from PHP10,000 up to PHP3,000,000 payable within 1 up to 3 years for as low as 1.25% per month. To apply, you must earn at least of PHP15,000 per month only.
With HSBC Personal Loan, you can have the cash when you need it - fast and easy. For a minimum monthly income of PHP15,000 you can apply for a loan amount of up to PHP500,000 with 1.21% monthly interest rate. Flexible payment terms of 12 months up to 36 months.
Citi Personal Loan offers low interest rate and flexible payment options for your cash needs. You can choose a loan amount anywhere from a minimum of PHP20,000 up to PHP2,000,000 with minimum interest rate of 1.26% per month. Available payment terms are from 12 months up to 60 months. Minimum required income per month to be eligible for this loan is PHP20,000 only.
