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RCBC business loans for february 2024

Get a business loan at RCBC. On 22.02.2024 there are 2 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.
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Corporate salary loans
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Corporate loans
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RCBC business loans for february 2024

Taking a loan is one of the most common ways to get funds, which may be used to purchase a car, a home, or establish a small business, among other things.

To avoid errors, it is best to obtain a loan only from a recognized and regulated financial institution when in desperate need. This would include banks approved by the SEC to provide Filipino lending services. Applying for a loan with the Rizal Commercial Banking Corporation, or RCBC, is one of the best alternatives in this respect among different banks.

What is an RCBC business loan?

RCBC loans are entirely financed by the RCBC bank, a prominent universal bank in the Philippines that offers a diverse range of market-leading goods and services, including business and consumer lending. RCBC provides fair interest rates and simple repayment alternatives to help you fund any of your personal or commercial needs. These requirements might include college costs, house remodeling, purchasing furniture, home appliances, gadgets, travel, debt repayment, and other special events, beginning your own business, obtaining extra funds for development, or engaging in other commercial operations.

The Yuchengco Group of Companies (YGC), one of Southeast Asia's oldest and largest conglomerates with over 60 firms, owns most of the Rizal Commercial Banking Corporation. It is the country's leading private domestic bank by assets, with approximately 444 branches and 2,492 ATMs and ATM units as of the end of March 2022. It is one of the largest private domestic banks in the Philippines. The Rizal Commercial Banking Corporation (RCBC), founded in 1960, is one of the Philippines' central universal banks. Its headquarters are located at G/F, Yuchengco Tower, RCBC Plaza, 6819 Ayala Avenue, Makati City, Manila. RCBC provides various financial products and banking solutions to meet various borrowing needs, including personal, home, and vehicle loans. Depending on the bank's credit evaluation of your playing ability, you may be allowed to borrow a total loan of up to ₱1,000,000 to meet your financial obligations.

Corporate loans

Corporate loans and corporate wage loans are included in this category.

Corporate loans

RCBC provides the following corporate loans:

  • Rizal Biz access line. A "short-term revolving credit line" is intended to provide additional operating capital.

  • Revolving credit line. Its goal is to meet a company's general working capital needs.

  • Standby Letters of Credit. It attempts to give credit to suppliers, distributors, and retailers with guaranteed payments on items requested.

  • Import and domestic letters of credit. With this offer, the seller would be assured payment as long as the bidder followed the requirements.

  • Trust receipt financing. According to the bank, the purpose of this business loan offer is to provide clients with ample time to process and sell their products under favorable conditions.

  • Export Advance and Foreign Bill Purchase Facility. This loan offer intends to give an amount sufficient to finance exports.

  • Shipping guarantee. With this loan offer, the company will receive financial assistance while customer collections are pending.

  • Medium and long-term business loans. This loan offer is the first step in expanding or developing a firm by expanding, upgrading, or acquiring new equipment or facilities.

Corporate salary loans

Salary loans are non-collateralized, salary-deductible credit lines available to workers of qualified businesses. Employees are given extra perks with RCBC salary loans, including access to cash loans ranging from ₱20,000 to ₱1,000,000. These loans include low-interest rates and flexible payment durations of 6, 12, 18, 24, 30, 36, 48, and 60 months.

How to apply?

A gadget with Internet connectivity may be used to apply for an RCBC loan (personal loans are processed in the bank). A loan applicant should gather all the requirements and submit their application correctly. An RCBC loan application can be made at the bank by filling out a loan form or online by visiting the bank's official website.

Applying at an RCBC branch

To get started with the application process:

  • Proceed to the RCBC branch closest to you.

  • Ask for a loan form. Request a form carrying the loan structure you're interested in.

  • Find out the requirements.

  • Fill out the form if you're eligible.

  • Submit the form with the requirements.

Applying online

To begin the application procedure, navigate to the bank's official website. Find the menu. Now that you've decided on a loan package, select either personal or business loans. It is preferable to become acquainted with the specifics of the loan of one's choice, particularly its conditions.

Please, fill out the form, attach the relevant papers, and submit it.

What are the main requirements for getting an RCBC loan?

RCBC loan requirements are often determined by the loan offer that an individual is willing to accept, and various offers have varying requirements.

Corporate loans are accessible to Filipino residents between the ages of 21 at the time of application and 70 at the time of loan maturity. Applicants are expected to demonstrate a stable source of income, whether from a regular wage or a company. The following documents must be supplied for processing and evaluation:

  • Proof of identity, i.e., birth certificate, government-issued IDs

  • Proof of income, i.e., cash flow report, latest payslips.

  • Proof of business registration, i.e., SEC or DTI Registration, Mayor's Permit.

  • Collateral documents

  • Proof of residence or residence certificate.

Eligibility for companies

Must be a corporation that has existed for at least five years and a company registered under the Securities and Exchange Commission is only eligible to apply. It has to have been profitable in the previous three years and have at least 50 regular workers.

Eligibility for employees

Applicants must be:

  • Regular employees for over two years at least

  • Filipino or permanent resident foreigner

  • 21 years old at least at the point of application and less than 65 years old upon loan maturity

  • Earning a minimum gross monthly income of ₱10,000

  • First monthly amortization should not be more than 30% of gross monthly income.

Corporate salary loans

The following are the eligibility criteria for applying for a salary loan.

For self-employed individuals

  • SEC Certificate of Registration Company Accreditation Application Form

  • By-Laws and Articles of Incorporation

  • The most recent General Information Sheet

  • Financial statements for the last three years that have been audited

  • Income during the last three years

  • Returns on taxes

  • Company Information

For employed individuals

  • Regular employees with at least two years of employment tenure.

  • Filipino or permanent resident foreigner.

  • 21 years of age at application and below 65 years of age upon loan maturity.

  • A minimum gross monthly income of ₱10,000.

  • Amortization should not be more than 30% of gross monthly income.

Document required

As an employer, you will need to present the following documents:

  • Company accreditation

  • Application form

  • Certificate of registration from the Securities and Exchange Commission

  • Articles of Incorporation and By-Laws

  • Latest General Information Sheet

  • Latest three years of audited financial statements

  • Latest three years of income

  • Tax returns

  • Company profile.

As an employee, you will need to present the following documents:

  • Filled out and signed the salary loan application form

  • Signed three copies of the promissory note and disclosure statement

  • Photocopy of company ID and valid photo-bearing government-issued ID with birthdate and signature

  • Photocopy of the latest one-month payslip.

How to repay?

Borrowers can return their RCBC loans by going to their local bank and paying their payments. Aside from that, there are over 2,500 M. Lhuillier branches around the Philippines, and borrowers may now use M. Lhuillier's offline bill payment services to settle their RCBC vehicle loans, house loans, or personal loans. For loan payments, you can use the ML Kwarta Padala (KP) form, which is accessible at all M. Lhuillier locations. Fill out the ML KP Form with the following payment information for bill payment.

  • Company Name: RCBC Consumer Loans

  • Account Name: Name of the Borrower

  • Account Number: Loan Account No.

  • Contact No: Mobile Number/Contact Information

  • Amount: Amount of payment and whatever other details are needed.

One can also settle monthly RCBC dues via RCBC online banking. Just do a one-time enrollment as the biller and proceed to pay your bill.

Pros and cons

When contemplating taking out a loan, it is essential to understand the advantages and disadvantages of such a loan to determine if you're capable of taking it.


  • Given its time around, RCBC has market experience.

  • The RCBC is an award-winning bank in the Philippines.

  • There's a wide array of products and services from which Filipinos can choose. Its flexible payment terms are a bonus.


  • RCBC loans require the individual to have a higher monthly gross income to avail of the loans.

  • Personal loans are to be processed in the bank as they are not available online.

According to the SEC, if a lender wants to offer loans to Filipinos, all the loan agreements must specify general terms that define the legal obligations of each party. The repayment schedule, contract breach, interest rate, loan security, and collateral must be clearly outlined.

  • Involved parties. This refers to the borrower and the lender. Their personal information should be clearly stated in the loan agreement. The information would typically include both sides' names, addresses, social security numbers, and phone numbers.

  • Choice of law. It is required where the loan agreement cuts across laws in two or more jurisdictions. This is where the laws governing a specific part of a loan agreement may differ from the same law in another jurisdiction. It is crucial to determine which laws will apply.

  • Severability clause. This means that the terms of each contract are independent of each other. Hence, if one condition of the contract is deemed unenforceable by a court, it doesn't imply that every requirement is unenforceable.

  • Entire agreement clause. This term defines the final agreement, and it supersedes any previous agreements that were made during negotiations, whether written or oral. In other words, it is the final say, so anything said or written before no longer applies.

The actual cost of an RCBC loan

The smallest loan amount available to an individual is ₱50,000, and they can borrow up to ₱1,000,000. The loan amount, however, is subject to bank approval and is calculated depending on the income verification provided.

The effective interest rate for cash loans in the Philippines typically ranges from 1.25% to 15%. The EIR is the rate used to calculate the cost of borrowing money. The following fees and costs are included in the EIR:

  • Monthly interest charge. This could vary depending on the loan offer in which one has taken an interest. However, the personal loan interest is at a fixed rate of 16.08% per annum, with a 1.40% per month add-on. The interest rate is applied to the total amount owed, including any unpaid personal loan fees and levies. Borrowers continue to pay interest until the loan sum is paid in full, compounded monthly.

  • Processing fee. The processing charge for an RCBC loan offer is ₱1,500 for a loan of ₱150,000.00 or 1% of the approved loan amount above ₱150,000, which is deducted from loan revenues.

  • Late payment fee. The late payment fee is 5% of the amount owed yearly, or ₱300 whichever is greater.

  • Returned check fee. In RCBC loans, the returned check cost is ₱500 per returned check.

  • Bank Certification fee. The certification fee for an RCBC loan is ₱100 per request.

  • Documentary stamp tax fee. The documentary stamp tax for RCBC loans is ₱1.00 for every ₱200.00 over the loan amount authorized loan amount or fraction thereof, whichever is greater. Applicable to approved loan amounts of more than ₱250,000 or business purposes.


RCBC provides a one-stop shop for Filipinos searching for a reliable source of financial services. With decades of delivering good service to Filipinos on its side, choosing which bank to go to for a loan should be a simple option.

Applying for an RCBC loan is simple and may be completed independently. The RCBC loan is an excellent way to obtain finances. Another benefit of RCBC loans is their cheap monthly amortization.

There is, however, a pressing need to understand how a loan would influence your finances before asking for one, especially if the lender's interest rates are high. This may be accomplished by utilizing the loan calculator on the bank's website.

If you have any questions about RCBC lending facilities, you may contact any of their nearby locations or their official website to learn more. Contact the bank via the domestic toll-free numbers listed on its website.