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RCBC Bankard loan calculator

RCBC Bankard loan calculator online in the Philippines in 2022. How to figure out the loan yourself? A handy tool that will show whether you can pay off a loan, help you choose lending with affordable payments.

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Calculate the loan at RCBC Bankard
Interest rates are given in accordance with the rates of the RCBC Credit Cards in Manila as of 01.12.2022
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10000 ₱
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Loan term
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months
days
3
60
Annualized Rate
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17.9160 %
21.6480 %
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RCBC Bankard is one of the Philippines' leading credit card issuers, offering Visa, MasterCard, JCB, and CUP credit cards. RCBC Bankard credit cards include Visa Infinite RCBC Bankard and World Mastercard RCBC Bankard credit card, among others. The company registered and rechristened its cards from Bankard to RCBC Bankard in 2007, which was the pinnacle of a collaboration between Bankard and banking industry stalwart Rizal Commercial Banking Corporation (RCBC) that began in 2000 and ended in December 2006 with the sale of the whole Bankard corporate and all of its holdings to RCBC. Corporation RCBC is regulated by the Bangko Sentral ng Pilipinas (BSP) financial consumer protection department.

About RCBC Bankard

Bankard is recognized for being the first card issuer to create a catalogue-free rewards program and a streamlined installment conversion feature. This option allows members to convert their retail purchases to installments simply by calling the RCBC Bankard customer service and accessing their credit limit. Cardholders can also take advantage of flexible payment terms through the RCBC Bankard installment program, which offers 0% interest insta;lments and users can also use their easy to apply cash loan.

Rizal Commercial Banking Corporation is primarily owned by the Yuchengco Group of Companies (YGC), one of South East Asia's oldest and most prominent businesses. With almost a half-century of expertise, RCBC has grown to become one of the significant private domestic banks in the country, with a statewide network of branches and ATMs. RCBC Savings Bank has just amalgamated with RCBC. Before applying for the RCBC Bankard credit cards, please, ensure that you are eligible as an applicant. The Securities and Exchange Commission licenses the RCBC Bankard credit card services.

The bank also provides its users with a personal loan and cash advance facility for emergency cash needs. To avail this, they should have a minimum gross monthly income of ₱20,000. There is no need for a guarantor or PDC. Borrow loan sums ranging from ₱50,000 to ₱1,000,000 at a fixed annual rate of 16.08%. You can return the loaned money in as little as six months and up to 3 years. The complete loan application procedure, including funds disbursement, takes roughly 5 - 7 banking days. You can use the online loan calculator provided by the bank to forecast how much your loan may cost.

What is an RCBC Bankard loan calculator?

The RCBC Bankard loan calculator computes the projected borrowing cost and the monthly payment amount. Input the required loan amount to calculate the projected monthly amortization for various tenors.

How does the RCBC Bankard loan calculator work?

Suppose you're thinking about a Rizal Commercial Banking Corporation Bankard loan for debt consolidation, a cash loan, a house loan, or an auto loan. In that case, you'll probably want to know how much your loan will cost over time. The RCBC Bankard loan calculator can help you understand the costs of borrowing money from a bank and how loan payments fit into your budget. It considers your selected loan amount, repayment period, and interest rate. You'll see an estimated monthly payment and some extra information that will help you understand how your overall loan finances will look.

Remember that the RCBC loan payment calculator only gives you an estimate based on your submitted information. Loan costs, such as prepayment penalties, processing fees, and origination charges, can increase your expenses or decrease your loan amount. The RCBC loan calculator does not consider any other mortgage-related expenses, such as homeowners insurance or property taxes, which may influence your monthly mortgage payment. Here's more information on the data you'll need to calculate your monthly loan payment.

RCBC Bankard loan calculator inputs

Selling price

This is the selling or purchase price of the residence. Begin by determining the total purchase price of the home you wish to acquire. If you don't have a specific property, you can experiment with other amounts to discover how much you can spend. If you want to make an offer on a property, the calculator can help you determine how much you can pay.

Fixing option

This is only available in the RCBC home loan calculator and determines your interest rate. It indicates how long you want your interest rate to be fixed. The lower your interest rate, the shorter the length of the loan. You can choose a fixed rate for up to 20 years or as little as one year.

Loan period

This is the time frame for repaying a loan. The lower the monthly payment, the greater the overall interest rate, and the longer the time. The lower the interest rate and the higher your monthly payment, the shorter the time. You can use this calculator section to balance reasonable monthly payments and a shorter term.

Downpayment

This is the money you pay to purchase a home or an automobile, expressed as a percentage of the total loan amount. The quantity of your down payment can influence your interest rate. If you make a larger down payment, RCBC usually provides cheaper rates. The bank would take downpayments ranging from 20% to 80%.

Loan amount

The loan amount refers to the money borrowed from a bank for a RCBC personal loan. Because the bank does not provide 100% financing, it usually differs from the purchase price. The loan-to-value ratio must also be considered. This value is determined by dividing the purchase price by the loan amount. The RCBC personal loan has a minimum loan amount of ₱50,000 and a maximum credit amount of ₱1,000,000.

RCBC Bankard loan calculator outputs

Total loan amount

The calculator will display the total amount of your loan here. It deducts your downpayment percentage from the selling price you previously provided and shows the result in figures so you can view your loan amount.

Downpayment

The tool will convert the previously provided downpayment percentage into values. This will allow you to see exactly how much you are paying.

Interest rate

The interest rate on an RCBC loan is influenced by various factors, including the number of fixed periods chosen in the RCBC house loan. The lower the interest rate, the shorter the fixed term chosen. Furthermore, other factors such as the customer's credit history, the type of papers used, and so on can influence the rate. The interest rates displayed on the RCBC loan calculators are the bank's average interest rates. This amount can change during the loan application process, but it will remain close to what is represented in the calculator.

Monthly Payment

RCBC determines a predetermined repayment amount to a lender on a specific day each calendar month. Monthly payments are used to pay the interest rate and principle until the loan is paid off entirely over a certain period. After entering all necessary information, such as your desired loan amount, loan length, and interest rate, the monthly payment will be displayed, indicating the amount you are likely to pay at the end of each month.

RCBC Bankard loan calculator formula

The RCBC calculator employs the following mathematical formula to calculate monthly payments:

M = [P x R x (1+R)^N]/[(1+R)^N -1] 

Where:

RCBC loan calculators consider your loan principal, downpayment, interest rate, and repayment term. The total amount owing, including principal, interest, and fees (late payment penalty, processing fee, etc.), is paid out in equal installments over the life of your loan. Although your term can vary, you should expect to make 12 payments every year. You can always contact the RCBC customer service for more queries. The type of loan you want determines your required loan calculator.

Types of RCBC Bankard loan calculator

The RCBC website has three loan calculators:

RCBC Bankard home loan calculator

The RCBC home loan is available to a Filipino national, dual citizen, and foreigner married to a Filipino. Applicants must be at least 21 years old at the time of loan application and no more than 65 years old at the time of loan maturity. They must have a mobile number and a house or office landline, a minimum employment tenure of one year, a minimum gross monthly income of ₱40,000, and, if an OFW, they must have worked abroad for at least two years in a row. For self-employed applicants, they must be Filipino citizens or dual citizens. If you are a foreigner, you must marry a Filipino citizen. Must be at least 21 years old at the time of loan application and no more than 70 years old at the time of loan maturity. A mobile phone number and a home or office landline are required, with the business operating successfully for the last two years.

RCBC Bankard offers a minimum loan amount of ₱300,000 and up to 80% of the value of the property you pick as collateral for its house loan. By acquiring your credit evaluation from credit assessment agencies, the bank will examine your financial ability to pay and your character as a borrower. With an RCBC home loan, you can buy a lot, a house and a lot, a townhouse, or a condominium unit. You can renovate your present house, construct a new home, and then refund the money you spent on the property. If you feel it would give you financial relief, RCBC savings bank allows you to use this loan to pay off an existing mortgage. 

Before applying for a loan, you can use the home loan calculator to determine the total loan amount, down payment amount, interest rate, and monthly payment.

How it works

You can use their house loan calculator to calculate your monthly payment or do it manually if you're ready to do some arithmetic. Here is the traditional formula for calculating your monthly mortgage payment by hand:

M = {P[(1+R)^(Nx12)]}/[(1+R)^(Nx12) -1]

Where: 

To use the RCBC calculator to determine your monthly payment, follow the steps below:

  1. Visit the RCBC website, and move your pointing arrow icon to the Personal section.

  2. Click on Home loan.

  3. Navigate to the Calculate your loan section to find the calculator.

  4. Enter your selling price, the years you want your interest to be fixed, and the loan term.

  5. Decide on a down payment percentage and move the blue right pointing arrow icon to your preferred percentage.

  6. The tool will instantly display your total loan amount, downpayment - in digital form, interest rate, and, most crucially, monthly payment.

RCBC Bankard car loan calculator

The RCBC car loan is available to locally employed Filipino nationals or dual citizens at least 21 years old at the time of loan application. They must be at least 65 years old at the time of loan maturity, have a mobile phone number and home or office landline, with a minimum employment tenure of one year and a minimum gross monthly income of ₱40,000. Self-employed applicants must be Filipino nationals or dual citizens, at least 21 years old at the time of loan application, and no more than 70 years old at the time of loan maturity. Must have a mobile phone number and a residence landline or office landline, with the business operating successfully for the last two years.

With low yearly interest rates and changeable loan amounts, the RCBC car loan is widely available to consumers in the Philippines. Applicants can profit from purchasing a new car or refinancing their existing vehicles for cash with quick loan installments. RCBC provides a minimum loan amount of ₱300,000, a maximum loan amount of 80%, and easy payment terms of up to 60 months. Customers have the option of cheap monthly amortization, flexible and worry-free insurance coverage for the entire loan term, free insurance coverage for the first year of their loan term, free chattel mortgage charges, and a low downpayment. The car might be brand new or old.

How it works

You can estimate your monthly payment using their car loan calculator or do it manually if you're willing to perform some arithmetic. The typical formula for calculating your monthly loan payment by hand is as follows:

M = {P[(1+R)^N]}/[(1+R)^N -1]

Where: 

To use the RCBC calculator to determine your monthly payment, follow the steps below:

  1. Visit the RCBC website, hover your cursor over Personal, and then click on Car loans.

  2. Navigate to the Calculate your loan section to find the calculator.

  3. Enter your selling price and the loan period.

  4. Decide on a downpayment percentage.

  5. The tool will instantly display your total loanable amount, downpayment - in digital form, interest rate, and, most importantly, monthly payment.

RCBC Bankard personal loan calculator

The RCBC personal loan is intended for locally employed Filipino nationals or dual citizens who are 21 years old at the time of loan application and no more than 65 years old at the time of loan maturity. They must have a one-year minimum job tenure and a minimum gross monthly income of ₱40,000 or more. Self-employed applicants must have a cell phone, audited financial accounts, an RCBC account, an office landline, Mayor's permit, business papers, a residence landline, and a utility bill. If you have emergency financial needs, you can get the help you need by applying for an RCBC personal loan. You can borrow up to ₱1 million to satisfy short-term or long-term needs and repay it in monthly amounts that you choose.

You can borrow as little as ₱50,000 and as much as ₱1,000,000, and your application will be approved within 5 to 7 banking days. You can also pay in monthly payments of six, twelve, twenty-four, or thirty-six. The loan offers a favourable interest rate as low as 1.3% and is ideal for vacations, home improvements, education, and other loan consolidation.

How it works

Customers can use the RCBC personal loan calculator to estimate their monthly payments' borrowing costs. Input the amount of money you want to borrow and the loan term you choose, and the tool will calculate and display the monthly amortization right away. The typical formula for calculating your monthly RCBC personal loan payment by hand is as follows:

M = [P x R x (1+R)^N]/[(1+R)^N -1] 

Where:

To use the RCBC Bankard calculator to determine your monthly RCBC personal loan payment, follow the steps below:

  1. Visit the RCBC website, hover your cursor over Personal, and then click on Personal loans.

  2. Navigate to the Calculate your loan section to find the calculator.

  3. Enter your loan amount and the loan period.

  4. The tool will instantly display your total RCBC personal loan amount, interest rate, and, most importantly, monthly payment.

What are the benefits of using an RCBC Bankard loan calculator?

Below are some of the benefits you get when you use the RCBC Bankard loan calculator:

It is simple to use

One of the most significant advantages of the RCBC Bankard loan calculator is its ease of use. It is easy to use and walks you through each step. RCBC values the comfort and clarity of its consumers, which is why they have gone above and beyond to guarantee they understand how to use the loan calculators. You are not required to visit a bank branch. Navigate to the RCBC Bankard loan webpage. Enter the loan amount, interest rate, and repayment period. In addition, the bank offers on-call or in-person support with loan computations and other aspects of the loan application procedure.

It produces accurate results

The precision of the results is one of the most significant advantages of utilizing the RCBC Bankard loan calculator. When manually calculating the loan monthly payment amount, there is always the chance of making errors. You are not compelled to use pen and paper and risk miscalculating the payment amount. You also don't have to sit and play about with different effective interest-rate combinations, desired loan rates, and loan tenures on your own. You can save time using the RCBC Bankard loan calculator, which delivers accurate and immediate answers for various loan options in minutes or seconds. The algorithm allows you to experiment with different gross income levels and change the factors affecting your loan without negatively affecting your credit score.

It provides easy comparison

You can calculate the interest and principal owing amount for various loan amounts and periods using the RCBC Bankard loan calculator without damaging your credit score. Soft enquiries are simple to conduct. You are not required to hire someone to perform these calculations and comparisons on your behalf. This allows you to try out numerous lending choices rapidly. You can also select a loan amount compatible with your monthly financial commitments, day-to-day expenses, and overall lifestyle. Remember that you are not obligated to accept the first RCBC Bankard loan plan suggested by the calculator, and you are free to explore as many options as you like.

Functions of RCBC Bankard loan calculators

Below are some of the functions a user may likely encounter while using the tool:

Brackets

Brackets are a collection of symbols that, like parentheses, are used to surround a group of words, things, services, or variables. Any terms included in brackets must be viewed as a group. In the tool, for example, we have the equation (1+R)(Nx12), where (1+R) and (Nx12) are enclosed in brackets, suggesting that they must be considered as one.

Multiplication

We multiply by adding equal groups or items, which increases the number of things in the group. RCBC Bankard loan calculators also employ this function when the loan duration is multiplied by 12. (Nx12).

Raising to power

Simply speaking, raising anything to power involves multiplying it by several times. Powers are equivalent to repeated multiplication, just as multiplication is equivalent to repeated addition. This also happens when using the tool; for example, when it raises a function to the power of the loan term [(1+R)^N], this function becomes applicable. It is denoted by (^).

Addition

The process of determining the total, or sum, by adding two or more variables is known as an addition (must be on the consent of all the variables). RCBC Bankard loan calculators employ this function throughout the computation process, such as when adding one and the interest rate (1+R).

Example of calculations using an RCBC Bankard loan calculator

Example 1

If you want a personal loan of ₱800,000for 36 months, let’s see your monthly payment after inputting the data above in the RCBC Bankard calculator.

Example 2

How about a ₱70,000 loan for 12 months?

Inputting these in the calculator, we have:

How to perform complex calculations using an RCBC Bankard loan calculator?

Let’s see what our monthly payment will be if we get an RCBC Bankard home loan with the following terms:

Inputting the above data into an RCBC Bankard home loan calculator, we have:

For more information on the loans, please call RCBC Bankard customer service hotline or the Pilipinas BSP for inquiries.