RCBC Home Loan 2024 Features & Application Process
RCBC HOME LOAN 2024 – Here is a guide on the features of the loan offer including the loanable amounts and the process on how to apply.
Banks are among the biggest entities with it comes to home loans. Several banks offer huge loanable amounts and one of them is Rizal Commercial Banking Corporation or more popularly called RCBC. It has several branches across the nation thus its services are really accessible to the public.
Aside from the RCBC Cash Loan offer, the bank also has the RCBC Home Loan that has helped countless individuals in achieving their goals to achieve a residential property of their own. Under the loan offer, the amount borrowed can be repaid for up to 20 years thus there is really an option for light monthly installments.
The RCBC Home Loan offer is ready to finance several loan purposes such as the following:
- vacant lot acquisition
- house and lot acquisition
- home refinancing
- house construction
- home renovation
You may also apply for the loan offer to obtain an amount for your cash needs by using your residential property as the collateral. The minimum loanable amount under the offer is Php 1 million. Here is a guide on how to apply for the loan offer:
Step 1 — Check the qualifications.
The list of the eligibility criteria in applying for the loan offer depends if you are employed or self-employed. Here are the qualifications for salaried individuals:
- Filipino Citizen or Dual Citizen or Foreigner married to a Filipino
- at least 21 years old upon loan application
- 65 years old or below upon loan maturity
- must have a mobile number and a residence or office landline
- has a minimum employment tenure of 1 year and minimum gross monthly income of Php 40,000
- If overseas Filipino worker (OFW), must have worked abroad for at least 2 consecutive years
In the case of the non-salaried individuals or those who are self-employed, here are the eligibility requirements that you must comply to be eligible to apply for the loan offer:
- Filipino Citizen or Dual Citizen or Foreigner married to a Filipino
- at least 21 years old upon loan application
- 65 years old or below upon loan maturity
- must have a mobile number and a residence or office landline
- business must be in profitable operations for the past 2 years
Step 2 — Prepare the requirements.
Make sure to gather all the requirements for the RCBC Home Loan application. The list of documents required by the bank also depends if you are employed or self-employed.
Step 3 — Submit the requirements.
Submit the required documents to a branch of RCBC nearest to you. Wait for an update from the bank regarding the result of your loan application.
