Guide on RCBC Home Loan Application Process
RCBC HOME LOAN APPLICATION – Here is a guide on how to apply for the loan offer and the requirements needed for the application.
In the Philippines, banks are among the lenders when it comes to meeting purposes related with residential property acquisition. One of the Home Loan providers in the country is Rizal Commercial Banking Corporation.
More popularly called RCBC, its Home Loan offer can finance a vacant lot and a residential unit acquisition, house construction, home renovation, and refinancing of an existing home loan.
Under the loan offer, up to P1 million is loanable and the bank only sets a 20% downpayment. The maximum loan term is 20 years at a minimum interest rate of 7% per month.
Are you planning to go for an RCBC Home Loan application? It is best to observe the application process to avoid wasting time, money, and energy.
Step 1 — Qualifications. To be eligible to apply for the loan offer, the client must be a Filipino, a dual citizen, or a foreigner married to a Filipino and is at least 21 years old upon the loan application. There must be sufficiant proof of a stable income as well.
Step 2 — Requirements. Prepare the documents required by the RCBCin applying for the loan offer. Here are the documents needed for the application:
- duly-accomplished RCBC Home Loan Application Form
- copy of TCT and Tax Declaration (Land & Improvement)
- Bill of Materials (For the purpose of house construction)
- If Employed:
- Certificate of Employment (COE) or latest ITR
- 2 valid government-issued IDs
- Tax Identification Number (TIN)
- Utility bill
- If Self-Employed:
- Business Registration with DTI
- Audited Financial Statements
- ITR or bank statements
Step 3 — Application. Go to a branch of Rizal Commercial Banking Corporation (RCBC) nearest to the property and submit your documents to file your loan application. The approval duration may take between five (5) to seven (7) working days.
