RCBC personal loans go digital

RCBC personal loans go digital

MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) has debuted its latest innovation this 2024, integrating personal loans in its all-in-one digital banking app RCBC Pulz.

RCBC Personal Loans are simple, instant, and customizable loan products that can be used for multiple purposes, featuring flexible loan amounts and competitive interest rates. In line with the bank’s commitment to deliver superior digital experiences, RCBC allows Filipinos to apply for the loan anytime, anywhere and get instant approval, with the loan proceeds to be immediately disbursed to their RCBC Pulz accounts. The digitized loan service is initially available to eligible RCBC depositors and will soon be rolled out to all customers.

With this feature, customers can now skip the long application and approval process of brick-and-mortar banks by using RCBC Pulz to apply and get loans real-time. Usually, clients have to wait five to seven banking days for their loan applications to be processed and approved.

The bank allows users to apply for loans for a wide range of purposes such as home renovations, career development, personal vacations, educational needs, fitness and lifestyle aspirations, medical expenses and financial empowerment.

RCBC Pulz can be downloaded through the Google Playstore and Apple App Store, and users can open an account with just one government ID. Overseas Filipino workers (OFWs) can also open bank accounts using any international mobile number through the app.

RCBC president and CEO Eugene Acevedo said RCBC Personal Loans alleviate key challenges Filipinos face in the borrowing process, emphasizing that this new offering is geared toward empowering our kababayans and leveling the playing field by providing more competitive, beneficial loan packages to a broader market.

“Filipinos fear debt, high interest rates, and long waiting times for loans. It is no surprise that many seek informal methods such as borrowing from friends and relatives. With RCBC Personal Loans, Filipinos finally get access to a loan system that is fast and hassle-free,” said Acevedo.