Rizal Commercial Banking Corp. (RCBC) continues to empower individuals with its newest flexible digital loan solution to help them thrive financially with RCBC Salary Loan NOW.
RCBC Salary Loan NOW is the Bank’s latest digital loan offer for RCBC payroll customers that they can exclusively avail via RCBC Pulz. This offer enables pre-qualified clients to borrow up to P100,000, payable up to 12 months.
Application takes only a few seconds and loan proceeds are instantly credited to the employee’s RCBC payroll account. Loan payment is convenient since the monthly amortization is automatically debited on their scheduled payroll date, and tailored to the number of payroll credits per month.
“We want to shift borrowing from informal lenders, such as ATM sangla, (a practice where the employee gives his/her ATM Card as a guarantee to the person he/she is borrowing from), and move them to RCBC, a proper financial channel. This way, the employees do not need to pay for exorbitant rates provided by loan sharks,” Arniel Vincent B. Ong, Head of RCBC Credit Cards and Personal Loans.
Last year, the bank introduced RCBC Payday NOW, a facility that allowed payroll customers to effortlessly advance up to 40 percent of their monthly salaries, also through RCBC Pulz.
Funds are received in real-time and repayment automatically occurs in two paydays or a maximum of 45 days.
