BDO vs RCBC

BDO vs RCBC: Interest Rate Comparison

Interest rate is usually the first thing borrowers look at — and here, BDO has a clear advantage. BDO's 1-year fixed rate comes in at 6.00% p.a., while RCBC's equivalent stands at 7.00% p.a. For home equity loans, BDO also offers 6.00% versus RCBC's higher 8.00%.

To put this in peso terms: on a 3,000,000 loan over 20 years, a 1% rate difference translates to roughly 23,000 to 28,000 pesos per year in additional interest — or over 400,000 pesos across the full loan term. Locking in the lower rate at refinancing can make a significant long-term difference.

Note: Interest rates are subject to change. Always verify current rates with the bank or through Nook before applying.

Eligibility and Income Requirements

Both BDO and RCBC require a minimum monthly income of 50,000 pesos, so they are on equal footing for baseline qualification. However, their debt-to-income (DTI) limits differ significantly.

BDO allows a maximum DTI of 40%, meaning borrowers can allocate up to 40% of their gross monthly income toward loan repayments. RCBC sets a stricter cap at 30%. This makes BDO more accessible for borrowers who already carry some existing obligations such as a car loan or credit card balance.

Accepted Employment Types

BDO accepts a broader range of employment types, which is a meaningful advantage for borrowers who do not fit the standard salaried profile. BDO covers Private employees, Government employees, BPO workers, OFWs and Seafarers, Self-Employed individuals, and Professionals.

RCBC accepts Private employees, OFWs and Seafarers, Self-Employed individuals, and Professionals — a slightly narrower set. Notably, RCBC does not list Government employees or BPO workers among its accepted employment types, which could disqualify a significant segment of Filipino borrowers.

For OFWs and self-employed professionals looking at all their options, it may also be worth reading our BDO vs Landbank comparison to see how government-backed lending stacks up.

Loan Purposes Covered

BDO supports a wide range of loan purposes: Home Equity, Foreclosed properties, New Construction, Pre-Selling, Ready For Occupancy (RFO), Renovation, Reselling, and Refinancing. This makes BDO a versatile choice whether you are buying, building, or refinancing.

RCBC covers Foreclosed properties, Home Equity, Pre-Selling, RFO, Refinancing, and Reselling. It does not list New Construction or Renovation among its supported purposes, which is worth noting if you are planning to build or improve your property.

Processing Speed

Speed matters when you are trying to lock in a low rate or close a property deal. BDO's typical approval timeline is 30 days, while RCBC takes approximately 49 days — nearly three weeks longer. If timing is a factor in your decision, BDO's faster turnaround is a meaningful advantage.

Keep in mind that actual processing times depend on the completeness of your documents and the complexity of your application. Applying through Nook helps streamline the process by ensuring your documents are in order before submission.

Refinancing with BDO or RCBC Through Nook

If you are currently paying 7% or higher on your existing home loan — which is common among Filipino homeowners — refinancing to BDO's 6.00% rate could generate meaningful monthly savings. On a 5,000,000 loan with 15 years remaining, moving from 8% to 6% could reduce your monthly payment by approximately 5,500 to 7,000 pesos, depending on your exact balance and remaining term.

Nook is the Philippines' first digital mortgage broker and partners directly with both BDO and RCBC. You can apply to either — or both — through Nook at zero cost to you. Nook compares your profile against all partner banks and recommends the best fit, so you do not have to do the legwork yourself.

If you want to see how BDO performs against other banks, check out our BDO vs Security Bank comparison for another data point before you decide.