Interest Rates Comparison
BPI Family Savings Bank Rates
- 1-Year Fixed Rate: 6.70% p.a.
- 5-Year Fixed Rate: 6.50% p.a.
- Home Equity Loan: 6.70% p.a.
RCBC Rates
- 1-Year Fixed Rate: 7.00% p.a.
- Home Equity Loan: 8.00% p.a.
BPI Family Savings Bank clearly offers more competitive rates across all loan types, with savings of 0.30% on 1-year fixed rates and 1.30% on home equity loans compared to RCBC.
Loan Requirements Comparison
| Requirement | BPI Family Savings Bank | RCBC |
|---|---|---|
| Minimum Monthly Income | ₱40,000 | ₱50,000 |
| Maximum Debt-to-Income Ratio | 40% | 30% |
| Typical Approval Time | 52 days | 49 days |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, OFW/Seafarer, Self-Employed, Professional |
BPI Family Savings Bank offers more flexible requirements with a lower income threshold of ₱40,000 versus RCBC's ₱50,000, making it accessible to more Filipino families. The higher DTI ratio of 40% also provides greater borrowing capacity.
Loan Purposes and Property Types
BPI Family Savings Bank
- Foreclosed Properties
- Home Equity Loans
- New Construction
- Pre-Selling Units
- Ready For Occupancy (RFO)
- Refinancing
- Renovation
- Reselling
RCBC
- Foreclosed Properties
- Home Equity Loans
- Pre-Selling Units
- Ready For Occupancy (RFO)
- Refinancing
- Reselling
BPI Family Savings Bank supports a wider range of loan purposes, including new construction and renovation loans, giving borrowers more flexibility in their property financing needs.
Monthly Payment Comparison
For a ₱3,000,000 loan over 20 years:
BPI Family Savings Bank (6.50% fixed)
Monthly Payment: ₱22,294
Total Interest: ₱2,350,560
RCBC (7.00% fixed)
Monthly Payment: ₱23,265
Total Interest: ₱2,583,600
Monthly Savings with BPI: ₱971
Total Interest Savings: ₱233,040 over the loan term
Choosing BPI Family Savings Bank can save you nearly ₱1,000 monthly and over ₱230,000 in total interest costs. For homeowners currently paying higher rates, refinancing with BPI could provide substantial savings.
Why Choose Nook for Your BPI or RCBC Application
Both BPI Family Savings Bank and RCBC are trusted Nook partner banks, which means you get:
- 100% Free Service: No fees for borrowers
- Expert Guidance: Professional mortgage brokers handle your application
- Streamlined Process: We manage documentation and follow-ups
- Rate Comparison: Access to multiple bank offers
- Dedicated Support: Personal assistance throughout the process
Interest rates are subject to change and borrowers should verify current rates. Nook helps you secure the best available rates from our partner banks.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which bank has better interest rates, BPI or RCBC?
BPI Family Savings Bank offers better interest rates with 6.50%-6.70% compared to RCBC's 7.00%-8.00%. This translates to significant monthly and lifetime savings for borrowers.
What are the minimum income requirements for BPI vs RCBC housing loans?
BPI Family Savings Bank requires a minimum monthly income of ₱40,000, while RCBC requires ₱50,000. BPI's lower requirement makes it more accessible to Filipino families.
How long does loan approval take for BPI and RCBC?
RCBC has a slightly faster approval time at 49 days compared to BPI Family Savings Bank's 52 days. Both banks offer reasonable processing times for housing loan applications.
Which bank allows higher debt-to-income ratios?
BPI Family Savings Bank allows up to 40% debt-to-income ratio, while RCBC limits it to 30%. The higher DTI ratio at BPI provides greater borrowing capacity for qualified applicants.
Can I refinance my existing housing loan with BPI or RCBC through Nook?
Yes, both BPI Family Savings Bank and RCBC are Nook partner banks that offer refinancing options. Nook provides free broker services to help you secure the best refinancing rates from either bank.
What employment types do BPI and RCBC accept for housing loans?
BPI Family Savings Bank accepts private employees, government workers, BPO employees, OFWs/seafarers, self-employed, and professionals. RCBC accepts private employees, OFWs/seafarers, self-employed, and professionals but doesn't specifically mention government and BPO workers.