Maya Bank vs RCBC: Home Loan Overview
Before diving into the numbers, it's worth understanding where each lender is coming from. Maya Bank (formerly PayMaya) is the Philippines' first digital bank to offer a full range of financial products and is backed by the Voyager Innovations group. Its home loan offering is relatively new and targets digitally savvy borrowers who prefer app-based processes. RCBC (Rizal Commercial Banking Corporation), on the other hand, is one of the Philippines' largest universal banks with decades of experience in home lending, a broad branch network, and a full suite of mortgage products including purchase loans, construction loans, and refinancing.
If you're exploring your options beyond these two lenders, you may also find our comparison of Asia United Bank vs Tonik home loan rates useful, especially if you're weighing traditional banks against newer digital lenders.
Interest Rates Compared
| Feature | Maya Bank | RCBC |
|---|---|---|
| Indicative Fixed Rate (1-year) | ~7.50% – 8.50% p.a. | ~6.75% – 7.75% p.a. |
| Indicative Fixed Rate (3-year) | Limited availability | ~7.25% – 8.25% p.a. |
| Indicative Fixed Rate (5-year) | Limited availability | ~7.50% – 8.50% p.a. |
| Variable/Repricing Rate | Subject to BSP benchmark | Subject to RCBC board rate |
| Best Refinance Rate via Nook | 5.99% p.a. | |
Note: Rates shown are indicative ranges based on market data and are subject to change. Your actual rate will depend on your loan-to-value ratio, credit profile, and the bank's current offerings. Always confirm with the lender directly or apply through Nook to get your actual rate.
Loan Amount & Term
| Feature | Maya Bank | RCBC |
|---|---|---|
| Minimum Loan Amount | ~500,000 | ~1,000,000 |
| Maximum Loan Amount | ~10,000,000 (indicative) | Up to 80% of appraised value |
| Loan-to-Value Ratio | Up to 70%–80% | Up to 80% |
| Maximum Loan Term | Up to 20 years | Up to 20 years |
Monthly Payment Illustration
To make the rate difference tangible, here's how monthly payments compare on a 3,000,000 peso loan over 20 years at different interest rates:
| Rate Scenario | Monthly Payment (approx.) | Total Interest Paid (approx.) |
|---|---|---|
| 8.50% p.a. (high-end bank rate) | 26,035 | 3,248,400 |
| 7.50% p.a. (mid-range bank rate) | 24,169 | 2,800,560 |
| 6.75% p.a. (RCBC competitive rate) | 22,936 | 2,504,640 |
| 5.99% p.a. (Nook best rate) | 21,494 | 2,158,560 |
Switching from a rate of 8.50% to 5.99% on a 3,000,000 loan could save you approximately 1,089,840 pesos in interest over 20 years — that's nearly 4,542 pesos saved every month. Nook's service is 100% free to you as the borrower.
Fees & Charges
| Fee | Maya Bank | RCBC |
|---|---|---|
| Processing Fee | Varies; check with Maya Bank | ~10,000 – 20,000 (non-refundable) |
| Appraisal Fee | Charged separately | ~3,500 – 6,000 |
| Documentary Stamp Tax | Borrower's account | Borrower's account |
| Mortgage Registration Fee | Borrower's account | Borrower's account |
| Early Repayment Penalty | Subject to terms | Typically 2%–3% within fixed period |
| Annual Fee | None (digital model) | None |
Fee structures change frequently. Always request a full disclosure statement before signing any loan agreement.
Application Process & Approval Time
| Criteria | Maya Bank | RCBC |
|---|---|---|
| Application Channel | Primarily digital/app-based | Branch, online, or via broker |
| Document Submission | Digital upload | Physical + digital options |
| Credit Evaluation | Proprietary digital scoring | Traditional credit assessment |
| Indicative Approval Time | 5–10 business days (indicative) | 7–14 business days (indicative) |
| Loan Release Timeline | Subject to title verification | Subject to title verification |
Maya Bank's digital-first approach can be appealing for borrowers who prefer minimal branch visits, but RCBC's established process means loan officers with deep mortgage experience are available to guide you through complex cases. When you apply through Nook, a dedicated mortgage specialist handles the paperwork and bank coordination on your behalf — for free.
Refinancing: Can You Do Better Than Both?
If you already have a home loan — whether with Maya Bank, RCBC, or any other lender — there's a good chance you're paying more than you need to. Most Filipino homeowners are currently on rates between 7% and 10%, often because they accepted the initial rate without shopping around, or because their fixed period has expired and they've rolled into a higher variable rate.
Refinancing through Nook means we do the shopping for you across multiple banks and surface the best available rate. Right now, that rate is as low as 5.99% p.a. — significantly below what most borrowers are currently paying. If you're comparing digital lenders in particular, our analysis of CIMB vs PBCOM home loan rates may also give you useful context on how newer entrants price their products.
Nook's refinancing service is completely free to borrowers. We are compensated by the bank, not by you.
Who Should Choose Maya Bank?
- Borrowers who are already Maya ecosystem users and prefer a fully digital experience
- Those with smaller loan requirements who value app-based convenience
- Tech-forward borrowers comfortable with a newer lender still scaling its mortgage product
Who Should Choose RCBC?
- Borrowers who want an established lender with a long home loan track record
- Those who need higher loan amounts or more complex loan structures (e.g., construction, house-and-lot)
- Borrowers who prefer in-person support from experienced branch staff
- Anyone seeking competitive fixed-rate periods of 3–5 years
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Does Maya Bank offer home loans in the Philippines?
Yes, Maya Bank has been expanding its loan product suite as a licensed digital bank under the Bangko Sentral ng Pilipinas. However, its home loan offering is still relatively new compared to traditional banks like RCBC. Availability and product features may evolve, so it's worth confirming the current offer directly with Maya Bank or through a broker like Nook.
How does RCBC's home loan rate compare to other banks?
RCBC is generally considered competitive among Philippine universal banks, with rates that typically fall in the 6.75% to 8.50% p.a. range depending on the fixed period and borrower profile. However, through Nook's multi-bank comparison, borrowers can sometimes access rates as low as 5.99% p.a. — lower than what RCBC publicly advertises.
Can I refinance my existing RCBC or Maya Bank home loan?
Yes. If you currently have a home loan with either RCBC or Maya Bank, you can refinance to a different lender offering a lower rate. Nook specializes in exactly this — comparing rates across multiple banks and handling the paperwork so you don't have to. The service is free to you as the borrower.
What documents do I need to apply for a home loan with RCBC?
Typical requirements include a government-issued ID, proof of income (payslips or ITR for employed borrowers, financial statements for self-employed), a copy of the Transfer Certificate of Title (TCT), a tax declaration, and a fully accomplished application form. RCBC may have additional requirements depending on your loan purpose. Nook can help you prepare and organize all necessary documents.
How much can I borrow for a home loan through RCBC?
RCBC typically lends up to 80% of the appraised value of the property. The minimum loan amount is around 1,000,000 pesos. The actual amount you qualify for will depend on your income, existing liabilities, and the bank's credit assessment.
Is there a penalty for paying off my RCBC home loan early?
Yes, RCBC typically imposes an early repayment penalty of around 2% to 3% of the outstanding balance if you settle within the fixed-rate period. Once the fixed period ends and the loan reprices, penalties may be reduced or waived. Always confirm the exact penalty terms in your loan agreement before refinancing.
How does Nook's refinancing service work?
Nook is the Philippines' first digital mortgage broker. You submit your details once, and Nook compares rates across multiple partner banks to find the best deal for your situation. Nook handles the application, document preparation, and bank coordination on your behalf. The service is 100% free to borrowers — Nook is paid by the bank, not by you.
How much can I save by refinancing from a 8% rate to 5.99%?
On a 3,000,000 peso loan with 20 years remaining, refinancing from 8.00% to 5.99% p.a. would reduce your monthly payment from approximately 25,093 to 21,494 pesos — a saving of about 3,599 pesos per month, or roughly 863,760 pesos over the remaining loan term. Your actual savings will depend on your loan balance, remaining term, and any refinancing fees.