Interest Rates Comparison
BDO Unibank
1-Year Fixed: 6.00%
Home Equity: 6.00%
RCBC
1-Year Fixed: 7.00%
Home Equity: 8.00%
BDO clearly wins on interest rates, offering 1.00% lower rates on fixed loans and 2.00% lower on home equity loans. On a 3,000,000 loan over 20 years, this rate difference saves approximately 240,000 in total interest payments.
Approval Requirements
| Requirement | BDO | RCBC |
|---|---|---|
| Minimum Monthly Income | 50,000 | 50,000 |
| Maximum DTI Ratio | 40% | 30% |
| Typical Approval Time | 30 days | 49 days |
Both banks require the same minimum income, but BDO allows higher debt-to-income ratios, making it more accessible for borrowers with existing obligations. BDO also processes applications significantly faster.
Employment Type Eligibility
BDO accepts: Private employees, Government workers, BPO staff, OFW/Seafarers, Self-Employed, Professionals
RCBC accepts: Private employees, OFW/Seafarers, Self-Employed, Professionals
BDO has broader employment eligibility, specifically including Government employees and BPO workers that RCBC doesn't explicitly cover.
Loan Purpose Flexibility
BDO supports: Home Equity, Foreclosed properties, New Construction, Pre-Selling, RFO, Renovation, Reselling
RCBC supports: Foreclosed properties, Home Equity, Pre-Selling, RFO, Refinancing, Reselling
Both banks offer comprehensive loan purposes, with BDO adding renovation and new construction options while RCBC explicitly includes refinancing. For comparison with other major banks, see our BDO vs Metrobank analysis.
Monthly Payment Comparison
For a 5,000,000 refinance over 20 years:
- BDO (6.00%): Monthly payment of approximately 35,820
- RCBC (7.00%): Monthly payment of approximately 38,760
- Monthly savings with BDO: 2,940
- Total interest savings over 20 years: 705,600
The rate advantage compounds significantly over the loan term, making BDO's offering substantially more cost-effective.
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Compare My Options →Frequently Asked Questions
Which bank offers lower home loan rates - RCBC or BDO?
BDO offers significantly lower rates at 6.00% for both 1-year fixed and home equity loans, compared to RCBC's 7.00% fixed and 8.00% home equity rates. This 1-2% difference can save hundreds of thousands over the loan term.
How do RCBC and BDO compare for refinancing approval speed?
BDO processes refinancing applications in approximately 30 days, while RCBC typically takes 49 days. BDO's faster processing means you can secure your new rate and start saving sooner.
What are the income requirements for RCBC vs BDO home loans?
Both banks require a minimum monthly income of 50,000. However, BDO allows a maximum debt-to-income ratio of 40% while RCBC limits this to 30%, making BDO more accessible for borrowers with existing debts.
Can I refinance with RCBC or BDO if I'm an OFW?
Yes, both RCBC and BDO accept OFW and seafarer applications for home loan refinancing. Both banks understand the unique income patterns of overseas workers and have processes in place to accommodate them.
How much can I save by refinancing from a 9% rate to BDO or RCBC?
Refinancing a 3,000,000 loan from 9% to BDO's 6.00% rate saves approximately 7,200 monthly and 1,728,000 over 20 years. With RCBC's 7.00% rate, you'd save about 5,400 monthly and 1,296,000 total - still significant but less than BDO's offering.
Do RCBC and BDO charge prepayment penalties for refinancing?
Prepayment penalty terms vary by loan product and timing. When applying through Nook's free broker service, we help you understand all fees and penalties upfront, ensuring you make an informed refinancing decision with either bank.