RCBC vs SB Finance: Home Loan Overview
Rizal Commercial Banking Corporation (RCBC) is one of the Philippines' major universal banks, offering a full suite of home loan products including purchase, construction, and refinancing. SB Finance, formerly known as Security Bank Finance Corporation, operates as a non-bank financial institution and subsidiary of Security Bank, focused on consumer lending including home loans.
When it comes to refinancing, understanding the differences between these two lenders matters — the wrong choice could cost you hundreds of thousands of pesos over your loan term. Below we compare them across the factors that matter most.
Interest Rate Comparison
| Feature | RCBC | SB Finance |
|---|---|---|
| Indicative Fixed Rate (1-year) | 7.50% – 8.50% p.a. | 7.75% – 9.00% p.a. |
| Indicative Fixed Rate (3-year) | 8.00% – 9.00% p.a. | 8.25% – 9.50% p.a. |
| Indicative Fixed Rate (5-year) | 8.50% – 9.50% p.a. | 8.75% – 10.00% p.a. |
| Best Rate via Nook | 5.99% p.a. | |
Rates above are indicative ranges based on publicly available information and are subject to change. Your actual rate will depend on your loan amount, property value, income, and credit profile. Note that the 5.99% p.a. rate available through Nook is dramatically lower than what either bank typically advertises directly — this is the power of having a digital mortgage broker compare the full market for you.
Monthly Repayment Comparison
To illustrate the real-world impact of rate differences, here's a monthly repayment comparison for a 3,000,000 peso home loan over a 20-year term:
| Rate Scenario | Monthly Repayment | Total Interest Paid |
|---|---|---|
| RCBC at 8.00% p.a. | 25,093 | 3,022,320 |
| SB Finance at 8.50% p.a. | 26,036 | 3,248,640 |
| Nook best rate at 5.99% p.a. | 21,490 | 2,157,600 |
On a 3,000,000 peso loan over 20 years, choosing the Nook best rate over a typical RCBC rate saves approximately 3,603 pesos per month and over 864,000 pesos in total interest. Compared to SB Finance's higher end, the savings are even greater — over 1,091,000 pesos across the loan term.
Fees and Charges
| Fee Type | RCBC | SB Finance |
|---|---|---|
| Processing Fee | Approximately 5,000 – 10,000 pesos (varies) | Approximately 5,000 – 8,000 pesos (varies) |
| Appraisal Fee | Charged to borrower | Charged to borrower |
| Documentary Stamp Tax | Borrower's account | Borrower's account |
| Early Repayment Penalty | Typically 2%–3% of outstanding balance within lock-in period | Typically 3%–5% of outstanding balance within lock-in period |
| Nook Broker Fee | Free — Nook charges borrowers nothing | |
SB Finance's early repayment penalties tend to run on the higher side, which is worth factoring in if you're the type of borrower who might want to pay off your loan ahead of schedule. RCBC's terms are generally more flexible in this regard.
Loan Parameters
| Parameter | RCBC | SB Finance |
|---|---|---|
| Minimum Loan Amount | 300,000 pesos | 500,000 pesos |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 70%–80% of appraised value |
| Loan Term | Up to 25 years | Up to 20 years |
| Eligible Property Types | House and lot, condominium, townhouse, vacant lot | House and lot, condominium, townhouse |
| Refinancing Available | Yes | Yes |
RCBC offers a slightly longer maximum loan term (25 years vs 20 years), which can mean lower monthly repayments if that's your priority. If you're comparing other digital-era lenders, you may also want to read our GoTyme vs SB Finance home loan comparison to see how SB Finance stacks up against a newer entrant.
Eligibility Requirements
| Requirement | RCBC | SB Finance |
|---|---|---|
| Minimum Age | 21 years old | 21 years old |
| Maximum Age at Loan Maturity | 70 years old | 65 years old |
| Employment Status | Employed, self-employed, OFW | Employed, self-employed, OFW |
| Minimum Employment Tenure | 2 years (employed); 3 years (self-employed) | 2 years (employed); 3 years (self-employed) |
| OFW Eligibility | Yes, with co-borrower requirements | Yes, with co-borrower requirements |
RCBC allows borrowers to be up to 70 years old at loan maturity, giving older borrowers slightly more flexibility on term length. SB Finance's cutoff at 65 may be restrictive for applicants in their mid-40s or older who want a 20-year term.
Application Process
RCBC offers both branch-based and online application channels. Their home loan team is generally responsive, and as a universal bank they have the infrastructure to handle complex cases including co-borrowers, self-employed applicants, and OFW scenarios. Processing times typically run 5–15 business days depending on document completeness.
SB Finance has invested in digital application processes, making it reasonably straightforward to apply online. However, as a non-bank financial institution, it has fewer physical touchpoints than RCBC, which can matter if you prefer in-person support during the process.
Nook streamlines the entire process by submitting your application to multiple lenders simultaneously, giving you competing offers without the need to approach each bank separately. The whole process is managed digitally and is completely free for borrowers.
Which Should You Choose?
For most refinancers, RCBC is the stronger standalone choice between the two — it offers longer terms, broader eligibility, more property types, and generally competitive rates for a traditional bank. SB Finance is a reasonable secondary option, particularly for borrowers already within the Security Bank ecosystem.
However, the most important takeaway is that both banks' rates are significantly above what Nook can access. If your goal is to reduce your monthly repayment and total interest cost — which is the whole point of refinancing — the smartest move is to let Nook compare the full market, including RCBC, and surface the best available deal. There is no cost to you for this service.
If you're also evaluating other lenders in this space, our PBCOM vs Sterling Bank home loan comparison covers two other mid-tier options worth knowing about.
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Compare My Options →Frequently Asked Questions
Is RCBC or SB Finance better for home loan refinancing?
RCBC generally has the edge for refinancing due to its longer maximum loan terms (up to 25 years), wider property eligibility, and broader branch network for support. SB Finance is a viable option but tends to carry higher indicative rates and shorter maximum terms. That said, both banks are significantly more expensive than the 5.99% p.a. rate currently available through Nook, so comparing your options through a broker is strongly recommended.
What is the current home loan rate at RCBC?
RCBC's indicative home loan rates typically range from around 7.50% to 9.50% p.a. depending on the fixing period selected (1, 3, or 5 years) and your borrower profile. Rates are subject to change and your actual rate may differ. For comparison, Nook can access rates as low as 5.99% p.a. from its panel of lenders.
What is the current home loan rate at SB Finance?
SB Finance's indicative home loan rates typically range from around 7.75% to 10.00% p.a. depending on the fixing period and borrower profile. Their rates tend to run slightly higher than RCBC. Always confirm current rates directly with SB Finance or through a broker like Nook.
How much can I save by refinancing through Nook instead of going directly to RCBC or SB Finance?
The savings can be substantial. On a 3,000,000 peso loan over 20 years, refinancing at 5.99% p.a. through Nook instead of a typical RCBC rate of 8.00% p.a. saves approximately 3,603 pesos per month — or over 864,000 pesos across the full loan term. Compared to SB Finance's higher rates, the saving is even larger. Use Nook's free refinancing service to calculate your exact savings.
Does SB Finance offer refinancing for existing home loans?
Yes, SB Finance offers home loan refinancing for qualified borrowers. You can refinance an existing loan from another bank to SB Finance. However, be aware of any early repayment penalties from your current lender before switching, as SB Finance's own lock-in penalties are also on the higher side relative to some competitors.
Is Nook's home loan refinancing service really free?
Yes, completely free for borrowers. Nook earns a referral fee from the bank when a loan is settled — you pay nothing for Nook's service. You get access to multiple lender offers, expert guidance, and a streamlined application process at zero cost.
Can OFWs apply for a home loan refinancing through RCBC or SB Finance?
Yes, both RCBC and SB Finance accept OFW applicants for home loans, typically with co-borrower requirements. RCBC's infrastructure for OFW applications is generally more established given its size. Nook can also help OFWs compare offers across multiple lenders to find the most suitable terms for their situation.
What documents do I need to refinance my home loan?
Standard documents for home loan refinancing in the Philippines include a valid government-issued ID, proof of income (payslips or ITR for employed; financial statements for self-employed), employment certificate, existing loan statement of account, and property documents (TCT/CCT, tax declaration). Nook's team can guide you through the exact document checklist for each lender on their panel.