RCBC
Digital Personal Loan

1. RCBC Personal Loan is a multi-purpose financing facility for personal consumption (examples: school-related expenses, travel, car repair, home improvements, debt consolidations) that may be availed only by individuals that meet the loan qualifications, have submitted an application form and required documents, and have been approved based on credit evaluation.
2. "RCBC" is Rizal Commercial Banking Corporation and “RCBC Bankard Services Corporation” is the entity servicing the Personal and Salary Loans business of RCBC and implementing all actions pertaining to RCBC Personal and Salary Loans for and on behalf of RCBC.
3. As used herein, the words “I”, “My”, ‘Me”, “You” and “Yours” shall refer to the Personal Loan borrower, whose name will be indicated in the Promissory Note, Disclosure Statement, and other applicable Personal Loan documents. 
4. I acknowledge that RCBC/RCBC Bankard Services Corporation reserves the right to approve or reject applications for Personal Loans and has no obligation to disclose reasons for the rejection or disapproval of the RCBC Personal Loan application. Further, RCBC/RCBC Bankard Services Corporation has the sole discretion to approve only a portion of the amount applied for.
5. Data Privacy:
1. I confirm that all information in this application are correct and complete. I shall notify RCBC/RCBC Bankard Services Corporation of any change affecting the information and documents provided by me. Should any of the information provided and documents submitted prove to be false, RCBC/RCBC Bankard Services Corporation may terminate any loan or accommodation and have the right to demand immediate payment of loan obligation.
2. I agree and authorize RCBC/RCBC Bankard Services Corporation to obtain and verify such information and perform all necessary background checks (including credit scoring and investigation) as RCBC/RCBC Bankard Services Corporation may require concerning the statements made in this application and that the sources from which RCBC/RCBC Bankard Services Corporation may apply for such information are hereby authorized to provide RCBC/RCBC Bankard Services Corporation the same.
3. I agree and authorize RCBC/RCBC Bankard Services Corporation or its duly authorized personnel to process my information for the purposes of customer identification, risk profile assessment, facilitation and commencement of an effective administration and implementation of the Personal Loan, and communication relevant to the Personal Loan.
4. I agree and authorize RCBC/RCBC Bankard Services Corporation or its duly authorized personnel to process and/or disclose my information to any offices, branches, subsidiaries, affiliates, agents, and representative of RCBC/RCBC Bankard Services Corporation and third parties selected by any of them, wherever situated, and use in connection with the provision of any service/product relating to my account/s including data profiling, processing, monitoring, reviewing, reporting, storing, statistical and risk analysis purposes.
5. I agree that all my personal data may be processed and disclosed by RCBC/RCBC Bankard Services Corporation to government authorities (foreign or domestic) in compliance with the rule, ordinance, order, decree, directive, requirement, statute, law, constitution, regulation or other government restriction or any similar form of decision of, or determination of any of the foregoing by, any national, regional, or local government or political subdivision, commission, authority, tribunal, agency, or entity of the Republic of the Philippines or a foreign country, as may be applicable.
6. I agree to waive, to the extent allowed by law, the confidentiality of my personal data regarding my bank accounts, deposits and other credit information in order to ascertain my eligibility to avail credit.
7. I agree and authorize RCBC/RCBC Bankard Services Corporation to retain the data collected during the application, as well as for the duration and even after the rejection, termination, closure or cancellation of the credit availment, relationship or services with RCBC/RCBC Bankard Services Corporation for a period of ten (10) years from such termination until final conclusion of any requirement or disclosure of obligation, dispute or action.
8. I agree and authorize RCBC/RCBC Bankard Services Corporation to a) collect and use my information and, where permitted by law, share it between the Yuchengco Group of Companies (YGC), its subsidiaries, affiliates and third-party institutions to identify and inform me of products and services provided by YGC, its subsidiaries and affiliates that may be of interest to me; and b) collect and use my information to promote the products and services of select third parties that may be of interest to me. I understand that if I do refuse or withdraw my consent to a) and/or b), it will not affect my eligibility to avail credit.
9. I agree that RCBC/RCBC Bankard Services Corporation may disclose and share my personal information, as deemed applicable, with other YGC subsidiaries and affiliates, as well as selected third parties to offer selected products and services which are relevant and necessary in the administration of my account/s including but not limited to product/service improvements/upgrades, data analytics and related automated processes as part of the Bank’s initiatives to further improve its service to its clients.
6. I acknowledge that information and documents in relation to my Personal Loan application have been read and fully understood such as, but not limited to, the a) Personal Loan application form, b) Promissory Note c) Disclosure Statement, e) Amortization Schedule and other f) Personal Loan details such as, fees and interest rates.
7. Interest, Fees and Charges
1. I acknowledge that the monthly interest rates, late payment penalty and other charges that may be applied to my Personal Loan application shall be determined by RCBC/RCBC Bankard Services Corporation.
2. I acknowledge that the computation of interest and principal components of the monthly amortization shall be based on diminishing balance computation, and the interest and principal portions will not be equal from month to month.
3. I acknowledge that due to a system-generated computation where decimal points are rounded up, the monthly amortizations may vary. The outstanding balance will be adjusted at the end of the loan term to ensure that all payments made are accounted for and that the loan amount is paid.
4. I agree that should I be unable to pay my monthly amortization or outstanding balance in full, I will be charged with a late penalty fee equivalent to five percent (5%) of my unpaid outstanding balance from the previous month (a fraction thereof is considered a full month), counted from the day immediately following the due date, until the installment is fully paid. The late penalty fee will be computed from the unpaid outstanding balance and the accrual of the late penalty fee will start from the statement date until payment is posted. A late penalty fee will still be applied for partial payments.
5. I agree that the interest rate on the loan or on any amount due herein shall be subject to a proportionate upward or downward adjustment in these instances: i) change in the prevailing cost of money at any given time, or there be any law, circular, rule or regulation enacted, issued or promulgated which has the effect of increasing or decreasing the cost of funds to the Creditor as determined by the latter; ii) change of at least fifteen percent (15%) in the Consumer Price Index for Manila from the date of execution of this agreement as set forth in the figures released by the Bangko Sentral ng Pilipinas (BSP), or other agencies of the Philippine Government should the figures of BSP be unavailable, which shall be regarded as an extraordinary increase or decrease in the effective purchasing power of the Philippine currency. Any adjustment pursuant to the foregoing occurrences shall be communicated to me/us in writing prior to its implementation. Should I disagree with the adjustment, I undertake to prepay the outstanding obligation within thirty (30) days following receipt of the notice; otherwise, I shall be deemed to have agreed to the adjustment effective upon the expiration of the 30-day period.
6. I agree to pay the fees, breakdown below:
1. i. A processing fee will be charged and deducted against the loan amount and will be netted out of the loan proceeds.
2. ii. Documentary Stamps Tax of Php 1.50 for every Php 200 for loan amount above Php 250,000 shall be charged and deducted against the loan amount and will be netted out of the loan proceeds.
8. Cash Disbursement, Payment, and Default
1. I agree that I shall be liable to RCBC/RCBC Bankard Services Corporation for the approved loan amount and the charges due thereon such as late penalty fees in accordance with the Disclosure Statement, Amortization Schedule and other related Personal Loan documents.
2. In the event that an installment date falls on a non-working day, I agree that the due date shall be on the following working day immediately succeeding the said installment date.
3. I understand that acceptance by RCBC/RCBC Bankard Services Corporation of payment or any installment or any part thereof after the due date shall not be considered as extending the time for the payment of any of the installments aforesaid or as a modification of any of the conditions hereof.
4. I authorize RCBC / RCBC Bankard Services Corporation to collect payments through automatic debit arrangement (ADA).
   In connection thereto, I agree that: (a) RCBC/RCBC Bankard Services Corporation shall automatically charge/debit, without need of any further act from me, the due amount (“Debit Amount”) on the due dates stated in the disclosure statement and/or amortization schedule or on the next/nearest working day thereto or if the due date falls on a holiday, weekend or on a date when certain maintenance activities are being performed on the debiting system then on the next/nearest working day when the debiting system is properly functioning (“Debit Date”) from my designated deposit account as indicated in my application on the app (“Debit Account”), which will be applied to the payment of my loan; (b) if the funds in my Debit Account are insufficient to cover the due amount on a Debit Date, RCBC/RCBC Bankard Services Corporation shall either cancel the debiting of the due amount, or debit the remaining available balance in my Debit Account and will continue to debit my Debit Account until the full unpaid amount is collected; (c) RCBC/RCBC Bankard Services Corporation may debit additional amounts as may be necessary as payment for past due amounts (d) in case of my death, RCBC/RCBC Bankard Services Corporation may charge the Debit Amount to the Debit Account, regardless of the Debit Date and without prejudice to RCBC/RCBC Bankard Services Corporation’s right to recover the full amount of my obligations on the Personal Loan from my estate and/or heirs, successors or assigns; (e) my request for ADA enrollment and any future request for disenrollment shall be subject to RCBC/RCBC Bankard Services Corporation’s prior consent and confirmation; and (f) the Debit Account and all debits authorized in my ADA enrollment are further governed by RCBC/RCBC Bankard Services Corporation’s applicable terms and conditions, policies, and procedures, my consent to which is hereby affirmed.
   The Creditor has no obligation to debit my account if the outstanding balance thereon is insufficient, unavailable, or has not been cleared, in which case I shall be liable to pay the penalty charge on all overdue amounts.
   I hereby agree to indemnify and hold RCBC/RCBC Bankard Services Corporation, its directors, officers and representatives, free and harmless from any claims, liability and/or damage arising out or of in connection with the exercise of the authority granted under the ADA.
5. I understand that payments made to my Personal Loan account shall be applied in the following order:
1. Late penalty fee
2. Interest charge
3. Principal balance
6. I acknowledge that I shall be considered in default in the event that (i) I fail to pay my obligations on my Personal Loan account, and by extension any RCBC Bankard credit card if applicable, (ii) I fail to observe any of the terms and conditions governing the issuance of my Personal Loan account, (iii) I fail to observe any of the terms and conditions of any contract/evidence of indebtedness and or related documents in connection with any credit facilities granted in my favor by RCBC/RCBC Bankard Services Corporation or another financial institution, (iv) any information, documentation, representation or warranty made by me in my application form that proves to have been fraudulent, untrue, incorrect or misleading at the time it was made.
7. In case of my failure to pay when due and payable, any sum which I am obliged to pay under this Personal Loan and/or any other obligation which I may now or in the future owe to the holder of this Personal Loan or to any other party, whether as principal, surety, or guarantor, or in the event of death or dissolution (in case of corporation), bankruptcy, insolvency, receivership, levy or execution, garnishment or attachment, or in case of conviction for a criminal offense by final judgment carrying with it the penalty of civil interdiction, affecting all or any one of us, or in any of the cases enumerated in Article 1198 of the Civil Code of the Philippines:
1. unpaid obligation (including unbilled balances) and all other fees and amounts payable under this Agreement shall become immediately due and payable without demand, presentment, dishonor, protest or further notice of any kind, all of which I hereby expressly and willingly waive.
2. ii. I agree to pay late penalty fees as applicable.
3. iii. If RCBC/RCBC Bankard Services Corporation needs to refer my case to a collection agency or through an Attorney-at-Law, I shall be liable to pay i) one percent (1%) of the sum due, which shall not be less than P2,000 nor more than P10,000 as endorsement fee; ii) twenty-five percent (25%) of the sum due as attorney’s fees; iii) twenty-five percent (25%) of the sum due as liquidated damages; and iv) the actual expenses of collection and costs of suit.
8. In the event that my account shall be referred to a collection agency or an attorney-at-law for collection, I acknowledge that RCBC/RCBC Bankard Services Corporation shall notify me in writing of the endorsement of the collection of my account, or the endorsement of the collection of my account to a collections agency or attorney prior to actual endorsement. The notification shall include the full name of the collection agency and its contact details to which my account will be offset.
9. Any legal action arising from this Personal Loan shall be submitted to the jurisdiction of the proper court in Pasig City or Taguig City, at the sole option of RCBC/RCBC Bankard Services Corporation.
10. In case of any changes in the crediting of loan proceeds RCBC/RCBC Bankard Services Corporation reserves the right to change the crediting option of my application.

I HEREBY AFFIRM THAT I HAVE CAREFULLY READ, FULLY UNDERSTOOD, AND VOLUNTARILY CONFORMED TO THE FOREGOING STIPULATIONS AND IN THE PERSONAL LOAN DOCUMENTS. I FURTHER AFFIRM THAT AT THE TIME I SIGNED THIS FROM, ALL THE BLANK SPACES HAVE BEEN CORRECTLY AND COMPLETELY FILLED UP. HOWEVER, SHOULD THERE BE ERRORS, SUCH AS BUT NOT LIMITED TO THE NAMES AND ADDRESSES OF THE PARTIES, DESCRIPTION OF COLLATERAL, AND TYPOGRAPHICAL ERRORS, INADVERTENTLY MADE ON THIS FORM, IN THE PERSONAL LOAN DOCUMENTS, OR OTHER RELATED DOCUMENTS, I HEREBY AUTHORIZE RCBC/RCBC BANKARD SERVICES CORPORATION OR ITS ASSIGNEE TO MAKE THE NECESSARY CORRECTIONS PROVIDED THAT THE CORRECTION IS SUPPORTED BY RELEVANT DOCUMENTAION.

I HEREBY AUTHORIZE RCBC/RCBC BANKARD SERVICES CORPORATION, ITS DIRECTORS, OFFICERS, EMPLOYEES AND DULY AUTHORIZED REPRESENTATIVES TO KEEP, STORE, UPDATE, USE ACCESS, PROCESS, AND ENTER IN THE PROCESSING SYSTEM MY PRESENTED DATA AND TO SHARE, TRANSFER OR DISCLOSE THE DATA TO THE YUCHENGCO GROUP OF COMPANIES AND 3RD PARTIES SUCH AS BUT NOT LIMITED TO OUTSOURCED SERVICE PROVIDERS, EXTERNAL AUDITORS, AND LOCAL AND FOREIGN REGULATORY AUTHORITIES FOR PURPOSES OF APPROVAL AND FACILITATION OF THE PERSONAL LOAN CYCLE, MARKETING OR PROMOTIONAL INFORMATION CAMPAIGN, CREDIT INFORMATION SYSTEM ACT, ALL OTHER REGULATORY LAWS, AND ALL OTHER ACTIVITIES CONSISTENT WITH THE PROVISIONS OF THE DATA PRIVACY ACT AND SUBJECT TO APPROPRIATE AND SECURITY SAFEGUARDS.