Metrobank vs RCBC car loan 2026

By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.

On the same ₱1,000,000 brand new car loan over 60 months, RCBC costs ₱110 less a month. Below: every term, your own car, and where each bank is ahead.

Lower monthlyRCBC

Faster decisionRCBC

Lends on second-hand carsRCBC

Metrobank vs RCBC rates by term

Brand new car, ₱1,000,000 loan. The lower monthly payment at each term is marked.

Pay over	Metrobank rate	Metrobank monthly	RCBC rate	RCBC monthly	Difference a month
12 months	5.19%	₱87,658	5.35%	₱87,792	₱133 less at Metrobank
18 months	7.61%	₱59,783	7.70%	₱59,833	₱50 less at Metrobank
24 months	10.74%	₱46,142	10.47%	₱46,029	₱113 less at RCBC
36 months	16.90%	₱32,472	16.98%	₱32,494	₱22 less at Metrobank
48 months	23.55%	₱25,740	22.88%	₱25,600	₱140 less at RCBC
60 months	30.26%	₱21,710	29.60%	₱21,600	₱110 less at RCBC

Metrobank: add-on rate for the whole term. RCBC: add-on rate for the whole term. Standard rates.

Metrobank vs RCBC, point by point

Point	Metrobank	RCBC
Interest rate, brand new	5.19% to 30.26% add-on	5.35% to 29.60% add-on
Monthly on ₱1,000,000, 60 months	₱21,710, about 10.9% a year	₱21,600, about 10.7% a year
Down payment	Minimum varies by vehicle type	From 20%
Loan term	12 to 60 months	12 to 60 months brand new; 12 to 48 months pre-owned
Loan amount	Minimum loan: ₱350,000	Minimum loan: ₱500,000 brand new; ₱200,000 for pre-owned and RCBC-acquired units (the bank's pages differ: ₱300,000 brand new elsewhere)
Second-hand cars	Not stated by Metrobank	Yes, with its own rates
Minimum income	₱40,000 a month (family)	RCBC decides case by case
Decision	As fast as 3 business days	1 day
Fees	DST ₱1.50 per ₱200; notarial ₱300 to ₱400	RCBC lists them on the disclosure statement
Late payment	5% a month on the unpaid amount	Not stated by RCBC
Paying early	₱7,500 pre-payment processing fee	Not stated by RCBC
How to apply	Apply online, visit your nearest branch, or call the contact center	Apply online through RCBC's auto loan application, or download the loan application form

Documentary stamp tax of ₱1.50 per ₱200 of the loan is a national tax and applies at every bank.

Requirements: Metrobank vs RCBC

What each bank asks an employed borrower for. Business owners and OFWs: see each bank's page.

Metrobank

Filled-out and signed Metrobank Car Loan application form
One valid government-issued ID, preferably a passport

Metrobank car loan in full

RCBC

Completely filled-out application form
2 valid government-issued IDs, preferably a driver's license

RCBC car loan in full

Metrobank or RCBC: questions

Which is better, Metrobank or RCBC car loan?

On the same ₱1,000,000 brand new car loan over 60 months, RCBC costs ₱110 less a month (₱6,600 over the loan). Metrobank down payment: minimum varies by vehicle type; RCBC: from 20%. Metrobank decision: as fast as 3 business days; RCBC: 1 day.

Which has the lower car loan rate, Metrobank or RCBC?

Over 60 months for a brand new car, Metrobank charges 30.26% add-on (₱21,710 a month on ₱1,000,000) and RCBC 29.60% add-on (₱21,600). Compare the monthly payment, not the rate, when the two banks charge interest differently.

Which needs a lower down payment, Metrobank or RCBC?

Metrobank: Minimum varies by vehicle type. RCBC: From 20%.

More bank comparisons

Not set on these two? Answer 5 questions to see the three car loans that fit you best.

How we compare car loans.