RCBC vs UnionBank 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, UnionBank costs ₱633 less a month. Below: every term, your own car, and where each bank is ahead.

Lower monthlyUnionBank

Lends on second-hand carsRCBC

RCBC vs UnionBank rates by term

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

Pay over	RCBC rate	RCBC monthly	UnionBank rate	UnionBank monthly	Difference a month
12 months	5.35%	₱87,792	6.00%	₱88,333	₱542 less at RCBC
18 months	7.70%	₱59,833	8.35%	₱60,194	₱361 less at RCBC
24 months	10.47%	₱46,029	10.74%	₱46,142	₱113 less at RCBC
36 months	16.98%	₱32,494	15.63%	₱32,119	₱375 less at UnionBank
48 months	22.88%	₱25,600	20.65%	₱25,135	₱465 less at UnionBank
60 months	29.60%	₱21,600	25.80%	₱20,967	₱633 less at UnionBank

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

RCBC vs UnionBank, point by point

Point	RCBC	UnionBank
Interest rate, brand new	5.35% to 29.60% add-on	6.00% to 25.80% add-on
Monthly on ₱1,000,000, 60 months	₱21,600, about 10.7% a year	₱20,967, about 9.4% a year
Down payment	From 20%	Not stated by UnionBank
Loan term	12 to 60 months brand new; 12 to 48 months pre-owned	12, 18, 24, 36, 48 or 60 months
Loan amount	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)	Not stated by UnionBank
Second-hand cars	Yes, with its own rates	Yes
Decision	1 day	Up to 24 hours, or as fast as 5 minutes, depending on product and applicant
Fees	RCBC lists them on the disclosure statement	Borrower pays DST, notarial and registration fees; ₱5,000 off the chattel mortgage fee on promo loans to 31 December 2026
Late payment	Not stated by RCBC	5% a month on the unpaid monthly installment
Paying early	Not stated by RCBC	Full or partial prepayment on written request, paying the balance plus interest to that date
How to apply	Apply online through RCBC's auto loan application, or download the loan application form	Use Get a Quote or Apply Now on the auto loan page

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

Requirements: RCBC vs UnionBank

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

RCBC

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

RCBC car loan in full

UnionBank

2 government-issued IDs with signature
Proof of billing address

UnionBank car loan in full

RCBC or UnionBank: questions

Which is better, RCBC or UnionBank car loan?

On the same ₱1,000,000 brand new car loan over 60 months, UnionBank costs ₱633 less a month (₱38,000 over the loan). RCBC down payment: from 20%; UnionBank: not stated by unionbank. RCBC decision: 1 day; UnionBank: up to 24 hours, or as fast as 5 minutes, depending on product and applicant.

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

Over 60 months for a brand new car, RCBC charges 29.60% add-on (₱21,600 a month on ₱1,000,000) and UnionBank 25.80% add-on (₱20,967). Compare the monthly payment, not the rate, when the two banks charge interest differently.

Which needs a lower down payment, RCBC or UnionBank?

RCBC: From 20%. UnionBank: Not stated by UnionBank.

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.