Loan Guide

Metrobank vs RCBC Auto Loan

Side-by-side comparison of Metrobank (5.49% starting rate, 950+ branches) vs RCBC (5.35% starting rate, 450+ branches). This guide breaks down interest rates, loan terms, down payment requirements, approval speed, and total cost of ownership for Philippine car buyers in 2026.

Interest Rate

Varies by lender

Loan Term

12 – 60 months

Down Payment

20%

Processing

3 – 7 business days

Requirements

Valid government-issued ID (passport, driver's license, or UMID)

Proof of income (latest 3 months payslips or ITR)

Proof of billing address (utility bill dated within 3 months)

Special Power of Attorney if applicant is an OFW

Latest 3 months bank statements

Pros & Cons

Advantages

  • Metrobank offers rates from 5.49% — 950+ branches.
  • RCBC offers rates from 5.35% — 450+ branches.
  • Both options allow 20% minimum down payment for brand-new vehicles.
  • This comparison saves you time by consolidating rate, term, and requirement data.
  • Clear winner identified for different buyer profiles (rate-sensitive, convenience-focused, low-income).

Drawbacks

  • Metrobank maximum rate may reach 14% p.a. on longer terms or used cars.
  • RCBC maximum rate may reach 14% p.a. under less favorable conditions.
  • Neither provider guarantees the advertised starting rate — actual rate depends on credit assessment.
  • Switching lenders mid-term incurs pre-termination penalties of 3–5% of the remaining balance.

Frequently Asked Questions

Which is better, Metrobank or RCBC auto loan?
Metrobank starts at 5.49% (950+ branches), while RCBC starts at 5.35% (450+ branches). The best choice depends on your priorities — rate vs. convenience vs. bundled benefits.
What is the Metrobank auto loan rate in 2026?
Metrobank auto loan rates start at 5.49% for qualified borrowers with brand-new vehicles and shorter terms.
What is the RCBC auto loan rate in 2026?
RCBC auto loan rates start at 5.35%. The actual rate depends on your income, credit history, and vehicle age.
Can I switch from Metrobank to RCBC mid-term?
Yes, through refinancing. You would apply for a new loan with RCBC to pay off the Metrobank balance. Pre-termination fees of 3–5% may apply on the original loan.
How do I choose between two car loan providers?
Compare the total cost of the loan (not just the rate). Calculate total interest paid over the full term, add fees, and factor in convenience (branch access, online tools, approval speed).

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Metrobank vs RCBC Auto Loan

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