RCBC vs UnionBank Auto Loan
Side-by-side comparison of RCBC (5.35% starting rate, promo rates) vs UnionBank (6.56% starting rate, digital app). 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)
Filled-out auto loan application form
Pros & Cons
Advantages
- RCBC offers rates from 5.35% — promo rates.
- UnionBank offers rates from 6.56% — digital app.
- 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
- RCBC maximum rate may reach 14% p.a. on longer terms or used cars.
- UnionBank 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, RCBC or UnionBank auto loan?
What is the RCBC auto loan rate in 2026?
What is the UnionBank auto loan rate in 2026?
Can I switch from RCBC to UnionBank mid-term?
How do I choose between two car loan providers?
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