C.H.A.R.G.E

C.H.A.R.G.E. stands for every Child Has A Right to Good Education, a special facility designed to assist parents and adult students who are RCBC Bankard cardholders* in financing their tuition and other school-related needs by way of a loan** that they can pay back in easy and flexible installment terms over 3, 6, 9 or 12 months, as shown in the table below:

Terms Add-on Rate Per Month Factor Rate Annual Effective Interest Rate
3 1.00% 0.3433333 17.91%
6 1.00% 0.1766667 20.29%
9 1.00% 0.1211111 21.11%
12 1.00% 0.0933333 21.46%

*Must be a cardholder for at least 12 months.
**Loanable amount is from P10,000 to P300,000 subject to credit evaluation and approval.

Aside from tuition and books, the loan can also be used to purchase a laptop or a gadget that will help your child in his/her studies. RCBC Bankard believes that every Child Has A Right to Good Education and this is why we are making back-to-school easier and worry-free through C.H.A.R.G.E.

To avail, simply call the RCBC Bankard Customer Hotline at 888-1-888 and a check will be mailed directly to your billing address.

 

SAMPLE COMPUTATION:
Total Monthly Payment = C.H.A.R.G.E. amount x Factor Rate

For a C.H.A.R.G.E. availment of 30,000.00 payable in 12 months
Total Monthly Payment = P30,000.00 X 0.0933333
Total Monthly Payment = P2,800.00

 

TERMS & CONDITIONS:

  1. C. H.A.R.G.E. special facility designed to assist parents and adult students who are RCBC Bankard cardholders* in financing their tuition and other school-related needs by way of a loan. *Must be a cardholder for at least 12 months.
  2. C. H.A.R.G.E. availment can be paid in easy and flexible installment terms over 3, 6, 9 or 12 months based on the current C.H.A.R.G.E. interest rates.
  3. To request for C. H.A.R.G.E., cardholders need to call RCBC Bankard Customer Service at 888-1-888.
  4. The loanable amount for C.H.A.R.G.E. will be based on the cardholder’s available credit limit (but not to exceed 90% of available credit limit to allow buffer for applicable interest and fees). Minimum C.H.A.R.G.E. transaction amount is Php10,000 and the maximum is Php300,000 across all cards of the cardholder.
  5. RCBC Bankard reserves the right to approve or reject applications for C.H.A.R.G.E. and has no obligation to disclose reasons for the rejection or disapproval of C.H.A.R.G.E. requests. If the cardholder has no sufficient credit limit, RCBC Bankard has the sole discretion to approve only a portion of the amount applied for.
  6. A C.H.A.R.G.E. application can no longer be cancelled once approved.
  7. Upon approval of the C.H.A.R.G.E. application, RCBC Bankard will deposit the check to cardholders with RCBC or RCBC Savings Bank account. For those cardholder without RCBC or RCBC Savings Bank account, check will be directly delivered to cardholder’s billing address.
  8. The approved C.H.A.R.G.E. amount is automatically deducted from the cardholder’s available credit limit.
  9. The approved C.H.A.R.G.E. loan amount will automatically be posted on cardholder’s Statement of Account (SOA) at the nearest cut-off following the release of the check or crediting of C.H.A.R.G.E loan proceeds to cardholder’s indicated RCBC/RCBC Savings Bank account.
  10. The computation of interest and principal components of the monthly installment shall be on a diminishing basis, and the interest and principal portions will not be equal from month to month.
  11. If the cardholder decides to pre-terminate or pay the C.H.A.R.G.E. installment plan in full before maturity, a pre-termination fee of Php 500.00 or 5% of the unpaid principal amount, whichever is higher will be charged.
  12. In cases of suspension, cancellation and/or non-renewal of the RCBC Bankard Credit Card due to non-payment or breach of any of the Terms and Conditions Governing the Issuance and Use of RCBC Bankard Credit Cards shall automatically render all the outstanding obligations of the cardholder under the RCBC Bankard C.H.A.R.G.E. facility due and demandable without need of prior notice.
  13. A processing fee of P150.00 will be charged to cardholder’s account.
  14. Monthly interest rate, late payment penalty and other charges to be applied by the C.H.A.R.G.E. facility shall be determined by RCBC Bankard.
  15. The abovementioned terms and conditions for the implementation of the RCBC Bankard C.H.A.R.G.E. facility may be amended and supplemented by RCBC Bankard from time to time, as may be deemed necessary without prior notice to, and without need of cardholder’s consent.