RFC Loan Guide: How to Get a Loan from Radiowealth Finance


Published on: February 12, 2020 Last updated: August 17, 2020

RFC Loan Guide | Moneymax

Struggling to find a loan that’s easy to get and suitable for your needs? The RFC loan might just be what you’re looking for.

Here’s everything you need to know about this online loan, so you know if it’s perfect for you. We’ve also included a quick RFC loan application guide should you decide it’s the best loan for your needs.

What is an RFC Loan?

RFC Loan Guide - What is Radiowealth Finance?

An RFC loan is an online loan from the Radiowealth Finance Company (RFC) [1] that gives Filipinos an affordable and easy way to get personal or business financing.

RFC has been operating for over 50 years, starting with providing car loans and appliance loans—the first financing company to offer these financial products—in the 1960s.

What Types of Loans Can I Get from RFC?

Radiowealth Finance has three types of loans for various financial needs: financing loans, multi-purpose loans, and business loans.

1. RFC Financing Loans

RFC Loan Guide - RFC Financing Loans

Minimum loan amount: PHP 10,000

Loan term: Three to 36 months

RFC Financing Loans are for borrowers whose goal is to fulfill a financial goal, like buying their dream car, upgrading their appliances, procuring office and business equipment, and more.

Here are the different financing loans that Radiowealth Finance offers:

  • Vehicle Loan – Budget-friendly way to purchase a new car
  • Appliance Loan – Easy installment plans at RFC’s partner merchants such as Robinsons Appliances, Anson’s, and Western Appliances
  • Machineries and Heavy Equipment Loan – Provides instant cash for the purchase of different types of equipment needed for business operations
  • Medical Equipment Loan – For clinics and medical facilities that need to update their medical equipment to better serve their patients
  • Special Equipment Loan – Helps small businesses get the tools to improve their employee’s productivity and their overall efficiency

2. RFC Multi-Purpose Loans

RFC Loan Guide - RFC Multi-Purpose Loan

Loan amount: PHP 10,000 to PHP 150,000

Loan term: Three to 12 months

Radiowealth Finance provides a wide range of multi-purpose or personal loans for urgent or critical cash needs such as emergencies and personal needs.

Compared to RFC Financing Loans, RFC Multi-Purpose Loans have a shorter maximum loan term at 12 months, with loan amounts capped at PHP 150,000.

You can avail of any of these RFC personal loans:

  • Education Loan – For tuition fee or other school-related expenses of your children
  • Vehicle Downpayment Loan – Allows you to get a new vehicle for your family by using your existing vehicle as collateral. No need for a cash-out.
  • Auto Repair Loan – For funding expenses related to car repair, maintenance, modification, and upgrades
  • Salary Loan – An institutional loan type availed by employers as a benefit for their employees who need to cover any financial emergency
  • Professional Loan – Intended for professionals who need extra money for funding any important expense related to their practice of a profession, such as travel costs, business meals, and office rental fee
  • Lessor’s Loan – Provided to individuals and companies that lease their office space to other companies
  • OFW Loans – For funding personal or business expenses of OFWs
  • OFW Family Loans – Helps OFW beneficiaries to start a business or cover their personal needs

3. RFC Business Loans

RFC Loan Guide - RFC Business Loan

Loan amount: At least PHP 10,000 (with collateral) / PHP 10,000 to PHP 150,000 (without collateral)

Loan term: Three to 36 months (with collateral) / Three to 12 months (without collateral)

RFC also offers business loans to Filipino entrepreneurs who wish to start or expand their own business. Borrowers may opt to avail of either a no-collateral loan or one with collateral.

Here are three types of RFC Business Loans to choose from:

  • Working Capital Loan – Provides additional funding for acquiring assets important to your business’ day-to-day operations
  • Business Expansion Loan – Helps SMEs fund the equipment, tools, and other investments for growing their business
  • Franchise Financing Loan – For entrepreneurs who need more money to start their own franchise business in the Philippines

Related: What is the Best Type of Loan for My Business?

What is the RFC Loan Interest Rate?

The interest rate you’ll be charged depends on the type of loan you avail, the amount you’ll borrow, and your chosen repayment period.

A shorter repayment period will result in higher monthly installments but lower interest payments over the loan term. On the other hand, if you opt to pay over a longer loan term, the total interest payment is higher, but it’s easier on the monthly budget because the installment amount is lower.

So you can estimate how much you’ll repay monthly, use the RFC online loan calculator [2]. It quickly computes your monthly installments based on the type, amount, and term of the loan you choose.

Achieve your goals with an RFC Loan!

How to Apply for an RFC Loan

It’s easy to qualify and apply for any loan from Radiowealth Finance. The income requirement is low, and only minimal documents are required. This makes RFC loans ideal for Filipinos with bad credit or no credit history.

RFC’s online application system also makes the process very convenient for borrowers.

RFC Loan Requirements

Who Can Apply for a Loan from Radiowealth Finance?

  • Filipino citizen living in the Philippines for at least 12 months
  • 21 to 64 years old
  • For employed applicants: Working for the current employer for at least one year, with a basic monthly salary of at least PHP 10,000
  • For self-employed/professional applicants: Running the current business profitably or practicing the same profession for at least two years

What Documents are Required for RFC Loan Application?

Basic Document Requirements for RFC Loan

  • Accomplished online RFC loan application form
  • Two valid government-issued IDs (including company ID for employees)
  • Latest utility bill

Additional RFC Loan Requirements for Employees

  • One-month payslip
  • Certificate of Employment

Additional RFC Loan Requirements for Self-Employed

  • Business Barangay Permit / Business Permit / DTI Certificate of Registration
  • Income tax return (ITR)
  • Two ID photos (1 x 1 or 2 x 2)
  • Passbook (active for at least six months)

Additional RFC Loan Requirements for OFWs

  • Latest three-month proof of remittance or passbook
  • Copy of active and valid employment contract

RFC Loan Application Steps

RFC Loan Guide - RFC Loan Application Steps

Borrowing money from the Radiowealth Finance Company is a quick and straightforward process over the internet.

Here’s how to apply for an RFC loan online:

  1. Access the online loan application form [3] and fill it out with the required information.
  2. Upload all the required documents for your RFC loan application.
  3. Wait for a text confirmation of your loan approval within 24 hours.

An account executive from Radiowealth Finance will contact you for instructions on how to claim your loan proceeds. You may be required to provide the latest deposit slip of your checking account if you’ll be issuing post-dated checks for your loan repayment (for loan amounts of PHP 100,000 and up).

If you prefer to apply for an RFC loan in-branch, you can do so at any of Radiowealth Finance’s 100+ branches nationwide [4]. You can have your loan application requirements processed at the nearest branch. Upfront fees such as processing and notarial fees will be charged for such a request.

Final Thoughts

Need assistance in your RFC loan application? You may contact an RFC account executive at (0905) 307-9062 (for Globe subscribers) or (0961) 136-1660 (for Smart subscribers) or send a message to customerservice.rfsc@rfc.com.ph.

Get the right loan for any purpose!


Written By:

Venus is the Head of Content at Moneymax, with over 15 years of combined experience in digital marketing, corporate communications, PR, and journalism. She invests in stocks, mutual funds, VUL, and Pag-IBIG MP2. Outside of work, she's crazy about cats and Korean dramas. Follow Venus on LinkedIn.