How to Apply for an RCBC Solar Home Loan: Documents, Timeline, and What Your Installer Needs to Provide

Planning to finance a solar installation for your home? Knowing what to prepare for your RCBC Solar Home Loan application helps you coordinate with your installer, organize your documents, and plan your home upgrade with more confidence.

An Overview of the RCBC Solar Power Loan

A solar power loan is a financing option that helps homeowners cover the cost of installing solar panels without paying the full amount upfront. In this setup, homeowners repay the cost over an agreed period, allowing them to plan their solar investment alongside other household expenses and financial goals.

RCBC provides financing options for qualified homeowners who want to incorporate solar energy into their property plans. These include financing for a new home with solar panels, adding solar to an existing RCBC home loan, or using eligible property equity to fund a solar installation.

For clients planning a solar retrofit to their existing home, this loan lets them finance the upgrade while keeping the project focused on the solar system itself, rather than setting aside a budget for a full renovation.

RCBC Solar Power Loan Application Steps

The following steps provide a general guide on applying for the RCBC Solar Home Loan:

1. Get a Solar Installation Proposal

Start by contacting a solar installer to assess your property and recommend a system that suits your household’s energy needs. Ask for a written proposal or quotation that outlines the planned installation.

Your installer’s proposal is particularly relevant because it gives you and the bank a clearer understanding of the project you intend to finance. It may include:

• Recommended solar system capacity and configuration
• Solar panels, inverter, and other equipment
• Installation and related project costs
• Scope of work and estimated installation schedule
• Warranty information and other relevant specifications

2. Check Your Eligibility

Review the Solar Power Loan’s eligibility criteria. Requirements can depend on the type of financing, your financial profile, and the details of your solar project.

The eligibility criteria are as follows:

• Filipino citizen or dual citizen
• If a foreigner, must be married to a Filipino citizen
• At least 21 years old upon loan application
• At most 70 years old upon loan maturity
• With a minimum employment tenure of one (1) year
• If OFW, must have worked abroad for at least two (2) consecutive years
• If self-employed, local business must be in profitable operations for the past two (2) years
• Loan amount up to 100% of appraised value

If you already have an RCBC home loan or are considering using your property equity, explain your situation when you inquire so they can tell you which financing route may apply.

3. Organize Your Personal and Financial Documents

Your application will also require information that helps the bank evaluate your eligibility and repayment capacity. Preparing these documents in advance can make the process more organized.

Below are the solar financing requirements for an RCBC Solar Home Loan:

• Accomplished RCBC Home Loan Application Form
• Copy of TCT and Tax Declaration (Land & Improvement)
• Bill of Materials (Construction)
• For employed applicants: Certificate of Employment (COE) or latest ITR, 2 valid government-issued IDs, TIN, utility bill
• For self-employed applicants: business registration with DTI, audited financial statements, ITR or bank statements
• Proposal or quotation from your solar panel provider

4. Submit Your Application

You can apply for an RCBC Solar Home Loan online through the eLOANs portal or visit the branch nearest you.

Follow these steps before visiting an RCBC branch:

Step 1: Complete the RCBC Home Loan Application Form.

Step 2: Email your completed form to either of the assigned officers:

• mgsaavedra-leonin@rcbc.com 
• mppargan@rcbc.com

Step 3: For priority routing, use the subject line RCBC Solar Power Loan – [Your Last Name]. Include your contact number and the best time to reach you in the email.

Step 4: An RCBC Account Officer will contact you within 24 hours to discuss a solar financing package tailored to your needs.

Ensure your personal information and supporting documents are complete and consistent when submitting your application.

5. Respond to Verification and Evaluation Requests

After submission, the bank reviews your application and may contact you to validate information or request additional documents. Online applicants should expect a call from an account officer to validate their application.

Stay reachable and keep your solar installer informed if the bank needs clarification about the proposed system, quotation, or project details. Prompt responses can help keep the process organized.

6. Review the Loan Terms Before Proceeding

If your application is approved, review the offered loan amount, interest rate, repayment schedule, fees, and other conditions carefully before signing. Make sure the approved financing aligns with your project budget and household plans.

Here is a quick overview of the different RCBC loan types for solar financing: 

• Bundled Housing Loan: If you are purchasing a new property and want solar panels included from the start, this option finances both under a single loan.
• Housing Loan Top-Up: For existing RCBC mortgage holders who want to add solar to a home they already own, a top-up loan draws additional financing on top of your current loan.
• Home Equity Loan: Homeowners who have built up equity in their property can borrow against it to fund a solar installation, whether or not they currently have an RCBC mortgage.

How Long Does the Application Take?

The exact processing time for an RCBC Solar Home Loan can vary. It may depend on how quickly you submit the required documents, whether further verification is needed, and the details of your application.

Ask an RCBC Account Officer for an estimated timeline when you apply. You can avoid preventable delays by submitting complete documents, verifying your information, and responding promptly to requests.

Your installer’s schedule is a separate consideration. Confirm equipment availability, installation lead time, and any required permits or utility coordination directly with the provider.

Get Your Solar Financing Application Ready

A well-prepared application starts with two things: a clear solar installation proposal and organized personal, financial, and property documents. Understanding the steps ahead can help you coordinate with your installer, plan your budget, and approach the financing process with greater confidence.

If you’re considering a solar upgrade, review the details of the RCBC Solar Power Loan and confirm the latest eligibility criteria, documents, and processing estimates directly.

You can also explore RCBC Home Loans or contact an RCBC Account Officer to discuss which financing route best fits your home improvement plans.