RIZAL Commercial Banking Corp. (RCBC) has announced the launch of Pasado Loans, a new digital product designed to enhance responsive and responsible access to credit for more Filipinos.Pasado Loans enables Filipinos to apply for loans anytime and anywhere without the need for collateral.Applications can be submitted via Pasado.ph or the Pasado Loans portal within the RCBC DiskarTech app.Loan amounts range from P30,000 to P500,000, with flexible repayment terms of six or 12 months.The initial rollout targets individuals with an established credit history or credit card, with plans to expand access to a broader demographic as the service matures.The introduction of Pasado Loans responds to RCBC's observation that traditional brick-and-mortar banks often limit access to credit, creating barriers for potential borrowers.The term 'Pasado,' which means 'qualified' or 'eligible' in Filipino, reflects the service's commitment to empowering Filipinos by providing accessible lending options.The application process for Pasado Loans is streamlined, requiring minimal information from borrowers.Decisions are made within minutes, and approved loan proceeds are instantly credited to the borrower's RCBC DiskarTech account.Funds can then be easily withdrawn through RCBC ATMs or partner merchants using RCBC ATM Go.'We believe that digital lending solutions allow us to meet our customers' credit needs more swiftly and efficiently, especially for those who may feel intimidated by traditional bank visits,' said Arniel Vincent Ong, head of RCBC Credit Cards and Personal Loans.'Currently, 40 percent of RCBC's unsecured loans are serviced digitally. By integrating lending products into our digital platforms, such as RCBC Pulz and DiskarTech, we enhance the customer experience for our clients,' he added.RCBC DiskarTech is the bank's award-winning digital banking app and the world's first financial inclusion application available in a Taglish (Tagalog-English) and Cebuano interface.The app offers a comprehensive suite of banking services, including bank transfers, cardless withdrawals, bill payments, remittances, e-loading, and a competitive savings rate of 4.88 percent annual interest.RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva emphasized that Pasado Loans exemplify the bank's unwavering commitment to making banking services accessible to all Filipinos.He noted that the ease of securing loans and credit through RCBC has significantly accelerated access to empowering financial tools for many.'Today, financial inclusion has democratized opportunities, allowing anyone to benefit. With Pasado Loans, the approval process takes only minutes instead of days,' Villanueva explained.'Pasado Loans aligns with our strategy of simplifying banking for more Filipinos. By ensuring that loans and credit are accessible to all, we make banking relevant and genuinely empowering,' he added.RCBC has quickly risen to become the fastest-growing bank in the Philippines, moving from eighth place in 2018 to fifth in 2023 among the top privately owned universal banks by assets.The bank has garnered numerous accolades, including five consecutive awards as the Philippines' Best Bank for Digital by Euromoney (formerly AsiaMoney), The Asset Triple A Digital Awards, and the Eye on Innovation Award by Gartner.RCBC has also received the YouTube Challenger Award for innovative digital ad campaigns, accumulating over 17 million views combined.Additionally, the bank was named Grand Champion for Digital Payments and Financial Inclusion by the Bankers Institute of the Philippines and ranked number one in the Philippine Best Customer Service 2023 survey conducted by a Philippine broadsheet and global research firm Statista.Furthermore, RCBC boasts the highest system uptime, as confirmed by a regional bank study conducted by Brankas.Visit http://pasado.ph or access the service through the RCBC DiskarTech app for more information.