We know that in a RC circuit the voltage in the capacitor when is charging is given by:

when this is happening the voltage in the resistor is given by:

In both equations V0 denotes the voltage given by the source, R is the resistance of the resistor and C is the capacitance of the capacitor.
We notice that in both expressions the product RC appear, this product is what we call the time constant of the capacitor; and it is important since it determines the time intervals in which the voltage, charges and currents chage in a RC circuit. This means that while the capacitor is charging or discharging the variables mentioned will always have the time constant in their expressions.