Personal Loan Calculator Philippines
Estimate your monthly personal loan payment, total interest, and total repayment cost. Enter the loan amount, term in months, and interest rate to generate a complete amortization schedule.
Personal Loan Calculator
Monthly Payment
₱3,321.43
₱10,000 to ₱3,000,000
3 to 60 months
Typical PH rate: 10% - 24%
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₱3,321.43 | ₱2,321.43 | ₱1,000.00 | ₱97,678.57 |
| 2 | ₱3,321.43 | ₱2,344.64 | ₱976.79 | ₱95,333.93 |
| 3 | ₱3,321.43 | ₱2,368.09 | ₱953.34 | ₱92,965.83 |
| 4 | ₱3,321.43 | ₱2,391.77 | ₱929.66 | ₱90,574.06 |
| 5 | ₱3,321.43 | ₱2,415.69 | ₱905.74 | ₱88,158.37 |
| 6 | ₱3,321.43 | ₱2,439.85 | ₱881.58 | ₱85,718.53 |
| 7 | ₱3,321.43 | ₱2,464.24 | ₱857.19 | ₱83,254.28 |
| 8 | ₱3,321.43 | ₱2,488.89 | ₱832.54 | ₱80,765.40 |
| 9 | ₱3,321.43 | ₱2,513.78 | ₱807.65 | ₱78,251.62 |
| 10 | ₱3,321.43 | ₱2,538.91 | ₱782.52 | ₱75,712.71 |
| 11 | ₱3,321.43 | ₱2,564.30 | ₱757.13 | ₱73,148.40 |
| 12 | ₱3,321.43 | ₱2,589.95 | ₱731.48 | ₱70,558.46 |
How Is Your Personal Loan Payment Calculated?
Monthly Payment = P x [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate (annual rate / 12 / 100), and n is the total number of monthly payments. Note: Some Philippine lenders quote a flat monthly add-on rate (e.g., 1.5% per month) rather than a declining-balance rate. This calculator uses the declining-balance (annuity) method, which is the more accurate representation of how interest accrues on the remaining principal.
Example Calculation
You borrow PHP 100,000 over 36 months at 12% annual interest rate (declining balance).
- Loan Amount: ₱100,000
- Loan Term: 36 months
- Annual Interest Rate (declining balance): 12%
- Monthly Payment: ≈ ₱3,321
- Total Interest over 36 months: ≈ ₱19,572
- Total Repayment: ≈ ₱119,572
Tips for Getting a Personal Loan in the Philippines
- Compare the effective interest rate (EIR) rather than the quoted monthly add-on rate. A 1.5% monthly add-on rate translates to a much higher effective annual rate than 18%.
- Check for processing fees, documentary stamp tax, and insurance charges that increase the true cost of borrowing. Some banks charge 1-3% of the loan amount in processing fees.
- Use personal loans only for essential needs. Avoid taking personal loans for discretionary spending -- the high interest rates make them one of the most expensive forms of borrowing.
- If you have a good credit score and a stable income, negotiate with the bank for a lower interest rate. BPI, BDO, CIMB, and Tonik often offer competitive rates for qualified borrowers.
Frequently Asked Questions
This tool is for informational purposes only and should not be considered financial advice. Actual amounts may vary based on your specific situation, lender policies, and current rates. Always consult with a qualified financial professional before making financial decisions.