Personal Loan Calculator
Estimate your repayments by month, fortnight, or week. Reveal the full amortization schedule and see the true total cost of borrowing.
Personal Loan Calculator
Amortizing loan · Add-on rates not applied
Use the nominal annual rate (APR), not the monthly add-on rate.
How to read your personal loan numbers
This calculator amortizes your loan on a declining balance: each payment covers the interest accrued for the period first, and whatever is left reduces the principal. That is why early payments are interest-heavy and later payments are almost entirely principal, which you can see period by period in the amortization schedule.
The biggest trap in personal lending in the Philippines is the add-on rate. Many banks and lending apps advertise a monthly rate such as 1.5 percent computed on the original principal for the whole term, even though your balance is shrinking every month. That structure makes the true effective interest rate roughly 1.8 to 2 times the advertised figure. Ask any lender for the disclosed effective interest rate — they are required to provide it — and enter that number here to compare offers fairly.
Switching to fortnightly or weekly payments shortens the average time your balance sits outstanding, so total interest falls slightly even at the same nominal rate. The trade-off is cash-flow discipline: you need money set aside on every pay cycle, not just once a month.
- Compare offers using total cost of the loan, not the monthly payment — a longer term always looks cheaper per month while costing more overall.
- Include processing or disbursement fees: a 3 to 5 percent upfront fee raises your real borrowing cost even when the quoted rate looks low.
- Check the pre-termination policy before signing; some lenders charge a penalty that erases the savings from paying early.
- If the loan is meant to consolidate credit card balances, compare the loan rate with your card's effective monthly rate first.