Personal Loan Calculator (Philippines — Add-on Rate)
Monthly amortization on a Philippine personal loan from monthly add-on quotes, with annualized effective-rate conversion.
Formula
Disclaimer: Indicative math for comparison only. Actual instalments vary with lender rounding, fees, insurance, daily vs monthly reducing methods and rate resets. This is not financial advice — confirm the final schedule with your lender.
Disclaimer: This tool is for general informational and estimation purposes only and is not professional financial, tax, accounting or legal advice. All figures are estimates — verify with a qualified professional before making decisions. Read the full disclaimer.
Need personal loan calculator (philippines results fast? Skip the spreadsheet and get a clear, defensible answer in one step — free, private and instant, recalculating live as you change any input.
About Personal Loan Calculator (Philippines — Add-on Rate)
Philippine lenders quote personal loans as MONTHLY add-on rates — '1.5% per month' means 1.5% of the original ₱150,000 (₱2,250) is added to every instalment. Enter the annualized figure here (monthly add-on × 12; the 18% default = 1.5%/month) and the calculator shows your amortization, the total interest, and the effective annual rate, which for the defaults lands near 33% — the number banks must disclose under the Truth in Lending Act. Salary loans through employers, SSS/GSIS member loans and bank personal loans all price differently: SSS salary loans charge 10% per annum diminishing (far cheaper than commercial add-on products), while app-based lenders can exceed 6%–15% per month — the BSP and SEC cap rates only for small short-term loans of licensed lending companies. Compare every offer on the effective annual rate this tool prints. A one-time processing fee of 3–5% (often deducted from proceeds) is standard, so the cash you receive is less than the principal you owe. If you need ₱150,000 net, apply for ~₱158,000. Avoid stacking multiple app loans — the effective rates compound into a debt spiral faster than the peso amounts suggest.
How to use Personal Loan Calculator (Philippines — Add-on Rate)
- 1Enter Loan amount, Add-on rate per year (monthly add-on × 12) (%), Tenure (years) into the Personal Loan Calculator (Philippines.
- 2The result is computed automatically using Payment = (P + P · flat rate · years) ÷ n — interest is charged on the ORIGINAL principal — there is no button to press; it updates live as you type.
- 3Change any input to model a different scenario, then use “Copy result link” to share the exact numbers.
Why use Personal Loan Calculator (Philippines — Add-on Rate)?
- ✓Computes personal loan calculator (philippines instantly with the correct formula — no spreadsheet needed
- ✓100% free and unlimited, with no sign-up, login or paywall
- ✓Runs entirely in your browser, so the figures you enter are never uploaded or stored
- ✓Shows the formula, a live worked example and references so you can defend the number
Frequently asked questions
What does 1.5% monthly add-on really cost per year?+
Roughly 33% effective annual interest on a 2-year loan — not 18%. Add-on interest ignores your falling balance, so the true rate is nearly double the nominal annualized figure. The Truth in Lending Act (RA 3765) obliges lenders to disclose the effective rate; this calculator estimates it instantly.
Are SSS or Pag-IBIG salary loans cheaper than bank loans?+
Usually, yes. The SSS salary loan charges 10% per annum on a diminishing balance with a 1% service fee — effectively far below commercial add-on products. Pag-IBIG's multi-purpose loan prices similarly against your contributions. Exhaust these member benefits before commercial or app lenders.
Why did I receive less cash than my approved loan amount?+
Processing/service fees (commonly 3–5%) plus documentary stamp tax are deducted from proceeds upfront, while interest accrues on the full approved principal. That gap raises your effective rate further — gross up your application if you need an exact net amount.
What happens if I pay a Philippine personal loan late?+
Late charges of 3–5% of the overdue instalment per month are common, plus collection contact and credit-bureau reporting (CIC). Two consecutive misses can trigger acceleration of the whole balance at some lenders. If trouble looms, request restructuring early — BSP-supervised lenders maintain hardship programs.
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