Loan Calculator

Calculate your monthly payments when taking a loan

Housing Loan Calculator

Estimate your loan payments

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Loan Summary

Monthly Amortization

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Total Interest₱
Total Payment₱

* Default interest rate is indicative. Actual rates may vary based on loan type and policies.

* SSS – Uses add-on (flat) interest computed on the original loan amount.

* Pag-IBIG – Uses diminishing balance interest; interest decreases as you pay.

* Bank – Uses diminishing balance interest similar to Pag-IBIG.

* Default interest rate is indicative. Actual rates may vary based on loan type and policies.

Important Information

Loan Types

  • Personal Loan – short-term unsecured loan for personal expenses
  • Home Loan – long-term loan for purchasing property or real estate
  • Car Loan – loan for purchasing vehicles
  • Education Loan – financial support for tuition and school-related expenses

Loan Calculation Guidelines

  • Monthly payment = Principal + Interest spread over loan term
  • Interest rates vary based on loan type, term, and lender
  • Late payments may incur penalties or additional interest
  • Loan term affects total interest paid: longer terms generally lower monthly payments but increase total interest

Factors Affecting Loan Payment

  • Principal amount – the total loan amount borrowed
  • Interest rate – annual or monthly rate charged by the lender
  • Loan term – number of months/years to repay the loan
  • Compounding frequency – monthly, quarterly, or annually (affects total interest)

Note: This calculator provides an estimate of monthly payments and total interest based on the loan amount, term, and interest rate. For exact computation and loan approval details, consult your bank or lending institution.

Related Links & Resources

Loan Providers

Check loan offers and rates from various banks and lenders

Amortization Table

View a detailed breakdown of monthly payments, principal, and interest

Financial Advice

Learn tips for managing loans and repayment effectively

Frequently Asked Questions

How is my monthly loan payment calculated?▼
Monthly payments are calculated based on the loan principal, interest rate, and loan term. Most loans use a fixed monthly payment formula, also known as an amortization schedule, where part of the payment goes to interest and part to reducing the principal.
What is the difference between fixed and variable interest rates?▼
Fixed interest rates stay the same for the entire loan term, making monthly payments predictable. Variable rates can change periodically based on market conditions, which may increase or decrease monthly payments.
Can I pay off my loan early?▼
Most loans allow early repayment, but some lenders may charge prepayment penalties. Paying off early can reduce total interest paid.
What happens if I miss a loan payment?▼
Missing a payment may result in penalties, late fees, and negatively affect your credit score. It’s important to communicate with your lender if you anticipate difficulty in paying on time.
How can I reduce my monthly loan payments?▼
You can reduce monthly payments by extending the loan term, lowering the interest rate, or making a larger down payment. However, extending the term may increase total interest paid over the life of the loan.
Is it better to get a short-term or long-term loan?▼
Short-term loans generally have higher monthly payments but lower total interest. Long-term loans have lower monthly payments but higher total interest. Choose based on your cash flow and financial goals.