Philippine Loan Calculator
Calculate payments for Pag-IBIG housing loans, bank mortgages, auto loans, and personal loans. Get detailed amortization schedules and see how much you can save with Philippine interest rates.
How to Calculate Your Loan
Choose Loan Type
Select Housing (Pag-IBIG or bank), Auto, or Personal loan with pre-filled Philippine interest rates
Enter Loan Details
Input loan amount in PHP, select term (5-30 years), and adjust interest rate based on your lender
View Payment Breakdown
See monthly payment, total interest, and complete amortization schedule showing principal vs interest each month
Compare & Plan
Try different scenarios (shorter terms, extra payments) and compare Pag-IBIG vs bank options to save thousands
Pro Tips for Philippine Loans
🏠Pag-IBIG Saves Millions
For ₱3M housing loan over 20 years: Pag-IBIG at 6.5% costs ₱22,400/month (₱5.4M total) vs bank at 9% costs ₱27,000/month (₱6.5M total). That's ₱1.1M saved with Pag-IBIG! Maximum ₱6M loan, 30-year term available.
⏱️Shorter Terms = Huge Savings
₱2M loan at 8%: 30 years = ₱14,700/month (₱5.3M total interest), 15 years = ₱19,100/month (₱2.4M interest). Pay ₱4,400 more monthly, save ₱2.9M over loan life. If you can afford it, choose 15-20 year terms.
💰Extra Payments Multiply
Adding just ₱5,000/month extra to a ₱3M, 20-year loan at 7% cuts 6 years off repayment and saves ₱800,000 in interest. 13th-month pay, bonuses, or tax refunds directly to principal = massive long-term savings.
📊Shop Around for Rates
1% interest difference = ₱300,000-500,000 saved on typical housing loans. Get quotes from Pag-IBIG, BPI, BDO, Metrobank, Security Bank, and RCBC. Check both fixed and variable rates. Pre-approved loans often get better rates.
🎯20% Down Payment Minimum
Most Philippine banks require 20% down for housing (Pag-IBIG allows 10-20%). For ₱3M property: need ₱600K down. Higher down payment = lower monthly payments and less total interest. Save aggressively before buying.
⚠️Don't Exceed 30% Income
Monthly loan payment shouldn't exceed 30-35% of gross income. With ₱60K salary: max ₱18-21K payment. This ensures you can still save, invest, and handle emergencies. Banks use debt-to-income ratio for approval.
Who Uses Philippine Loan Calculator?
First-Time Home Buyers
Calculate if you can afford that ₱2-5M house or condo with your current salary, compare Pag-IBIG vs bank mortgages, and plan your down payment timeline.
Auto Loan Shoppers
Calculate car loan payments for that ₱800K-1.5M vehicle, compare 3-year vs 5-year terms, and understand the true cost including interest.
Personal Loan Seekers
Calculate personal loans for debt consolidation, home improvements, or emergencies. See if consolidating high-interest debt saves money.
Frequently Asked Questions
Q: How much house can I afford with my salary in the Philippines?
A: Rule of thumb: Maximum house price = 5-6x annual gross income. With ₱60K/month salary (₱720K/year), you can afford ₱3.6-4.3M property. Banks typically approve loans where monthly payment ≤ 30-35% of income. At ₱60K salary: max ₱18-21K monthly payment, which can finance ₱2.5-3M loan at 7% for 20-25 years.
Q: Should I choose fixed or variable interest rate for housing loans?
A: Fixed rate (5-10 years): predictable payments, good when rates are low or rising. Variable rate: lower initial rate (0.5-1% less), but can increase. For Philippine housing: most banks offer 1-5 year fixed, then variable. Pag-IBIG offers fixed rates entire loan term (rare!). Best strategy: fixed rate if you can lock in 6-7%, variable if starting below 6%.
Q: How much can I save by paying off my loan early?
A: Huge savings! Example: ₱3M loan at 7% for 20 years costs ₱5.8M total (₱2.8M interest). Pay extra ₱5K/month: finish in 14 years, save ₱900K. Pay extra ₱10K/month: finish in 11 years, save ₱1.4M. Early payments reduce principal, which compounds. Even 13th-month pay applied to principal annually saves ₱200-400K over loan life.
Q: What's included in my monthly loan payment in the Philippines?
A: Housing loans: Principal + Interest + (optional) Property Insurance + Fire Insurance. Some banks add MRI (Mortgage Redemption Insurance). Typical ₱3M loan: ₱23K payment + ₱1-2K insurance = ₱24-25K total monthly. Auto loans: Principal + Interest + Comprehensive Insurance (required). Personal loans: Usually just principal + interest, no add-ons.
Q: Can OFWs apply for Pag-IBIG housing loans?
A: Yes! OFWs can apply with 24+ monthly Pag-IBIG contributions. Requirements: valid employment contract abroad, proof of income, co-borrower in Philippines (optional but helps). Maximum ₱6M loan, 6.5-7% interest rate, 30-year term. Many OFWs secure ₱2-4M loans for properties back home. Monthly contributions continue during loan term. Use our calculator with your overseas salary converted to PHP.
Q: Is it better to buy a house or just rent in the Philippines?
A: Buy if: You'll stay 7+ years, have 20% down payment saved, monthly payment ≤ rent you'd pay, and career is stable. Rent if: Job requires relocating, down payment not ready, or career still uncertain. Break-even is typically 5-7 years. Example: ₱3M condo = ₱23K/month loan vs ₱25K/month rent. After 7 years, you own ₱1.5M equity vs ₱0 with rent. But buying has ₱150-200K upfront costs (transfer tax, registration).
Q: What happens if I miss loan payments in the Philippines?
A: 1-30 days late: Penalty fee (typically 1-3% of monthly payment) + phone calls. 60-90 days: Reported to credit bureaus, affects future loan applications. 90+ days: Account goes to collections, legal action possible. Housing loans: After 6 months default, foreclosure proceedings begin. Best action: Call lender immediately, request restructuring or temporary payment reduction. Most banks work with borrowers during genuine hardships.
Philippine Loan Calculator
Calculate monthly payments for housing loans (Pag-IBIG, bank mortgages), auto loans, and personal loans. Get detailed amortization schedules and total cost breakdowns.
Loan Calculator
💡 Quick Tips
- • Higher down payment = Lower monthly payments
- • Shorter loan term = Higher payments but less interest
- • Compare rates from multiple lenders
- • Consider total cost, not just monthly payment
Ready to Calculate
Enter your loan details on the left to see payment calculations and amortization schedule.
Philippine Loan Types Guide
🏠Housing Loans
🚗Auto Loans
💳Personal Loans
Smart Loan Planning Tips
Before Applying
- Check your credit score and clean up any issues
- Save for a larger down payment to reduce monthly payments
- Compare rates from multiple lenders
- Calculate total debt-to-income ratio (should be <30%)
During the Loan
- Set up auto-pay to never miss payments
- Make extra principal payments when possible
- Consider refinancing if rates drop significantly
- Keep an emergency fund for 3-6 months of payments