Personal Loan Repayments Calculator

Personal loan repayments are calculated using standard amortisation: your loan amount, the annual interest rate and the term combine into a fixed monthly payment that covers both interest and principal. Early payments are mostly interest; later ones are mostly principal. This calculator uses the same formula banks use, so move the sliders to see your monthly repayment, total interest and total payable instantly.

Personal loan interest rates in the Philippines are much higher than home loan rates — they commonly range from around 18% to 36% per year (often quoted as a 1.5% to 3% monthly add-on rate). The exact rate depends on the lender, your income and your credit profile. Because rates vary so widely, it pays to compare. Nook is a mortgage broker, so for a home purchase we can usually secure a far lower secured rate than an unsecured personal loan.

Yes — a home loan is almost always far cheaper than a personal loan. Home loans are secured against the property, so banks offer single-digit rates, while unsecured personal loans often run 18% to 36% per year. If you are borrowing to buy, build or improve a home, a housing loan will usually cost a fraction of a personal loan. Nook compares 20+ banks free of charge to find your sharpest home loan rate.

Your monthly repayment depends on three things: how much you borrow, the interest rate and the term. As a guide, a ₱300,000 personal loan at 18% per year over 3 years works out to roughly ₱10,800 a month. Use the sliders above to enter your own figures and see your exact monthly repayment, total interest and total amount payable.

Yes. Spreading the same loan over a longer term lowers your monthly repayment because the principal is split across more payments. The trade-off is that you pay more total interest over the life of the loan. Use the term slider to compare: a shorter term costs more each month but less overall, while a longer term is easier monthly but more expensive in total.