- Loan amount₱90,000
- Total interest₱23,762
- Total cost₱113,762
How it is calculated
The calculator assumes a fixed rate and equal monthly payments. Each payment covers the interest for that month and pays down part of the loan, so the interest share falls over time.
The APR adds any one-off fee to the cost and shows it as a yearly rate on the money you actually receive. It is the fairest number for comparing offers from different lenders.
Questions
Is a longer term cheaper?
The monthly payment is lower, but you pay interest for longer, so the total cost goes up. Compare 36 and 60 months with the same rate.
What is the difference between the interest rate and the APR?
The interest rate only prices the money borrowed. The APR also includes fees, so a loan with a low rate and a high fee can cost more than one with a slightly higher rate and no fee.
Now keep it on track Set the result as a budget in Spendee and see each month how much is left.
Other calculators
- Salary calculator PHTake-home pay from gross salary
- Tax calculator for freelancers and self-employedCompare 8 % tax with graduated rates for freelancers.
- Tax on interest, dividends, shares and propertyFinal tax on interest, dividends, shares and property.
- Rental income tax calculatorTax on rent, with the 8 % option or graduated rates.
- Tax deadlines2026
- Mortgage calculatorMonthly payment and total interest
- Compound interest calculatorGrowth with compound interest
- Savings calculatorCompound growth of regular deposits
- 50/30/20 budget calculatorSplit income into needs, wants and savings