🇵🇭 Philippines 2026
🚗 Car Loan Calculator
Compute your monthly amortization instantly
⚙️ Loan Details
₱
₱
20%
7%
Monthly Amortization
₱0
for 0 months
Loan Amount
₱0
Total Interest
₱0
Total Payment
₱0
Effective Rate
0%
💡 Pro tip: A 20% down payment is the sweet spot — it lowers your monthly cost significantly and reduces interest. Compare at least 3 banks before signing.
📅 Amortization Schedule
| # | Monthly | Principal | Interest | Balance |
|---|
Car Loan Calculator Philippines 2026
Use this free car loan calculator to instantly compute your monthly amortization. Enter your car price, down payment, loan term, and interest rate — and get a full amortization schedule in seconds.
How to Use This Calculator
- Enter the car price (SRP or negotiated price)
- Set your down payment — use the slider or type the amount
- Choose your loan term (12 to 72 months)
- Select your bank or enter a custom interest rate
- Click Calculate to see your monthly payment and full schedule
Current Car Loan Rates in the Philippines (2026)
- BDO: 7.00% per annum
- BPI: 7.50% per annum
- Metrobank: 6.50% per annum
- PNB: 8.00% per annum
- Security Bank: 7.80% per annum
What is the Formula for Car Loan Amortization?
The standard amortization formula used by Philippine banks is:
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ - 1]
Where: M = monthly payment, P = loan principal, r = monthly interest rate (annual rate ÷ 12), n = number of monthly payments.
❓ Frequently Asked Questions
Yes, but you need to show proof of stable income. Most banks require a minimum monthly income of ₱30,000–₱50,000. Self-employed applicants need 2 years of ITR.
Bank loans typically offer lower interest rates (6–9%) compared to in-house financing (15–30%). However, in-house financing has faster approval and more flexible requirements.
Bank car loans usually take 3–7 business days. Some banks like BDO and BPI offer approval within 24 hours for complete requirements.
Typically: valid government ID, proof of income (payslip/ITR), proof of billing, employment certificate, and bank statements for the last 3 months.
Yes. Most banks allow early payoff but may charge a pre-termination fee (typically 2–5% of the outstanding balance). Always check your loan contract before prepaying.