Personal Loan Calculator
eCompareMo’s personal loan calculator will give you a broad estimate on what your monthly payment will be and what the matured loan payment will be after it.
Get prequalified for a Personal Loan
Answer a few question to see which personal loan you pre-qualify for. The process is quick and easy, and it will not inmpact your credit score.
This is a good tool for people seeking a loan and wants to check if they will be able to meet the monthly payment. Calculator tool allows the borrower to project how much the monthly payment would be and how long will it take them to pay it off.
When you are aware of the numbers or at least know the potential outcome, you can easily decide on your options that will suit your needs. Just make sure that your budget can handle the payments. In the end, you will land on the best deal by simply testing dozens of options with this personal loan calculator.
Definition of Terms on the Personal Loan Calculator
Amount of loan
Total amount you intend to borrow.
Tenor
Also knows as the term of the loan. It could be an amount of time left for the repayment of a loan or the initial term length of a loan. It can be expressed in years, months or days.
Interest Rate
Amount charged and expressed as a percentage for the use of money by a lender to a borrower. Interest rates are typically noted on an annual basis. It is calculated by dividing the amount of interest by the amount of principal.
Estimated Monthly Installment
Estimated premium to be paid out on a monthly basis that covers principal and interest.
Estimated Total Payment
Total cash out to be made on the Loan over the specified period of time consisting of Loan principal and total Interest.
Flat Interest rate
Fixed interest charged to the loan. This is computed by multiplying the total loan with the interest and term of loan.
If you are in search for a personal loan with lowest interest rate, eCompareMo can definitely help. Our comparison tool carries the most comprehensive information about applying for a cash loan in the Philippines.
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