Personal Loan Calculator

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.