Online loans Pilipinas Calculator

Below is an example of an online loans Pilipinas calculator:

• Loan amount: ₱10,000
• Interest rate: 15% per month
• Loan term: 3 months

Computation:

• Monthly amortization = (loan amount * interest rate) / (12 * loan term) = (10,000 * 15%) / (12 * 3) = ₱500

Total amount to pay:

• Monthly amortization * loan term = 500 * 3 = ₱1,500

Processing fee:

• 10% of the loan amount = 10% * 10,000 = ₱1,000

Total amount to pay:

• Loan amount + processing fee + monthly amortization = 10,000 + 1,000 + 1,500 = ₱12,500