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Loan Calculator: See the Real Cost Before You Borrow

Contents

Every loan app quotes a rate that sounds manageable: 0.4% per day, 1.59% per month, 11.9% monthly on repeats. The loan calculator question is what those numbers become over the life of your loan. In pesos, and in yearly terms. This page gives you the formula, three worked examples from our tables, and the four inputs that decide whether an offer is cheap or a trap. Checked September 2026.

The formula, step by step

Five inputs, four operations.

  1. Principal: what actually landed in your account, after any deductions.
  2. Total repayment: every peso you will pay, interest and fees combined.
  3. Term in days: the real days between disbursement and final payment.
  4. The math: (total − principal) ÷ principal × 365 ÷ days × 100 = effective APR, our estimate.
  5. Compare: that yearly figure against the published ceilings in our low-interest ranking.

Worked example 1: flat-rate cash loan (VPlus)

VPlus's listing example: ₱12,000, 120 days, ₱720 interest, repay ₱12,720.

(12,720 − 12,000) ÷ 12,000 × 365 ÷ 120 = 0.06 × 3.0417 = ≈18.25% a year (our estimate). Close to the stated 18% cap — honest pricing.

Worked example 2: fee-heavy short loan (Moca Moca)

Moca Moca's example: ₱5,000, 180 days, interest ₱246, service fee ₱500, repay ₱5,746.

(5,746 − 5,000) ÷ 5,000 × 365 ÷ 180 = 0.1492 × 2.0278 = ≈30.3% a year (our estimate). The fee turned a 10% APR headline into 30% reality. Worst case at the 91-day/20%-APR corner: about 60%.

Worked example 3: diminishing-balance loan (SSS)

The SSS salary loan uses standard amortization, not flat interest. ₱20,000 over 24 months at 8% a year diminishing: monthly payment ≈ ₱905, total interest ≈ ₱1,713 (our computation). That is 8.6% of principal across two years — the market's price anchor.

The four inputs that decide everything

Input Why it matters Example
Term Shorter terms concentrate fees Moca Moca fee: +20 pts at 180 days, +40 at 91
Fee size A 10% fee on 91 days adds 40 annualized points same source
Rate basis Daily × 365, monthly × 12; the basis must be stated JuanHand 0.025% with no basis
Net proceeds Money you actually receive, after deductions Home Credit processing fee: deducted

Frequently asked questions

How do I calculate the real APR on a loan app?

(total repayment − principal) ÷ principal × 365 ÷ days × 100. Use the disclosure screen's numbers, not the marketing page's.

What is a good APR for a loan app in the Philippines?

Published ceilings run from 18% (VPlus) to 180% (Cashalo's store cap). At or below 36% a year is competitive for the niche; anything above 100% deserves a second lender.

Why does the fee matter more than the rate?

Fees apply to the full principal on day one regardless of term. On short loans, a 10% fee adds more yearly cost than the interest cap itself.

The bottom line for borrowers

The formula is four operations and a screenshot. Run it before you accept anything, and let the yearly figure — not the daily teaser — make the decision. Every example here is recomputed from lender disclosures checked August and September 2026.

Sources used for this review