Best 12-Month Car Loan 2026
By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.The lowest 12-month car loan payment is at BDO: ₱86,757 a month on ₱1,000,000, or ₱41,089 in interest over the loan. 8 banks lend for 12 months.
- Lowest monthly
- ₱86,757, BDO
- Highest monthly
- ₱89,033, EastWest
- Total interest at the lowest
- ₱41,089
- Rates for this term
- 5.19% to 7.50%
Every term for your car
Pick your car or type its price. Each row is the bank with the lowest monthly payment for that term.
| Pay over | Cheapest bank | Monthly | Total interest | Total paid |
|---|---|---|---|---|
| 12 months | BDO | ₱86,757 | ₱41,089 | ₱1,291,089 |
| 18 months | BDO | ₱59,140 | ₱64,525 | ₱1,314,525 |
| 24 months | BDO | ₱45,800 | ₱99,189 | ₱1,349,189 |
| 36 months | Maybank | ₱32,003 | ₱152,100 | ₱1,402,100 |
| 48 months | UnionBank | ₱25,135 | ₱206,500 | ₱1,456,500 |
| 60 months | UnionBank | ₱20,967 | ₱258,000 | ₱1,508,000 |
Example car, ₱1,250,000, brand new, at the bank with the lowest monthly for each term. Total paid includes the down payment, not insurance or one-time charges.
Every bank at 12 months
₱1,000,000 loan, brand new car, lowest monthly first.
| Bank | Rate | About a year | Monthly | Total interest |
|---|---|---|---|---|
| BDO | 7.50% a year | 7.5% | ₱86,757 | ₱41,089 |
| Metrobank | 5.19% add-on | 9.4% | ₱87,658 | ₱51,900 |
| RCBC | 5.35% add-on | 9.7% | ₱87,792 | ₱53,500 |
| BPI | 5.43% add-on | 9.9% | ₱87,858 | ₱54,300 |
| Maybank | 5.43% add-on | 9.9% | ₱87,858 | ₱54,300 |
| Security Bank | 5.61% add-on | 10.2% | ₱88,008 | ₱56,100 |
| UnionBank | 6.00% add-on | 10.9% | ₱88,333 | ₱60,000 |
| EastWest | 6.84% add-on | 12.4% | ₱89,033 | ₱68,400 |
How the monthly payment is worked out
Metrobank's 12-month add-on rate of 5.19% on a ₱1,000,000 loan, step by step. Most banks charge this way.
Questions
Which bank has the best 12-month car loan?
BDO, at ₱86,757 a month on ₱1,000,000 brand new. Next: Metrobank ₱87,658, RCBC ₱87,792.
Is 12 months a good term for a car loan?
12 months costs ₱86,757 a month and ₱41,089 in interest on ₱1,000,000 at the cheapest bank. Over 60 months the monthly drops to ₱20,967 but interest rises to ₱258,000. Pick the shortest term whose monthly fits your budget.
More on loan terms
- 20% vs 30% Down Payment
- 36 vs 48 Months
- 48 vs 60 Months
- Best 24-Month
- Best 36-Month
- Best 48-Month
- Best 60-Month
- Car Loan Amortization Table Philippines
Compare every bank for your car, or see what ₱20,000 a month can finance.