Best 48-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 48-month car loan payment is at UnionBank: ₱25,135 a month on ₱1,000,000, or ₱206,500 in interest over the loan. 8 banks lend for 48 months.

Lowest monthly: ₱25,135, UnionBank
Highest monthly: ₱25,983, Security Bank
Total interest at the lowest: ₱206,500
Rates for this term: 10.25% to 24.72%

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.

Car

Price

Down payment

20%30%40%50%

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 48 months

₱1,000,000 loan, brand new car, lowest monthly first.

Bank	Rate	About a year	Monthly	Total interest
UnionBank	20.65% add-on	9.5%	₱25,135	₱206,500
Maybank	20.66% add-on	9.5%	₱25,138	₱206,600
BDO	10.25% a year	10.3%	₱25,483	₱223,175
RCBC	22.88% add-on	10.5%	₱25,600	₱228,800
Metrobank	23.55% add-on	10.8%	₱25,740	₱235,500
EastWest	24.12% add-on	11.0%	₱25,858	₱241,200
BPI	24.13% add-on	11.0%	₱25,860	₱241,300
Security Bank	24.72% add-on	11.3%	₱25,983	₱247,200

How the monthly payment is worked out

UnionBank's 48-month add-on rate of 20.65% on a ₱1,000,000 loan, step by step. Most banks charge this way.

1Interest for the whole term: loan x add-on rate₱1,000,000 x 20.65% = ₱206,500

2Total to repay: loan + interest₱1,206,500

3Monthly payment: total divided by 48 months₱25,135

=As a yearly rate on the balance, that is about9.53% a year

Questions

Which bank has the best 48-month car loan?

UnionBank, at ₱25,135 a month on ₱1,000,000 brand new. Next: Maybank ₱25,138, BDO ₱25,483.

Is 48 months a good term for a car loan?

48 months costs ₱25,135 a month and ₱206,500 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

Compare every bank for your car, or see what ₱20,000 a month can finance.