Best 60-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 60-month car loan payment is at UnionBank: ₱20,967 a month on ₱1,000,000, or ₱258,000 in interest over the loan. 8 banks lend for 60 months.

Lowest monthly: ₱20,967, UnionBank
Highest monthly: ₱22,087, Security Bank
Total interest at the lowest: ₱258,000
Rates for this term: 10.50% to 32.52%

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 60 months

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

Bank	Rate	About a year	Monthly	Total interest
UnionBank	25.80% add-on	9.4%	₱20,967	₱258,000
Maybank	27.30% add-on	9.9%	₱21,217	₱273,000
BDO	10.50% a year	10.5%	₱21,494	₱289,634
RCBC	29.60% add-on	10.7%	₱21,600	₱296,000
EastWest	30.24% add-on	10.9%	₱21,707	₱302,400
Metrobank	30.26% add-on	10.9%	₱21,710	₱302,600
BPI	31.01% add-on	11.2%	₱21,835	₱310,100
Security Bank	32.52% add-on	11.7%	₱22,087	₱325,200

How the monthly payment is worked out

UnionBank's 60-month add-on rate of 25.80% 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 25.80% = ₱258,000

2Total to repay: loan + interest₱1,258,000

3Monthly payment: total divided by 60 months₱20,967

=As a yearly rate on the balance, that is about9.43% a year

Questions

Which bank has the best 60-month car loan?

UnionBank, at ₱20,967 a month on ₱1,000,000 brand new. Next: Maybank ₱21,217, BDO ₱21,494.

Is 60 months a good term for a car loan?

60 months costs ₱20,967 a month and ₱258,000 in interest on ₱1,000,000 at the cheapest bank. Over 36 months the monthly rises to ₱32,003 but interest falls to ₱152,100. 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.