Car Loan Amortization Table Philippines 2026
By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.A car loan's monthly payment depends on the bank, the term and how the bank charges interest. Below: every term at the cheapest bank for your car, a worked example of the add-on method most banks use, and a year-by-year schedule on a yearly rate.
- Add-on rate
- Interest = loan x rate, added to the loan, divided by the months. Used by 7 of 8 banks
- Yearly (effective) rate
- Interest on the balance you still owe, so it falls each month. Used by BDO
- Lowest monthly on ₱1,000,000
- ₱20,967 over 60 months (UnionBank)
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.
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.
Year-by-year schedule on a yearly rate
BDO charges 10.50% a year on the balance you still owe, so each payment of ₱21,494 pays more principal as the balance falls. ₱1,000,000 over 60 months:
| Year | Principal paid | Interest paid | Balance at year end |
|---|---|---|---|
| Year 1 | ₱160,505 | ₱97,421 | ₱839,495 |
| Year 2 | ₱178,194 | ₱79,733 | ₱661,301 |
| Year 3 | ₱197,831 | ₱60,096 | ₱463,470 |
| Year 4 | ₱219,633 | ₱38,294 | ₱243,837 |
| Year 5 | ₱243,837 | ₱14,090 | ₱0 |
Questions
How is car loan amortization computed in the Philippines?
Most banks use an add-on rate: the loan times the rate for the term is the interest; add it to the loan and divide by the number of months. At UnionBank's 60-month rate of 25.80%, ₱1,000,000 becomes ₱1,258,000, or ₱20,967 a month.
More on loan terms
- 20% vs 30% Down Payment
- 36 vs 48 Months
- 48 vs 60 Months
- Best 12-Month
- Best 24-Month
- Best 36-Month
- Best 48-Month
- Best 60-Month
Compare every bank for your car, or see what ₱20,000 a month can finance.