1. What is the Metrobank Credit Card Loan Calculator?

The Metrobank Credit Card Loan Calculator helps you estimate your monthly payments for credit card cash advances or installment plans. It uses the standard loan amortization formula to calculate your payment schedule.

2. How Does the Calculator Work?

The calculator uses the loan payment formula:

Where:

• \( P \) — Principal loan amount (PHP)
• \( r \) — Monthly interest rate (annual rate ÷ 12)
• \( n \) — Number of monthly payments
• \( PMT \) — Monthly payment amount (PHP)

Explanation: The formula accounts for compound interest over the loan term, spreading payments evenly across all months.

3. Importance of Loan Calculation

Details: Understanding your monthly payments helps with budgeting and comparing different loan options. It shows the true cost of borrowing through your credit card.

4. Using the Calculator

Tips: Enter the principal amount in PHP, annual interest rate (check Metrobank's current rates), and loan term in months (typically 6-60 months for credit card loans).

5. Frequently Asked Questions (FAQ)

Q1: What are typical Metrobank credit card loan rates?
A: Rates vary but typically range from 0.99% to 3.5% monthly (12% to 42% annually), depending on promotions and creditworthiness.

Q2: Are there other fees besides interest?
A: Metrobank may charge processing fees (usually 1-3% of principal) and late payment fees. These are not included in this calculation.

Q3: Can I pay off my loan early?
A: Yes, but check if there are pre-termination fees. Early payment reduces total interest paid.

Q4: How accurate is this calculator?
A: It provides estimates based on your inputs. Actual payments may vary slightly due to rounding or specific bank policies.

Q5: Does this work for balance transfers?
A: Yes, if the balance transfer is treated as an installment loan. Enter the transferred amount as principal.