1. What is Metrobank Salary Loan?

Metrobank Salary Loan is a personal loan offered to salaried individuals in the Philippines, providing quick access to funds with convenient repayment terms deducted directly from the borrower's salary.

2. How Does the Calculator Work?

The calculator uses the standard loan payment formula:

Where:

• \( P \) — Principal loan amount (PHP)
• \( r \) — Monthly interest rate (decimal)
• \( n \) — Loan term in months
• \( PMT \) — Monthly payment amount (PHP)

Explanation: The formula calculates the fixed monthly payment required to fully repay a loan over its term, including both principal and interest components.

3. Importance of Loan Calculation

Details: Understanding your monthly payment helps in budgeting and ensures the loan is affordable before committing. It also allows comparison between different loan offers.

4. Using the Calculator

Tips: Enter the principal amount in PHP, monthly interest rate as decimal (e.g., 1% = 0.01), and loan term in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is Metrobank's typical interest rate?
A: Interest rates vary but typically range from 1% to 1.5% monthly for salary loans, depending on borrower qualifications.

Q2: Are there other fees besides interest?
A: Metrobank may charge processing fees (usually 1-3% of loan amount) and documentary stamps tax (PHP 1.50 per PHP 200).

Q3: What is the maximum loan term available?
A: Salary loans typically have terms from 6 to 36 months, depending on the borrower's employment status and salary.

Q4: Can I prepay my loan?
A: Yes, but check for prepayment penalties which may apply in some cases.

Q5: How is the interest rate determined?
A: Rates depend on your employer's agreement with Metrobank, your credit history, and current market conditions.