Security Bank Personal Loan Calculator

Loan Payment Formula:

\[ PMT = P \times \frac{r \times (1 + r)^n}{(1 + r)^n - 1} \]

Monthly Payment (PMT):

Total Payment:

Total Interest:

Unit Converter ▲

Unit Converter ▼

From:	To:

1. What is the Security Bank Personal Loan?

Security Bank Philippines offers personal loans with competitive rates. The sample computation shows an APR of 37.53% for a PHP 50,000 loan over 36 months. This calculator helps estimate your monthly payments.

2. How Does the Calculator Work?

The calculator uses the standard loan payment formula:

\[ PMT = P \times \frac{r \times (1 + r)^n}{(1 + r)^n - 1} \]

Where:

\( P \) — Principal loan amount (PHP)
\( r \) — Monthly interest rate (APR/12)
\( n \) — Number of months
\( PMT \) — Monthly payment (PHP)

Explanation: The formula accounts for compound interest over the loan term to calculate fixed monthly payments.

3. Understanding Loan Payments

Details: Your monthly payment remains constant, but the portion going toward principal vs. interest changes over time (more interest paid early in the loan term).

4. Using the Calculator

Tips: Enter principal in PHP, APR as percentage (e.g., 37.53), and term in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the typical APR for Security Bank personal loans?
A: APRs vary but sample computation shows 37.53%. Actual rates depend on creditworthiness and other factors.

Q2: What loan terms are available?
A: Terms typically range from 12 to 60 months (1-5 years).

Q3: Are there any fees besides interest?
A: There may be processing fees or other charges - consult Security Bank for complete details.

Q4: Can I pay off my loan early?
A: Most loans allow early repayment, but check for prepayment penalties or fees.

Q5: How accurate is this calculator?
A: This provides estimates only. Actual loan terms may vary based on bank policies and your specific situation.