Calculation results
With an income of ₱60 000 and a bank loan limit of 50% monthly payments cannot exceed ₱30 000
Under credit conditions:
- Annual % rate: 10 %
- Loan term: 36 months.
- Payment type: Annuity
You can get a loan of up to ₱940 000
The Salary Loan Calculator is a tool designed to help you estimate the loan amount you can afford based on your monthly income and loan conditions. It simplifies the process of planning your loan by showing you the maximum loan amount you may qualify for, as well as your expected monthly payments and total loan cost under given interest rates and repayment terms.
What is the Salary Loan Calculator for?
This calculator helps you determine the maximum loan amount you can borrow without overextending your budget, based on your salary and the lender's payment limits. It allows you to plan your repayments responsibly and make informed borrowing decisions.
How the loan amount depends on your salary
The loan amount you can get is typically limited by a percentage of your monthly income, often 50%. The maximum monthly payment you can afford is calculated as:
Max Payment = Salary × Payment Limit Percentage
For example, with a monthly income of ₱60,000 and a 50% payment limit, the maximum monthly loan payment is ₱30,000.
The loan amount is then calculated based on this payment limit, the loan term, and the interest rate.
Calculation method and formulas
Using the annuity payment method, your monthly payment P is calculated using:
Where:
- S = loan amount,
- r = monthly interest rate (annual rate divided by 12 and converted to decimal),
- n = number of monthly payments.
To find the maximum loan amount S you can afford given a monthly payment limit
How to use the Salary Loan Calculator
- Enter your desired loan amount.
- Select your loan term (e.g., 3 to 36 months).
- The calculator will automatically show your estimated monthly payment.
- Adjust the loan amount or term to ensure your monthly payment does not exceed your budget (typically up to 50% of your salary).
- Review the total loan cost and monthly payment to choose the best option for your financial situation.
This tool empowers you to borrow responsibly by aligning your loan with your income and repayment capacity, helping avoid financial stress and make better borrowing choices.
The best loans with online application
Interest |
Loan amount |
Term |
Borrower age |
SEC registered |
||
|---|---|---|---|---|---|---|
|
from 0%
|
₱1,000 — ₱50,000
|
up to 12 months
|
20 — 70 years
|
SEC Registration No. CS201908275 SEC Certificate of Authority No. 2990
|
|
|
APR 182%
|
₱1,000 — ₱30,000
|
from 7 days to 6 months
|
21 — 70 years
|
SEC Registration No. 2021030009095-02 Certificate of Authority N o. 3472
|
|
|
APR 145%
|
₱500 — ₱20,000
|
from 3 to 6 months
|
22+ years
|
SEC Registration number: CS201953O73., Certificate of Authority №1254
|
|