How to See Loan Interest Rates in the Philippines
When applying for a loan, one of the most important factors to check is the interest rate.
It determines how much you will actually pay back on top of the amount you borrowed.
In the Philippines, loan interest rates vary depending on the type of loan, the provider, and your financial profile.
Learning how to see and compare these rates will help you choose the most affordable and reliable option.
Why Interest Rates Matter
- Total cost: Higher interest means more money paid over time.
- Approval chances: Some lenders adjust rates based on your income or credit history.
- Comparison tool: Rates help you decide which bank, government program, or loan app is best.
- Budget planning: Knowing the rate allows you to calculate monthly payments accurately.
Where to Find Loan Interest Rates
You can check loan interest rates in the Philippines through several reliable sources:
- Bank websites – Banks like BDO, BPI, Metrobank, and Security Bank publish loan rates online.
- Government programs – SSS, Pag-IBIG, and GSIS list their salary and calamity loan rates on official portals.
- Loan apps – Apps like Tala, Cashalo, and Digido show rates inside their platforms before you confirm borrowing.
- Comparison websites – Third-party platforms sometimes display updated loan rates across multiple lenders.
- Branch visits – You can also inquire directly at banks or microfinance institutions.
Average Loan Interest Rates in the Philippines
Interest rates vary depending on the type of loan and the provider. Below is a general comparison:
| Loan Type | Provider Examples | Interest Rate Range | Notes |
|---|---|---|---|
| Personal Loans | BDO, BPI, Metrobank, UnionBank | 1% – 3.5% per month | Often fixed, depends on income and credit score |
| Government Loans | SSS, GSIS, Pag-IBIG | 6% – 10% per year | Generally lower rates, but for members only |
| Loan Apps / Fintech | Tala, Cashalo, Digido, JuanHand | 5% – 15% per month | Quick approval but higher rates |
| Credit Cards (Cash Advance) | BDO, RCBC, Security Bank | 2% – 3.5% per month | High cost, usually for emergencies |
| Microfinance Loans | CARD Bank, Cebuana, M Lhuillier | 2% – 4% per month | Designed for small businesses or daily needs |
Note: Rates change depending on promotions, borrower profile, and lender policies.
Tips for Comparing Loan Interest Rates
- Check APR (Annual Percentage Rate) – It shows the true yearly cost of the loan including fees.
- Watch out for hidden charges – Processing fees, penalties, and insurance can raise the total cost.
- Compare repayment terms – Shorter terms may have higher monthly payments but lower total interest.
- Use loan calculators – Many banks and apps provide tools to simulate payments.
- Choose reputable lenders – Always confirm rates from official sources to avoid scams.
Frequently Asked Questions
Where can I see the lowest loan interest rates in the Philippines?
Government loans from SSS, GSIS, and Pag-IBIG usually offer the lowest rates.
Do loan apps show interest rates before borrowing?
Yes. Apps are required to display the monthly interest and total repayment amount before you confirm.
Why are loan app interest rates higher than banks?
Because apps take more risks by lending without collateral and with fewer requirements.
How can I know the exact interest rate for my loan?
Check the official website or portal of your chosen lender, or use their online loan calculator.
Is the interest rate fixed for the whole loan term?
Some banks and government programs use fixed rates, while others may adjust depending on market conditions.