Reference
Philippine bank and government financial products — rates, terms, and fees for reference. Always verify directly with the institution before making decisions.
Credit Card
Converts existing credit card purchases or outstanding balances into fixed monthly installments using the add-on (flat) interest method.
| Bank | Product | Standard Rate | Terms | Processing Fee |
|---|---|---|---|---|
| BPI | Balance Conversion | 0.99%/month | 6–60 months | ₱300 (≤₱50K) / ₱500 (>₱50K) |
| BDO | Balance Convert | ~0.88%/month | Up to 60 months | ₱350 |
| Metrobank | Balance Conversion | Up to 1.00%/month | 3–60 months | ₱500 |
| Security Bank | BalCon | Personalized | 3–24 months | Varies |
| UnionBank | EasyConvert | Personalized | Varies | Varies |
| HSBC | Card Balance Conversion | Up to 1.00%/month | Up to 24 months | Varies |
| RCBC | UNLI Installment | Up to 1%/month | Varies | Varies |
| Eastwest Bank | Convert-to-Installment (CTI) | — | Varies | — |
| Maybank | EzyConvert | — | Varies | — |
| PNB | Transaction Conversion | — | Varies | — |
Promo rates (as low as 0.49%) are typically invite-only or limited-time.
Credit Card
Converts available (unused) credit limit into cash deposited to your bank account.
| Bank | Product | Standard Rate | Terms | Min Amount |
|---|---|---|---|---|
| BPI | Credit-to-Cash | 0.99%/month | 6–60 months | ₱3,000 |
| Metrobank | Cash2Go | Up to 1%/month | 3–60 months | Varies |
| BDO | Cash It Easy / Avail Cash Now | Personalized | Up to 36 months | ₱10,000 |
| Security Bank | Ready Cash | Personalized | 3–24 months | ₱10,000 |
| RCBC | YourCash | Up to 1%/month | Varies | ₱20,000 |
Processing fees typically range from ₱250–₱500 per availment.
Credit Card
Buy from partner merchants at 0% interest — the merchant subsidizes the cost. The total price may be marked up compared to the cash price.
| Bank | Program | Max Terms | Min Purchase |
|---|---|---|---|
| BPI | Real 0% SIP / FlexipayZero | 36 months | ₱3,000 |
| BDO | 0% Installment | 24 months | Varies |
| Metrobank | 0% Installment | 36 months | Varies |
| HSBC | Card Instalment Plan (HIP) | 36 months | Varies |
| RCBC | Easyterms / Unli 0% | 36 months | No min (Unli 0%) |
| Security Bank | ChargeLight | 24 months | ₱5,000 |
| EastWest | 0% Installment | 24 months | ₱3,000 |
| PNB | ZAPP | 24 months | Varies |
Loans
Standalone bank loans, separate from credit cards. Subject to Documentary Stamp Tax (DST) on loan amounts above ₱250,000 (~0.75% of the loan face value, deducted from proceeds).
| Bank | Monthly Rate | Approx. EIR (p.a.) | Terms | Processing Fee | Max Loan |
|---|---|---|---|---|---|
| BDO | 1.39%–1.79% | 18%–24% | 6–36 months | ₱1,300 | ₱3M |
| BPI | ~1.20% | 25%–29% | 12–36 months | ₱1,500 | ₱3M |
| Metrobank | ~1.25% | 30%–33% | 12–36 months | ₱1,500 | ₱2M |
| UnionBank | Personalized | Varies | Varies | Varies | ₱2M |
| Security Bank | Personalized | Varies | 12–36 months | Varies | ₱2M |
| Tonik | ~1.79%–3.46% | Varies | 6–24 months | None | ₱250K |
Government
For SSS members with at least 36 months of posted contributions. Interest is charged using the add-on (flat) method on the original loan principal.
| Detail | Rate / Terms |
|---|---|
| Interest Rate | 10% per annum (flat / add-on) |
| Standard Term | 24 months |
| One-Month Loan | 1× AMSC, 12 months |
| Two-Month Loan | 2× AMSC, 24 months |
| Max Loan | Up to 2× Average Monthly Salary Credit (AMSC) |
| Application | Via SSS branch, My.SSS portal, or accredited agents |
Effective interest rate is higher than the stated 10% p.a. because interest is computed on the full original principal, not on the declining balance.
Government
Pag-IBIG housing loans use declining balance amortization — monthly interest decreases as the principal is paid down over time.
| Loan Amount | Interest Rate |
|---|---|
| ≤ ₱750,000 | 3.00% for first 5 years, 5.375% thereafter |
| ₱750K–₱6M | 6.375% fixed for full term |
| Additional Cost | Approximate Rate |
|---|---|
| MRI (Mortgage Redemption Insurance) | ~0.25% of loan / 12 per month |
| Fire Insurance | ~0.10% of loan / 12 per month |
| Detail | Info |
|---|---|
| Max Loan | ₱6 million |
| Max Term | 30 years |
| Eligible Members | Active with ≥ 24 monthly contributions |
| Amortization Formula | PMT = P × [r(1+r)^n] / [(1+r)^n − 1] (declining balance) |
Loans
Philippine auto loans use add-on (flat) interest. All bank-financed vehicles require a chattel mortgage registered with the LTO — typically 1–2% of the loan amount added to total cost.
| Bank | Monthly Rate | Down Payment | Terms | Chattel Mortgage |
|---|---|---|---|---|
| BDO | 0.5%–1.2% flat | 20–30% | 12–60 months | ~1.5% of loan |
| BPI | 0.5%–1.2% flat | 20–30% | 12–60 months | ~1.5% of loan |
| Metrobank | 0.5%–1.2% flat | 20–30% | 12–60 months | ~1.5% of loan |
| Security Bank | Personalized | 20–30% | 12–60 months | ~1.5% of loan |
| UnionBank | Personalized | 20–30% | 12–60 months | ~1.5% of loan |
| In-house (dealers) | 1.0%–2.0% flat | 20–40% | 12–60 months | Included |
Loans
Private bank housing loans supplement Pag-IBIG. They use declining balance amortization. Rates are typically fixed for 1–5 years, then repriced.
| Bank | Typical Rate | Max Term | Max Loan |
|---|---|---|---|
| BDO | 5.5%–7.5% p.a. | 20 years | ₱20M |
| BPI | 5.5%–7.5% p.a. | 20 years | ₱25M |
| Metrobank | 5.5%–7.5% p.a. | 20 years | ₱25M |
| Security Bank | 5.75%–7.75% p.a. | 20 years | Varies |
Reference
A quick comparison of typical rates and interest methods across major product types.
| Product Type | Interest Method | Typical Rate | Approx. EIR |
|---|---|---|---|
| Credit card revolving | Declining balance | 2%/month | 24–36% p.a. |
| CC balance conversion | Add-on (flat) | 0.49%–1.00%/month | 10%–23% p.a. |
| Personal loan (bank) | Add-on (flat) | 1.20%–1.79%/month | 25%–33% p.a. |
| SSS salary loan | Add-on (flat) | 10% p.a. stated | ~18% effective |
| Car loan (bank) | Add-on (flat) | 0.5%–1.2%/month | 11%–27% p.a. |
| Pag-IBIG housing | Declining balance | 3%–6.375% p.a. | = stated rate |
| Private bank housing | Declining balance | 5.5%–7.75% p.a. | = stated rate |
Regulatory
| Regulation | Limit |
|---|---|
| Credit card revolving interest | 3% per month / 36% per annum |
| Installment loan add-on rate | 1% per month maximum |
| Cash advance processing fee | ₱200 per transaction maximum |
Source: BSP Circular No. 1098 (2020), updated by Circular No. 1165 (2023).
Rates, fees, and terms shown are based on publicly available information and are subject to change. Promo rates are often invitation-only or limited-time. Always verify directly with the bank or institution before making any financial decision.