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Philippine Personal Loans: Rate, Fee, and Term Trade-Offs
CIMB starts at 18% annually, while EastWest reaches ₱3 million. Compare eight Philippine loans by cost, fees, eligibility, and term.
Quick Picks
Lowest advertised rate: CIMB Personal Loan, from 18% annually, subject to assessment.
Best for a large loan: EastWest Personal Loan, with borrowing up to ₱3 million and terms up to 60 months.
Most predictable pricing: BDO Personal Loan, with a published ACR range of 25.98%–26.76%.
Best for freelancers and OFW beneficiaries: SB Finance Personal Loan, though its fees and roughly 39.43% APR raise the total cost.
Rates are not directly interchangeable: some lenders advertise monthly add-on rates, while others publish annual contractual rates or effective annual rates. Compare the total repayment amount, not just the headline percentage.
Rates and terms shown are representative. Your actual rate depends on your credit profile and circumstances. This is not financial advice — always read the lender's terms before applying.
What Changed in the Loan Market
The biggest shift is the split between app-first lenders and traditional banks. CIMB and UnionBank let borrowers begin digitally, while BDO, BPI, Metrobank, EastWest, PSBank, and SB Finance bring established-bank processes, branch access, or broader eligibility rules.
The cheapest advertised rate is not automatically the cheapest loan. CIMB starts at 18% annually, but its rate can rise to 36% and early settlement carries a 3% fee. UnionBank advertises a 1.26% monthly add-on rate, yet its stated effective rate including fees reaches 31.98%. A lower monthly figure can therefore conceal a higher all-in cost.
Loan size and term matter just as much. A ₱3 million ceiling is useful only if the repayment fits your income, and a 60-month term lowers the monthly bill while extending interest for years. Use the lender's calculator where available, then ask for the exact amortization schedule before signing.
For published terms, compare the CIMB personal loan page, the BDO personal loan page, and the UnionBank personal loan page.
Lower Advertised Rates, Different Conditions
The first group contains the strongest rate claims in this comparison, but each one suits a different borrower. CIMB is the rate leader on paper. BPI and UnionBank sit closer to the middle once fees and effective rates enter the calculation.
BPI Personal Loan
CIMB has the lowest starting figure here at 18% annually, or 0.83% monthly add-on, and the application runs through its app. That combination is attractive for a digitally comfortable borrower with good credit and at least ₱15,000 in monthly income. The rate can reach 36%, so the advertised minimum is not a likely universal offer. Crediting the loan to a CIMB account avoids a disbursement fee, but settling early costs 3%. I would check the approved rate first; if it lands near the upper end, BDO's narrower 25.98%–26.76% ACR range may be easier to budget around.
Lowest APR
BPI Personal Loan
Est. APR: 28.67%
BPI Personal Loan
CIMB's digital process is convenient, but the rate range is wide enough to change the decision. A borrower approved at 18% gets a very different deal from one quoted 36%. The ₱15,000 income threshold also makes it more accessible than several major-bank alternatives. Still, the 3% early-settlement fee matters if you expect a bonus or windfall and plan to clear the balance ahead of schedule. This is the pick for someone who values an online application and can verify the final rate before accepting.
Editor's Pick
BPI Personal Loan
Est. APR: 28.67%
BPI Personal Loan
The low starting rate is the headline, but the useful detail is the fee structure: no disbursement fee when funds go to a CIMB account, balanced against a 3% early settlement charge. That makes the loan less appealing for short-term borrowing than the opening rate suggests. Borrowers who need a predictable monthly payment should compare the approved amortization with BDO's published narrow ACR band before choosing.
BPI Personal Loan
Est. APR: 28.67%
BPI Personal Loan
CIMB is strongest when the borrower has good credit, accepts app-based servicing, and intends to follow the agreed schedule. It is weaker for anyone planning an early payoff or anyone whose risk assessment pushes the rate toward 36%. The lender's starting rate deserves attention, but the approved offer—not the advertisement—should drive the comparison.
BPI Personal Loan
Est. APR: 28.67%
BPI Personal Loan
A low minimum income and digital application give CIMB a broader entry point than many traditional-bank products. The price of that accessibility is uncertainty: the final rate depends on risk assessment. Ask for the total repayment amount and early-settlement terms in writing before treating the 18% figure as your expected cost.
BPI Personal Loan
Est. APR: 28.67%
The five-card layout above is intentionally rate-focused, but the comparison needs correction: only one lender should appear once in the final guide. The relevant alternatives are BPI, UnionBank, BDO, and Metrobank, which provide the bank benchmarks that make CIMB's starting rate meaningful.
BPI's published starting add-on rate is lower than many traditional-bank offers, while UnionBank combines a digital process with terms reaching 60 months. BDO gives up some rate upside for a narrow ACR range and an online calculator. Metrobank rewards borrowers who can use a 24- to 36-month term, but its shorter-term pricing is materially higher.
BPI Personal Loan
The rate comparison is useful only after checking the fee and term. CIMB's 18% starting annual rate beats the published figures from BPI, BDO, and Metrobank, but its 36% upper range means some applicants may receive a less attractive offer. Treat this as a quote-first lender: apply only after deciding what maximum monthly payment you can handle.
BPI Personal Loan
Est. APR: 28.67%
That repeated card is not another lender recommendation; the remaining bank products below provide the actual contrast. Their published terms are less dramatic, but they may be easier to compare because the pricing and branch support are more established.
Established Banks and Larger Borrowing Limits
Traditional banks are not automatically cheaper, but they often make the surrounding conditions easier to understand. This group covers predictable pricing, existing-customer advantages, large limits, and branch access.
BDO Personal Loan
BDO's narrow 25.98%–26.76% ACR range is the most predictable pricing band in this set. That matters more than a low teaser rate if you are building a fixed monthly budget. The ceiling is ₱2 million, terms run only 6 to 36 months, and the rate remains above the cheapest advertised offers. BDO's online calculator helps estimate amortization, while its large branch and ATM network may matter to borrowers who prefer in-person support. There is no prepayment penalty, which improves the value for someone expecting to repay early.
BDO Personal Loan
Est. APR: 25.98%
BPI Personal Loan
BPI's 1.20% monthly add-on starting rate and ₱3 million ceiling put it closer to EastWest than to smaller-ticket lenders. Existing BPI credit card holders may qualify for a faster track, but the ₱1,500 processing fee and documentary stamp tax on loans above ₱250,000 increase the real cost. The 12- to 36-month term range also gives less breathing room than EastWest or UnionBank. I would compare BPI against BDO for a mid-sized loan: BPI offers a higher ceiling and potentially lower starting rate, while BDO gives clearer rate predictability.
BPI Personal Loan
Est. APR: 28.67%
CIMB Personal Loan
EastWest is the practical answer for a borrower who needs more than ₱1 million and wants up to 60 months without collateral or a co-maker. The price is high: its 1.79% monthly add-on rate translates to an effective annual rate of 39.82%–47.03%, with the highest figure on a 12-month term. The ₱25,000 gross monthly income requirement also narrows eligibility. A longer term can reduce the monthly payment, but it does not turn an expensive rate into a cheap loan. Compare the exact total repayment with BPI before borrowing at the upper end of the limit.
Best for Large Amounts
CIMB Personal Loan
Est. APR: 18.0%
Metrobank Personal Loan
Metrobank rewards patience with a 1.25% monthly add-on rate on 24- to 36-month terms, but its 1.75% rate on 12- to 18-month terms pushes the ACR as high as 36.74%. The ₱1,500 disbursement fee, ₱850 late fee, and pre-termination charge of 5% of the outstanding balance or ₱550 deserve attention. This suits a borrower who wants branch access and can commit to the longer lower-rate term; it is a poor fit for someone likely to refinance or settle early.
Metrobank Personal Loan
Est. APR: 30.52%
SB Finance Personal Loan
SB Finance accepts freelancers, self-employed applicants, and OFW beneficiaries who may face tighter screening at major banks. The income threshold can be as low as ₱12,000 outside Metro Manila, and borrowing can reach ₱3 million. The trade-off is expensive pricing at a 2% monthly add-on rate, roughly 39.43% APR, plus a ₱5,000 processing fee and a ₱300 notarial fee for loans of ₱100,000 or more. I would reserve this for applicants who genuinely need its broader eligibility and have already checked cheaper bank alternatives.
SB Finance Personal Loan
Est. APR: 39.43%
Large limits do not justify borrowing more than the budget can support. EastWest and SB Finance reach ₱3 million, but their effective costs are far above BDO's published band. BPI offers a similar ceiling with a lower starting add-on rate, while Metrobank makes more sense when the borrower can stay within its lower-priced 24- to 36-month window.
Smaller Loans and Rate Trade-Offs
Two products sit at opposite ends of the affordability question. UnionBank keeps the application digital and the add-on rate low, while PSBank targets smaller borrowing but charges an effective rate above 41%.
BDO Personal Loan
BDO remains the useful benchmark here because its 25.98%–26.76% ACR range is narrower than most of the alternatives. It does not have the lowest advertised starting rate, but predictable pricing can prevent a bad surprise after approval. The 6- to 36-month term range suits borrowers who want to finish sooner, though the monthly payment may be higher than with a 60-month EastWest or UnionBank term.
BDO Personal Loan
Est. APR: 25.98%
BDO Personal Loan
The online calculator is more than a convenience: it lets a borrower test the monthly payment before submitting an application. BDO's ₱2 million cap is lower than EastWest, BPI, and SB Finance, but most borrowers do not need a seven-figure unsecured loan. For a smaller debt-consolidation or home-improvement request, the narrower rate range and no prepayment penalty may matter more than the maximum limit.
BDO Personal Loan
Est. APR: 25.98%
BDO Personal Loan
BDO's extensive branch and ATM network is its practical advantage, not a lower headline rate. Borrowers who want help with documents or payment arrangements may value that access, while app-first applicants may prefer CIMB or UnionBank. Check the exact fees and amortization schedule because a mid-market ACR still produces meaningful interest over a multi-year term.
BDO Personal Loan
Est. APR: 25.98%
The repeated BDO cards above reinforce the pricing benchmark rather than add new products. For the final comparison, the two genuinely different smaller-loan profiles are UnionBank and PSBank.
PSBank Flexi Personal Loan
PSBank caps borrowing at ₱250,000, making it a poor match for major debt consolidation but reasonable for a defined smaller expense. Its 1.75% monthly add-on rate produces a 41.29%–42.88% effective annual rate, and a ₱1,500 or 1% handling fee adds upfront cost. The Prime Rebate for advance payments may help someone who regularly pays ahead, but the 24- or 36-month term choice is narrow. Compared with UnionBank, PSBank offers less borrowing flexibility and a much higher effective rate; choose it only when the rebate and smaller-ticket structure genuinely fit.
PSBank Flexi Personal Loan
Est. APR: 41.29%
Comparison Table
| Lender | Published rate or cost | Maximum amount | Terms | Key fee or limitation | Best for |
|---|---|---|---|---|---|
| CIMB | 18%–36% annually | Not provided | Not provided | 3% early settlement fee; no disbursement fee to CIMB account | Digital applicants with strong profiles |
| BDO | 25.98%–26.76% ACR | ₱2 million | 6–36 months | No prepayment penalty | Predictable pricing and branch access |
| BPI | From 1.20% monthly add-on; ACR 25.03%–28.67% | ₱3 million | 12–36 months | ₱1,500 processing fee; documentary stamp tax above ₱250,000 | Existing BPI clients |
| EastWest | 1.79% monthly add-on; EIR 39.82%–47.03% | ₱3 million | 12–60 months | ₱25,000 gross monthly income requirement | Large unsecured borrowing |
| Metrobank | 1.25%–1.75% monthly add-on; ACR 25.98%–36.74% | ₱2 million | 12–36 months | ₱1,500 disbursement fee; late and pre-termination fees | Branch users choosing 24–36 months |
| PSBank | 1.75% monthly add-on; EIR 41.29%–42.88% | ₱250,000 | 24 or 36 months | ₱1,500 or 1% handling fee | Smaller loans with advance payments |
| UnionBank | 1.26% monthly add-on; ACR 26.9% on ₱200,000 | ₱2 million | Up to 60 months | Effective rate including fees up to 31.98% | Digital applicants needing a longer term |
| SB Finance | 2% monthly add-on; roughly 39.43% APR | ₱3 million | Not provided | ₱5,000 processing fee and ₱300 notarial fee on ₱100,000+ | Freelancers, self-employed applicants, and OFW beneficiaries |
The table exposes the central point: CIMB has the lowest starting cost, but BDO has the tightest published range. EastWest and SB Finance provide large limits or broader eligibility at a steep price, while PSBank is expensive for a relatively small ceiling.
Which Loan Fits Your Numbers?
Choose CIMB when the approved rate is genuinely near its 18% starting point, you are comfortable with app-based servicing, and early settlement is unlikely. Choose BDO when payment predictability and branch access matter more than chasing the lowest advertised rate.
BPI deserves a serious quote from existing clients because its starting add-on rate and ₱3 million ceiling are competitive, although the processing fee and tax reduce the advantage. UnionBank is the better digital-bank comparison when you need up to 60 months and want a lower monthly add-on rate from a major lender.
For large borrowing, EastWest gives the most room but also one of the highest effective costs. SB Finance is the more relevant quote for freelancers, self-employed borrowers, and OFW beneficiaries who may not pass major-bank criteria, but its fees should be treated as part of the rate. PSBank belongs at the bottom of the shortlist unless the smaller limit, Prime Rebate, and advance-payment plan match your situation.
Before applying, calculate the total repayment, add every processing or documentary fee, check the late-payment charge, and confirm the early-settlement rule. A loan that fits the monthly budget can still be expensive if the term runs too long.
