Call 0966 827 3678 Mon - Fri 9:00am - 8:00pm

You have successfully logged out

We will send you an email with instructions to reset your password

Personal Loan Glossary

Amortization is the method of paying back a personal loan through regular instalment payments. It is advised to have a good payment history with your monthly amortization so you can use this to build a good credit history.
Amortization Period
This is the time period that the lendee is required to pay off the total loaned amount.
This is the person who has borrowed from the bank or lender in order to fulfill his immediate monetary needs.
Fixed Rate Loan
Some banks offer a fixed rate loan instead of increasing the loan amount as the loan tenor gets older.
This is a person who is a co-signor of the lendee and commits to pay off the debt of the lendee in case he loses the capacity to do so.
This is additional charge from the bank on the borrowed amount that you got from them. This is the assurance that that you will pay them back granted that they already gave you a big amount that they need to get back from you with additional profit.
Late Payment Fees
This are the charges incurred when you pay your amortization past the due date mutually agreed by you and the lender
The institution that lends the money to the borrower with a fixed period and amortization in order for them to achieve their goals.
Lending Companies
Lending companies are tools that you can use in order to get in good debt. They are regulated by the Bangko Sentral ng Pilipinas and comply to the same set of rules set by the Securities and Exchange Commission.
These are the payables under your names that may affect your personal loan application.
Maximum Loan Amount
The maximum loan amount is the maximum amount that you can borrow at a financial institution based on your loan tenor, income, and credit history.
The principal is the co-maker of the loan and responsible for paying the personal loan in case the borrower runs away from his responsibility of paying it himself.
This is the duration of the personal loan on when it needs to get paid. You need to determine if you can get an amortization of 30% per month as mandated by the Philippine Banking Law.

Compare and apply in 3 easy steps

Why choose

Quick & Easy
100% free!
Impartial & Independent is your one-stop shop for comparing credit cards, loans, insurances and broadband plans. Use our powerful comparison tool to get unbiased, up-to-date information and the best deals.

Testimonial person made searching for my car insurance a breeze! They got me the best possible deal in the shortest time possible. No need for long calls conversations with different agents, no wasting time. It's been my go-to ever since I learned about it.
Sam Y.G., Quezon City, Philippines

Free money saving tips

Stay up-to-date with the latest financial news and the best money saving tips by subscribing to our newsletter.

Latest news

Stay up to date on the latest news about financial products and market comparison View all news