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S.I.P. for School
Easy on the pocket payments for all school needs.
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Benefits
Fixed monthly installments

Pay for your school expenses in fixed monthly installments.

Low add-on rate

Get as low as 0.75% monthly add on rate for 24 months.

Fast Processing

Have your application processed in as fast as 5 banking days.

Use 100% of your available limit

Avail up to 100% of your credit limit.

Rates

Term

Monthly
AOR

Factor Rate

EIR PA

3

1.00%

0.343333

17.91%

6

1.00%

0.176667

20.29%

9

1.00%

0.121111

21.11%

12

0.75%

0.090833

16.22%

18

0.75%

0.063056

16.42%

24

0.75%

0.049167

16.43%


Notes:

  • Effective Interest Rate (P.A) of 21.01% on 36-month term.
  • A service fee of Php 300 will be charged for each S.I.P. Loan Availment. This fee will be reflected in the succeeding statement of account.
  • Rates are effective November 3, 2020 until further notice in compliance with BSP Circular 1098.


Sample Interest Computation for S.I.P. for School


Loan Amount: Php 20,000.00                         
Term: 12 months    
Add-on Rate (per month): 1.00%    
Effective Interest Rate (per month): 1.79%    
Factor Rate: 0.037678    
Monthly Amortization: Php 1,866.67     
Total Interest: Php 2,400


MonthS.I.P. Loan Monthly Amortization  Interest Principal PaymentsOutstanding Principal Balance
0     20,000
00       20,000.00
1
         1,866.67357.62       1,509.05       18,490.95
2
         1,866.67330.64       1,536.03       16,954.92
3
         1,866.67303.17       1,563.50       15,391.43
4
         1,866.67275.21       1,591.45       13,799.97
5
         1,866.67246.76       1,619.91       12,180.06
6
         1,866.67217.79       1,648.88       10,531.19
7
         1,866.67188.31       1,678.36         8,852.83
8
         1,866.67158.3       1,708.37         7,144.46
9
         1,866.67127.75       1,738.92         5,405.55
10
         1,866.6796.66       1,770.01         3,635.53
11
         1,866.6765.01       1,801.66         1,833.88
12
         1,866.6732.79       1,833.88                0.00


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