1. What is the EMI Formula?

The EMI (Equated Monthly Installment) formula calculates the fixed monthly payment amount for a BDO Kabayan personal loan, which includes both principal and interest components.

2. How Does the Calculator Work?

The calculator uses the EMI formula:

Where:

• \( P \) — Principal loan amount (PHP)
• \( r \) — Monthly interest rate (annual rate ÷ 12 ÷ 100)
• \( n \) — Loan tenure in months

Explanation: The formula calculates the fixed monthly payment that pays off the loan principal and interest over the specified tenure.

3. Importance of EMI Calculation

Details: Accurate EMI calculation helps borrowers understand their monthly repayment obligations and plan their finances accordingly for BDO Kabayan personal loans.

4. Using the Calculator

Tips: Enter the principal amount in PHP, annual interest rate in percentage, and loan tenure in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the BDO Kabayan Personal Loan?
A: BDO Kabayan Personal Loan is a loan product designed for overseas Filipinos and their beneficiaries in the Philippines.

Q2: What factors affect the EMI amount?
A: The EMI amount is determined by the principal amount, interest rate, and loan tenure. Higher principal or interest rates increase EMI, while longer tenures reduce it.

Q3: Are there any additional charges?
A: BDO may charge processing fees, insurance, or other charges. Consult with BDO for complete details on all applicable charges.

Q4: Can I prepay my loan?
A: Prepayment options and charges vary. Check with BDO for their specific prepayment policies and any associated fees.

Q5: How accurate is this calculator?
A: This calculator provides an estimate. Actual EMI may vary based on BDO's specific terms, conditions, and any additional charges.