Which calculator mode should you use?
If your disclosure statement lists every repayment, use the total-repayment mode. It relies on known peso cash flows and avoids guessing how a headline rate is applied. Use the rate mode only when you need to understand two possible methods; then replace the illustration with the provider’s actual schedule.
Worked total-repayment example
A stated amount of ₱5,000 minus a ₱200 deduction gives ₱4,800 net proceeds. If scheduled repayments total ₱5,500 and there are no separate fees, the cost difference is ₱700. The deduction is already reflected in the lower cash received: do not add it twice.
Worked monthly-rate example
For a fictional ₱5,000 principal over three months at 2% per month, flat/add-on interest produces ₱5,300 in scheduled repayments. A fixed equal-payment reducing-balance illustration produces about ₱5,201.32 after centavo rounding. With a ₱200 upfront deduction and no separate fee, the corresponding costs above ₱4,800 net proceeds are ₱500 and about ₱401.32.
The difference does not prove that one real offer is cheaper. A provider may use different timing, fees, daily calculations or rounding. The BSP loan calculator explains EIR and the creditor inputs needed. HiramGuide does not calculate EIR or test legal compliance.