GCredit fees and interest rates
GCredit interest ranges from 5% to 7%, based on how active you are on GCash. The more you use GCash, the lower your rate can be.
GCredit interest charges
Interest starts the day after you use GCredit and is based on how many days you borrow the amount.
Note:
If you pay your GCredit dues on the same day as the transaction, no interest will be charged.
How to calculate GCredit interest
Here’s an example of how your GCredit interest is computed:
- Transaction date: October 1
- Amount borrowed: PHP 1,000
- Monthly interest rate: 5%
- Payment date: October 10
Interest calculation:
- Number of days borrowed: 9 days (October 2–10)
- Daily interest rate: 5% ÷ 30 days = 0.17% per day
Total interest: PHP 1,000 × 0.17% × 9 days = PHP 15
Total outstanding balance: PHP 1,000 (principal) + PHP 15 (interest) = PHP 1,015