Asia United Bank vs Philippine Veterans Bank: Home Loan Overview
Asia United Bank (AUB) is a publicly listed universal bank in the Philippines known for its digital-forward approach and business banking roots. While it offers home loans, its mortgage products are less prominently marketed compared to larger retail banks. Philippine Veterans Bank (PVB), on the other hand, was established specifically to serve Filipino veterans and their families, but today it operates as a full-service commercial bank open to all qualified borrowers — including civilians looking for a straightforward home loan.
If you are considering either lender for a home purchase or thinking about refinancing your existing mortgage, it is worth understanding how their products stack up before committing. And if neither fully meets your needs, see how Asia United Bank also compares against newer digital lenders to get a fuller picture of your options.
Interest Rates Compared
Interest rates are the single biggest factor in your total loan cost over a 15- to 25-year term. Here is how Asia United Bank and Philippine Veterans Bank generally compare:
| Feature | Asia United Bank | Philippine Veterans Bank |
|---|---|---|
| Indicative Fixed Rate (1-year) | ~7.50% – 8.50% p.a. | ~7.25% – 8.25% p.a. |
| Indicative Fixed Rate (3-year) | ~8.00% – 9.00% p.a. | ~7.75% – 8.75% p.a. |
| Indicative Fixed Rate (5-year) | ~8.50% – 9.50% p.a. | ~8.00% – 9.00% p.a. |
| Best Rate via Nook | From 5.99% p.a. | |
Note: Rates shown are indicative ranges based on publicly available information and may vary based on your loan amount, term, and credit profile. Always request a formal loan offer for exact figures.
To put this in concrete terms: on a loan of 4,000,000 over 20 years, the difference between paying 8.50% and 5.99% is enormous.
- At 8.50% p.a. — monthly repayment: approximately 34,728
- At 5.99% p.a. — monthly repayment: approximately 28,618
- Monthly savings: approximately 6,110
- Total savings over 20 years: approximately 1,466,400
That is over 1,400,000 pesos in your pocket — just from securing a better rate.
Loan Terms and Eligibility
| Feature | Asia United Bank | Philippine Veterans Bank |
|---|---|---|
| Minimum Loan Amount | ~500,000 | ~500,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 80% of appraised value |
| Loan Term | Up to 20 years | Up to 20 years |
| Eligible Borrowers | Filipino citizens, employed or self-employed | Filipino citizens including veterans and civilians |
| Minimum Age | 21 years old | 21 years old |
| Maximum Age at Loan Maturity | Typically 65–70 years old | Typically 65–70 years old |
Both banks follow standard Philippine home loan eligibility guidelines set by Bangko Sentral ng Pilipinas (BSP). Neither has a dramatically different eligibility threshold, which means your rate and approval terms will depend heavily on your income documents, credit history, and the property you are financing.
Fees and Charges
Beyond the interest rate, home loans come with a range of upfront and ongoing fees that can add significantly to your total borrowing cost. Here is a general comparison:
| Fee Type | Asia United Bank | Philippine Veterans Bank |
|---|---|---|
| Processing Fee | ~5,000 – 10,000 (varies) | ~5,000 – 10,000 (varies) |
| Appraisal Fee | Charged separately, typically 3,500 – 6,000 | Charged separately, typically 3,500 – 6,000 |
| Annual MRI (Mortgage Redemption Insurance) | Bundled or separate depending on offer | Bundled or separate depending on offer |
| Fire Insurance | Required annually | Required annually |
| Prepayment Penalty | Typically applies within fixed-rate period | Typically applies within fixed-rate period |
| Documentary Stamp Tax | Paid by borrower (standard) | Paid by borrower (standard) |
Both lenders are broadly similar in fee structure, which is typical of Philippine commercial banks. The key differentiator remains the interest rate itself. For context on how other mid-tier banks compare on fees, you may also want to see how CIMB and PBCOM stack up on home loan costs.
Application Process and Turnaround
Asia United Bank has invested in digital banking infrastructure, which can make the initial inquiry process faster. However, for home loan applications specifically, both AUB and PVB require in-person document submission, property appraisal, and manual credit evaluation — meaning neither offers a truly end-to-end digital mortgage experience.
Typical processing timelines for both banks run from 2 to 6 weeks, depending on document completeness and property title status. Common causes of delay include incomplete income documentation, unresolved title issues, and slow appraisal scheduling.
When you apply through Nook, a dedicated mortgage specialist handles the entire process on your behalf — including comparing offers from multiple banks simultaneously — at zero cost to you.
Who Should Choose Asia United Bank?
- Borrowers who already bank with AUB and want the convenience of a single banking relationship
- Self-employed individuals who prefer a mid-sized bank with more flexible document assessment
- Those financing properties in areas where AUB has a strong branch presence
Who Should Choose Philippine Veterans Bank?
- Veterans and their families who may be entitled to special programs or priority processing
- Borrowers looking for a government-backed bank with a long institutional track record
- Those who value a conservative, straightforward loan product without complex product bundling
Why Most Borrowers Should Consider Refinancing Through Nook Instead
If you already have a home loan with either AUB or PVB — or any other Philippine bank — and your interest rate is above 6.50%, there is a strong chance you could save significantly by refinancing. Nook is the Philippines' first digital mortgage broker, and we help homeowners refinance at rates starting from 5.99% p.a. Our service is completely free to borrowers.
Here is what refinancing through Nook looks like for a typical borrower:
- Loan balance: 3,500,000
- Current rate: 8.25% p.a.
- Refinanced rate via Nook: 5.99% p.a.
- Current monthly repayment (20-year term): approximately 30,233
- New monthly repayment: approximately 25,041
- Monthly saving: approximately 5,192
- Annual saving: approximately 62,304
Over the remaining life of the loan, savings like these can easily exceed 1,000,000 pesos. Nook compares offers from BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, PSBank, EastWest Bank, and more — so you always get the most competitive deal available to you.
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Compare My Options →Frequently Asked Questions
Is Asia United Bank or Philippine Veterans Bank better for a home loan?
Both are legitimate and regulated Philippine commercial banks, but Philippine Veterans Bank generally offers slightly more competitive indicative rates and has a stronger retail mortgage track record. That said, neither may offer the lowest rate available to you. Refinancing through Nook gives you access to rates from 5.99% p.a. across multiple lenders simultaneously, which is typically better than what either bank offers directly.
Can non-veterans apply for a Philippine Veterans Bank home loan?
Yes. Despite its name and origins, Philippine Veterans Bank is a full-service commercial bank open to all eligible Filipino borrowers, not just veterans and their families. Any qualified applicant can apply for a PVB home loan on standard terms.
What documents do I need to apply for a home loan at either bank?
Standard requirements for both Asia United Bank and Philippine Veterans Bank home loans include: government-issued ID, proof of income (payslips or ITR for employed borrowers, audited financial statements for self-employed), proof of billing address, collateral documents (Transfer Certificate of Title, tax declaration, lot plan), and a filled-out application form. Additional documents may be requested depending on your profile.
How much can I borrow from Asia United Bank or Philippine Veterans Bank?
Both banks typically lend up to 80% of the appraised value of the property, subject to your income qualification. Minimum loan amounts generally start at around 500,000 pesos. The maximum loan amount will depend on your gross monthly income, existing obligations, and the bank's internal credit policies.
What is the current best home loan refinance rate in the Philippines?
The best refinance rate currently available through Nook is 5.99% p.a. Most Filipino homeowners are paying between 7% and 10%, meaning many are significantly overpaying. If your current rate is above 6.50%, it is worth getting a free refinance assessment through Nook to see how much you could save.
How does Nook's mortgage brokering service work, and what does it cost?
Nook is the Philippines' first digital mortgage broker. You share your loan details once, and Nook compares offers from multiple banks on your behalf to find the lowest available rate. The service is 100% free to borrowers — Nook is compensated by the banks, not by you. There are no hidden fees, no obligations, and no pressure to accept any offer.
Can I refinance a loan currently with Asia United Bank or Philippine Veterans Bank?
Yes. If you have an existing home loan with either AUB or PVB, you can refinance it through Nook to a lower rate with a different lender. Refinancing makes most financial sense when your remaining loan term is still substantial (10 or more years) and when you can reduce your rate by at least 1 to 1.5 percentage points, which more than covers the typical refinancing costs.