AUB vs Bank of Commerce: Home Loan Overview
Asia United Bank (AUB) and Bank of Commerce are both licensed Philippine universal banks offering home loan products, but they cater to somewhat different borrower profiles. AUB has positioned itself as a more digitally forward institution with streamlined application processes, while Bank of Commerce — majority-owned by San Miguel Corporation — draws strength from its extensive branch network and corporate relationships. Below, we compare the two across the factors that matter most to Filipino homebuyers and refinancers.
Interest Rates
| Feature | AUB | Bank of Commerce |
|---|---|---|
| Indicative Fixed Rate (1-year) | ~7.50% p.a. | ~7.75% p.a. |
| Indicative Fixed Rate (3-year) | ~7.75% p.a. | ~8.00% p.a. |
| Indicative Fixed Rate (5-year) | ~8.00% p.a. | ~8.25% p.a. |
| Variable Rate (after fixed period) | Based on prevailing board rate | Based on prevailing board rate |
| Best Refinance Rate via Nook | 5.99% p.a. | |
Important note: Published bank rates change frequently and vary based on loan amount, term, and borrower profile. The figures above are indicative. Nook's partner lenders are actively competing for your loan, which is why refinancing through Nook can unlock rates well below what either bank advertises directly.
How Much Could You Actually Save?
Let's put real numbers behind the rate difference. Suppose you have an outstanding home loan balance of 3,500,000 pesos with 20 years remaining.
| Scenario | Rate | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| Current loan (typical) | 8.50% p.a. | ~30,413 | ~7,299,120 |
| Refinance via AUB | ~7.50% p.a. | ~28,116 | ~6,747,840 |
| Refinance via Bank of Commerce | ~7.75% p.a. | ~28,586 | ~6,860,640 |
| Refinance via Nook (best rate) | 5.99% p.a. | ~25,088 | ~6,021,120 |
Refinancing to 5.99% through Nook could save you over 1,278,000 pesos in total interest compared to staying at 8.50% — and over 700,000 pesos compared to refinancing with AUB at their typical rate. Nook's service is 100% free to borrowers.
Loan Terms & Eligibility
| Feature | AUB | Bank of Commerce |
|---|---|---|
| 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 & permanent residents | Filipino citizens & permanent residents |
| Minimum Age | 21 years old | 21 years old |
| Maximum Age at Loan Maturity | 65 years old | 65 years old |
Fees & Charges
| Fee | AUB | Bank of Commerce |
|---|---|---|
| Processing Fee | ~5,000 – 10,000 (varies) | ~5,000 – 10,000 (varies) |
| Appraisal Fee | Charged to borrower | Charged to borrower |
| Documentary Stamp Tax | Charged to borrower | Charged to borrower |
| Notarial Fees | Charged to borrower | Charged to borrower |
| Prepayment Penalty | Typically applies within fixed period | Typically applies within fixed period |
| Broker/Agent Fee (via Nook) | Zero — Nook is free for borrowers | |
One important consideration when comparing banks directly: going to each bank individually means spending time, documents, and energy with no guarantee of approval or the best rate. Nook submits your application to multiple competing lenders simultaneously, maximizing your chances and minimizing your effort — at no cost to you.
Application Process
| Feature | AUB | Bank of Commerce |
|---|---|---|
| Online Application | Yes — digital-first process | Partial — branch visit often required |
| Dedicated Relationship Manager | Available | Yes, branch-based |
| Typical Processing Time | 2–4 weeks | 3–5 weeks |
| Document Requirements | Standard BSP-required docs | Standard BSP-required docs |
AUB's digital orientation gives it a practical edge for borrowers who want to avoid multiple branch visits. However, if you value face-to-face guidance and your employer or business banks with Bank of Commerce, their relationship approach may work in your favor for credit assessment.
If you're also comparing AUB against other digital-leaning lenders, our AUB vs CIMB home loan comparison explores how AUB stacks up against another challenger bank on rates and process.
Refinancing: Is It Worth Switching?
If your home loan is currently with either AUB or Bank of Commerce — or any other Philippine bank — the most important question isn't which of these two banks is better. It's whether you're paying more than you need to.
Most Filipino homeowners are still paying rates between 7% and 10% on loans that were locked in years ago. Refinancing through Nook gives you access to today's most competitive rates from multiple lenders at once, starting at 5.99% p.a. The process is entirely free for you as the borrower.
For broader context on how government-backed and commercial banks compare on refinancing, see our DBP vs UCPB home loan rates comparison.
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Compare My Options →Frequently Asked Questions
Which has lower home loan rates — AUB or Bank of Commerce?
AUB generally offers slightly lower indicative rates than Bank of Commerce, particularly on 1-year and 3-year fixed-rate periods. However, both banks typically offer rates in the 7.50%–8.25% range, which means most borrowers can access significantly better rates — as low as 5.99% p.a. — by refinancing through Nook, where multiple lenders compete for your loan.
Can I refinance my AUB home loan to Bank of Commerce, or vice versa?
Yes. You can refinance from any bank to another, including from AUB to Bank of Commerce or the other way around. However, before doing so, it's worth checking prepayment penalties on your existing loan and comparing all available refinance options — not just these two. Nook can show you rates from multiple lenders at once, free of charge, so you don't have to apply to each bank separately.
How long does it take to get approved for a home loan at AUB vs Bank of Commerce?
AUB typically processes home loan applications in 2 to 4 weeks thanks to its more digital-forward approach. Bank of Commerce may take 3 to 5 weeks, particularly if a branch visit or additional document verification is needed. Processing times can also vary depending on how complete your submitted documents are and the current volume of applications the bank is handling.
What documents do I need to apply for a home loan at AUB or Bank of Commerce?
Both banks require standard BSP-mandated documents: a valid government-issued ID, proof of income (payslips, ITR, or audited financial statements for self-employed applicants), proof of billing, and property documents including the Transfer Certificate of Title (TCT) and tax declaration. AUB may allow more documents to be submitted digitally, while Bank of Commerce may require originals or certified true copies submitted in person.
Is it true that Nook's refinancing service is free?
Yes, completely. Nook is a digital mortgage broker, meaning lenders pay Nook a referral fee when a loan is funded — not you. As a borrower, you pay zero fees to Nook. You get access to multiple competing lenders, professional guidance, and potentially a much lower interest rate at no cost whatsoever.
What is the maximum home loan amount I can get from AUB or Bank of Commerce?
Both AUB and Bank of Commerce typically lend up to 80% of the appraised value of the property. The actual amount you qualify for depends on your income, credit history, and the bank's internal credit assessment. Loan amounts can range from around 500,000 pesos up to tens of millions for high-value properties, subject to approval.
What is the best home loan rate available in the Philippines right now?
Through Nook, the best refinance rate currently available is 5.99% per annum. This is significantly lower than the 7%–10% rates most Filipino homeowners are currently paying. By refinancing at 5.99% on a 3,500,000 peso loan over 20 years, you could save over 1,278,000 pesos in total interest compared to staying at an 8.50% rate.