AUB vs Philippine Veterans Bank: Home Loan Overview
Asia United Bank (AUB) is a mid-sized universal bank with a growing retail lending portfolio. It competes actively for home loan business and offers fixed-rate periods of up to 5 years with relatively straightforward documentation requirements. Philippine Veterans Bank (PVB), on the other hand, was established specifically to serve Filipino veterans and their families. While it has expanded to serve the general public in recent years, its home loan product remains more niche in positioning and availability.
If you're currently paying 7% or higher on an existing home loan — whether with AUB, PVB, or any other lender — refinancing through Nook could unlock rates starting at 5.99% p.a., with zero broker fees to you.
Interest Rate Comparison
| Feature | AUB | Philippine Veterans Bank |
|---|---|---|
| Indicative Fixed Rate (1-year) | ~7.00% – 8.50% p.a. | ~7.50% – 9.00% p.a. |
| Indicative Fixed Rate (3-year) | ~7.50% – 9.00% p.a. | ~8.00% – 9.50% p.a. |
| Indicative Fixed Rate (5-year) | ~8.00% – 9.50% p.a. | ~8.50% – 10.00% p.a. |
| Variable Rate Option | Yes | Limited |
| Rate Lock Period | Up to 5 years | Up to 3 years (typical) |
Important note: Published bank rates change frequently and vary based on your loan amount, term, and credit profile. The figures above are indicative ranges based on publicly available information. Always get a formal loan offer before making decisions — or let Nook compare live offers from multiple banks on your behalf, for free.
For context on how other mid-tier banks stack up on rates, see our AUB vs CIMB home loan comparison, which covers another competitive alternative in this segment.
Monthly Payment Illustration
To make these rate differences concrete, here's what a 3,000,000 peso home loan over 20 years would cost at different interest rates:
| Interest Rate | Estimated Monthly Payment | Total Interest Paid |
|---|---|---|
| 5.99% p.a. (Nook best rate) | ~21,485 | ~2,156,400 |
| 7.50% p.a. (AUB mid-range) | ~24,058 | ~2,773,920 |
| 8.50% p.a. (PVB mid-range) | ~26,035 | ~3,248,400 |
| 10.00% p.a. (higher-end) | ~28,950 | ~3,948,000 |
On a 3,000,000-peso loan, the difference between paying 8.50% (a typical PVB mid-range rate) and 5.99% through Nook adds up to over 1,091,000 pesos in extra interest over 20 years. That's real money that stays in your pocket when you refinance at a better rate.
Fees and Charges
| Fee | AUB | Philippine Veterans Bank |
|---|---|---|
| Processing Fee | ~5,000 – 10,000 | ~5,000 – 8,000 |
| Appraisal Fee | ~3,500 – 6,000 | ~3,000 – 5,500 |
| Mortgage Registration Fee | Varies by loan amount | Varies by loan amount |
| MRI (Mortgage Redemption Insurance) | Required | Required |
| Fire Insurance | Required | Required |
| Early Repayment Penalty | Typically 2–3% within fixed period | Typically 2–3% within fixed period |
| Broker Fee (via Nook) | FREE | FREE |
Both banks charge comparable upfront fees. When refinancing, also factor in the redemption penalty on your existing loan, transfer costs, and new registration fees — Nook's advisors can help you calculate your true break-even point before committing.
Eligibility and Requirements
| Criteria | AUB | Philippine Veterans Bank |
|---|---|---|
| Primary Market | General public (employed, self-employed, OFW) | Veterans, beneficiaries, and general public |
| Minimum Age | 21 years old | 21 years old |
| Maximum Age at Loan Maturity | Typically 65–70 years old | Typically 65 years old |
| Minimum Income (employed) | ~40,000/month (varies) | ~30,000/month (varies) |
| OFW Borrowers | Accepted | Limited |
| Self-Employed Borrowers | Accepted (with 2 years ITR) | Accepted (case-to-case) |
| Minimum Loan Amount | ~1,000,000 | ~500,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 70–80% of appraised value |
| Loan Term | Up to 20 years | Up to 20 years |
Philippine Veterans Bank has a lower minimum income threshold, which may make it accessible to more borrowers on paper — but its more limited product range and generally higher rates mean it's rarely the optimal choice unless you have a specific relationship with the bank or veteran-related benefits.
Application Process
AUB has a moderately streamlined application process with online inquiry forms, though in-branch visits are typically required for document submission and verification. Processing times range from 2 to 4 weeks depending on completeness of documents and appraisal scheduling.
Philippine Veterans Bank operates through a smaller branch network, which can make the process slower and more manual. Borrowers outside Metro Manila may find limited branch access a challenge. Processing times can range from 3 to 6 weeks.
By contrast, applying through Nook means one application reaches multiple banks simultaneously. Nook handles the paperwork coordination, lender communication, and comparison — so you get competing offers without multiple branch visits or repeated document submissions.
Refinancing with AUB or Philippine Veterans Bank
If you're currently with either of these banks and paying a rate above 7%, you likely have meaningful savings available through refinancing. Here's a quick rule of thumb: if your current rate is more than 1.5 percentage points above the best available market rate, refinancing typically makes financial sense within 3–5 years even after accounting for switching costs.
Nook's advisors can run your specific numbers — loan balance, remaining term, current rate — and tell you exactly how much you'd save and how long the break-even takes. This service is completely free.
Curious how government-linked banks compare on refinancing? Check out our DBP vs UCPB home loan comparison for another angle on this market.
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Compare My Options →Frequently Asked Questions
Which is better for home loans: AUB or Philippine Veterans Bank?
For most borrowers, AUB offers more competitive rates, greater product flexibility, and a broader branch network. Philippine Veterans Bank has a specific mandate to serve veterans and their beneficiaries, and may be a better fit if you fall into that category and have an existing relationship with the bank. For the general public seeking the lowest possible rate, neither bank may be your best option — Nook can source rates as low as 5.99% p.a. from across the Philippine banking market, for free.
What are the current interest rates for AUB home loans?
AUB's home loan rates are indicatively in the range of 7.00% to 9.50% p.a. depending on the fixed-rate period and loan profile. Rates change regularly and are subject to your specific credit and income assessment. The best way to get an accurate current rate is to apply through Nook, which will get you a formal offer from AUB alongside competing offers from other banks — at no cost to you.
What are the current interest rates for Philippine Veterans Bank home loans?
Philippine Veterans Bank's home loan rates typically range from approximately 7.50% to 10.00% p.a. depending on the fixed-rate term, loan amount, and borrower profile. Veterans and their beneficiaries may have access to preferential terms. Rates should be confirmed directly with the bank or through a broker like Nook.
Can I refinance from Philippine Veterans Bank to AUB — or vice versa?
Yes, refinancing between these two banks is entirely possible. You would apply for a new home loan with the new bank, which uses the proceeds to pay off your existing loan. The key considerations are your current outstanding balance, any early repayment penalties on your existing loan, and the new interest rate and fees. Nook can help you model whether the switch makes financial sense and handle the process end-to-end.
How much can I save by refinancing my AUB or PVB home loan through Nook?
Savings depend on your outstanding balance, remaining term, and the gap between your current rate and the best available rate. As an example, on a 3,000,000-peso loan with 15 years remaining, moving from 8.50% to 5.99% p.a. could save you over 800,000 pesos in total interest. Use Nook's free refinancing calculator or speak with a Nook advisor to get a personalized savings estimate.
Is Nook's service really free? How does it work?
Yes, Nook's mortgage brokering service is 100% free to borrowers. Nook earns a referral fee from the bank when a loan is successfully disbursed — similar to how insurance brokers operate. This means you get expert advice, access to multiple lenders, and full application support at zero cost. There are no hidden charges added to your loan rate either.
Does Philippine Veterans Bank offer home loans to non-veterans?
Yes, Philippine Veterans Bank has expanded its lending to the general public and does not restrict home loans exclusively to veterans. However, its branch network is smaller than most universal banks, and its rates and product terms may be less competitive for borrowers without veteran-related affiliations. It's worth comparing PVB against other options before committing.
What documents do I need to refinance a home loan in the Philippines?
Standard refinancing documents typically include: valid government-issued IDs, proof of income (payslips, ITR, or audited financial statements for the self-employed), your existing loan statement of account, the Transfer Certificate of Title (TCT) of the property, tax declaration and real property tax receipts, and a copy of your current loan billing statement. Nook's advisors will give you a complete, lender-specific checklist and help you organize your documents efficiently.