Bank of Commerce vs Metrobank: Home Loan Overview
Both Bank of Commerce and Metrobank are Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions offering home loan products to Filipino borrowers. However, they differ significantly in scale, product range, and market presence.
Bank of Commerce is a mid-sized universal bank that offers home loan products, but it has a more limited branch network and less publicly available rate information compared to the major banks. Prospective borrowers should contact Bank of Commerce directly to confirm current rates and eligibility requirements, as these are subject to change.
Metrobank is one of the Philippines' largest banks and a well-known home loan provider with a broad branch and ATM network nationwide. Metrobank's home loan products are widely discussed and compared — you can see how it stacks up against other lenders in our BDO vs Metrobank home loan comparison.
Important: All rates shown below are approximate, based on publicly available information, and are subject to change without notice. Always verify current rates directly with the respective bank before making any financial decision.
Interest Rate Comparison
| Feature | Bank of Commerce | Metrobank | Nook (Best Available) |
|---|---|---|---|
| Indicative Fixed Rate (1-year) | ~7.50%–9.00% p.a.* | ~7.00%–8.50% p.a.* | 5.99% p.a. |
| Indicative Fixed Rate (3-year) | ~8.00%–9.50% p.a.* | ~7.50%–9.00% p.a.* | From 5.99% p.a. |
| Indicative Fixed Rate (5-year) | ~8.50%–10.00% p.a.* | ~8.00%–9.50% p.a.* | From 5.99% p.a. |
| Rate Type | Fixed then variable | Fixed then variable | Fixed (multiple terms) |
*Approximate rates based on publicly available information. Actual rates will vary based on your loan amount, term, property type, and creditworthiness. Contact the bank directly for a formal quote.
To put the rate difference in perspective: on a loan of 3,000,000 over 20 years, the difference between a 8.50% rate and a 5.99% rate is roughly 4,200 per month in savings — that's over 50,000 per year staying in your pocket.
Monthly Repayment Comparison (Sample Calculation)
The table below illustrates estimated monthly repayments for a 3,000,000 home loan over a 20-year term at different indicative rates. These are for illustration purposes only.
| Loan Amount | At 8.50% p.a. | At 7.50% p.a. | At 5.99% p.a. (Nook) |
|---|---|---|---|
| 1,500,000 | ~13,050 | ~12,080 | ~10,740 |
| 3,000,000 | ~26,100 | ~24,160 | ~21,480 |
| 5,000,000 | ~43,500 | ~40,270 | ~35,800 |
All figures are estimates rounded to the nearest 10 pesos. Actual repayments will depend on your specific loan terms, fees, and the bank's current applicable rate.
Fees and Charges
| Fee Type | Bank of Commerce | Metrobank |
|---|---|---|
| Processing Fee | Varies — confirm directly | Typically 0.50%–1.00% of loan amount |
| Appraisal Fee | Charged separately | Charged separately |
| Early Settlement Fee | Typically applies within fixed period | Typically applies within fixed period |
| Miscellaneous / Documentary Fees | Applicable | Applicable |
Fees can add a meaningful cost to your total loan, particularly if you plan to refinance or sell the property before the fixed period ends. Always request a full loan cost breakdown — including all fees — from the bank before signing.
Nook's service is 100% free to borrowers. Nook earns from its bank partners, not from you, so there's no cost to getting a comparison or applying through Nook.
Loan Terms and Eligibility
| Feature | Bank of Commerce | Metrobank |
|---|---|---|
| Maximum Loan Term | Up to 20 years (confirm directly) | Up to 20–25 years |
| Minimum Loan Amount | Confirm directly with bank | Typically 500,000 |
| Maximum LTV Ratio | Up to 70%–80% (confirm directly) | Up to 80% of appraised value |
| OFW / Non-Resident Eligibility | Confirm directly | Available for OFWs with conditions |
| Employed / Self-Employed | Both eligible (conditions apply) | Both eligible (conditions apply) |
Branch Network and Accessibility
Metrobank has a significantly larger branch and ATM network across the Philippines compared to Bank of Commerce, making it more accessible for most borrowers — especially those outside Metro Manila. Metrobank also has a more established digital banking platform.
Bank of Commerce has a more concentrated presence in urban areas. If accessibility and in-person service are important to you, Metrobank has a clear advantage here.
That said, if you're refinancing an existing home loan, physical branch proximity matters less — much of the process can be handled remotely or through a broker like Nook.
Should You Refinance Away From Either Bank?
If you're currently paying a home loan rate above 6.50% with either Bank of Commerce or Metrobank, refinancing is worth exploring. The potential monthly savings — especially on loans of 2,000,000 or more — can be substantial over the remaining life of your loan.
Nook works with multiple Philippine banks to find you the lowest available refinance rate, currently as low as 5.99% p.a. The service is completely free for borrowers, and Nook's team handles the paperwork and bank negotiations on your behalf.
Curious how Metrobank stacks up against other lenders beyond Bank of Commerce? See our Metrobank vs PSBank comparison for another side-by-side breakdown.
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Compare My Options →Frequently Asked Questions
What are Bank of Commerce's current home loan interest rates?
Bank of Commerce's home loan rates are not always publicly published in detail. Based on available information, indicative rates generally fall in the range of 7.50%–10.00% p.a. depending on the fixed rate period, loan amount, and borrower profile. These rates are approximate and subject to change — contact Bank of Commerce directly for a formal quote and current rates.
What are Metrobank's current home loan interest rates?
Metrobank's indicative home loan rates typically range from 7.00%–9.50% p.a. depending on the fixing period (1, 3, or 5 years) and borrower profile. Rates are subject to change and you should verify directly with Metrobank or through Nook to get the most current rates available to you.
Which is better: Bank of Commerce or Metrobank for a home loan?
For most borrowers, Metrobank is the stronger choice between the two — it has a larger branch network, more established home loan products, and more competitive publicly available rates. However, the best option for your situation depends on your loan amount, income type, and property location. We recommend comparing both alongside other lenders through a free service like Nook to ensure you're getting the most competitive rate available.
Can I refinance my Bank of Commerce or Metrobank home loan through Nook?
Yes. If you have an existing home loan with either Bank of Commerce or Metrobank, Nook can help you explore refinancing to a lower rate. Nook compares offers from multiple Philippine banks and finds the best available rate for your profile — currently as low as 5.99% p.a. The service is 100% free for borrowers.
How much can I save by refinancing from 8.50% to 5.99%?
On a 3,000,000 loan with 15 years remaining, refinancing from 8.50% to 5.99% p.a. could save you approximately 4,000–4,500 per month, or around 48,000–54,000 per year. Over the remaining loan term, total interest savings could exceed 700,000. Use Nook's free refinance calculator to estimate your specific savings.
Is Nook's mortgage broker service really free?
Yes, Nook's service is completely free for borrowers. Nook earns a referral fee from its bank partners when a loan is successfully placed — similar to how a real estate broker works. You pay nothing to use Nook, and the rate you receive is the same as (or better than) going directly to the bank.
What documents do I need to refinance my home loan in the Philippines?
Typical requirements for a home loan refinance in the Philippines include: valid government-issued ID, Certificate of Employment and Income (for employed borrowers) or ITR and financial statements (for self-employed), your existing loan statement of account, Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), and tax declaration and real property tax receipts. Nook's team will guide you through the exact requirements for your chosen bank.