Bank of Commerce vs PBCOM: Home Loan Overview
Bank of Commerce (BankCom) is a mid-sized universal bank with a focus on retail and SME clients, while Philippine Business Bank Commercial Bank (PBCOM) has historically catered to business owners and professionals. Both offer home loan products, but neither commands the same scale or rate competitiveness as the largest Philippine banks. That said, understanding their individual offerings is essential if you hold a loan with either — or are considering one.
If you are already comparing smaller lenders, you may also want to read our Bank of Commerce vs GoTyme home loan comparison for additional context on how BankCom stacks up against newer digital players.
Interest Rates
| Feature | Bank of Commerce | PBCOM |
|---|---|---|
| Indicative Rate Range | 7.50% – 10.00% p.a. | 7.25% – 9.75% p.a. |
| Rate Type | Fixed for initial period, then repriced | Fixed for initial period, then repriced |
| Fixing Periods Available | 1, 2, 3, 5 years | 1, 2, 3, 5 years |
| Best Available Through Nook | 5.99% p.a. | |
Both banks reprice their loans after the fixed period expires, which means your monthly repayment can increase substantially after year one or year three. This is one of the most common reasons Filipino homeowners refinance — and why locking in a lower rate early through a broker like Nook makes financial sense.
Sample Monthly Repayment Comparison
The table below illustrates estimated monthly repayments on a 20-year loan of 3,000,000 at various rates. All figures are approximate and for illustration purposes only.
| Interest Rate | Monthly Repayment (approx.) | Total Interest Over 20 Years (approx.) |
|---|---|---|
| 5.99% p.a. (Nook best rate) | 21,480 | 2,155,200 |
| 7.50% p.a. (BankCom indicative low) | 24,170 | 2,800,800 |
| 9.00% p.a. (PBCOM indicative mid) | 26,990 | 3,477,600 |
| 10.00% p.a. (BankCom indicative high) | 28,950 | 3,948,000 |
On a 3,000,000 loan, moving from 9.00% down to 5.99% saves approximately 1,322,400 in total interest over 20 years — that is over 1.3 million pesos in savings from a single refinance decision.
Fees and Charges
| Fee | Bank of Commerce | PBCOM |
|---|---|---|
| Processing Fee | Approximately 5,000 – 10,000 (varies) | Approximately 5,000 – 10,000 (varies) |
| Appraisal Fee | Charged separately, typically 3,500 – 6,000 | Charged separately, typically 3,500 – 6,000 |
| Early Repayment Penalty | Applies within fixed period (typically 2–5%) | Applies within fixed period (typically 2–5%) |
| Miscellaneous / Documentary Fees | Variable | Variable |
| Nook Broker Fee | Free — Nook charges nothing to the borrower | |
Both banks charge early repayment fees if you settle or refinance during the fixed rate period. Always check your existing loan documents to understand whether a penalty applies before proceeding with any refinance.
Loan Terms and Eligibility
| Criteria | Bank of Commerce | PBCOM |
|---|---|---|
| Minimum Loan Amount | 500,000 | 500,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 80% of appraised value |
| Loan Tenure | Up to 20 years | Up to 20 years |
| Eligible Borrowers | Filipino citizens, resident aliens | Filipino citizens, resident aliens |
| Property Types | Residential house and lot, condominium | Residential house and lot, condominium |
| OFW Borrowers | Accepted with conditions | Accepted with conditions |
Application Process
Bank of Commerce requires in-branch application for most borrowers, with loan officers handling document collection and assessment. Processing times are typically 2–4 weeks from complete submission.
PBCOM similarly relies on branch-based processing, with a loan evaluation team reviewing income documents, property appraisal reports, and credit history. Turnaround is comparable at 2–4 weeks.
In contrast, Nook operates entirely digitally. You submit one application, and Nook works across its panel of lenders to find the best available rate — no need to visit multiple branches or prepare separate document packs for each bank. For a closer look at how other challenger lenders compare on process and rate, see our PBCOM vs Sterling Bank home loan comparison.
Who Should Consider Each Bank?
Bank of Commerce may suit borrowers who already have an existing banking relationship with BankCom and prefer face-to-face service. If your salary account or business account is with them, the onboarding process may be slightly smoother.
PBCOM may appeal to self-employed professionals and business owners who have documented financials and are already banking with PBCOM. Their loan officers tend to be familiar with non-standard income structures.
However, for most borrowers — especially those already carrying a loan at 7% or above — the primary goal should be securing the lowest possible rate. That is where refinancing through Nook delivers the most value: one free application, multiple lender offers, and rates starting at 5.99% p.a.
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Compare My Options →Frequently Asked Questions
Is Bank of Commerce or PBCOM better for a home loan?
It depends on your circumstances. Bank of Commerce may suit borrowers with an existing relationship at BankCom, while PBCOM can be a reasonable option for self-employed professionals. That said, neither bank is guaranteed to offer the most competitive rate on the market. Through Nook, you can compare offers from multiple lenders and access rates as low as 5.99% p.a. — often beating what either bank can offer independently.
What are the current home loan rates at Bank of Commerce and PBCOM?
Indicative rates at Bank of Commerce typically range from 7.50% to 10.00% p.a., while PBCOM rates generally fall between 7.25% and 9.75% p.a. Both banks reprice loans after the initial fixed period ends. These figures are indicative and may vary depending on loan amount, term, and borrower profile. Always request an official quote directly from the bank or through Nook for accurate figures.
Can I refinance my Bank of Commerce or PBCOM home loan through Nook?
Yes. Nook helps homeowners refinance away from their current lender — including Bank of Commerce and PBCOM — to access lower rates from competing banks. The service is completely free to borrowers. Nook is compensated by the receiving lender, not by you.
Will I be charged an early repayment penalty if I refinance?
Possibly. Both Bank of Commerce and PBCOM typically impose an early repayment or prepayment penalty if you refinance during the fixed rate period. This is usually 2% to 5% of the outstanding loan balance. Check your loan agreement or contact your bank directly to confirm whether a penalty applies and when your fixed period expires.
How much can I save by refinancing from 9% to 5.99%?
On a 3,000,000 loan over 20 years, refinancing from 9.00% down to 5.99% p.a. reduces your estimated monthly repayment from approximately 26,990 to 21,480 — a saving of around 5,510 per month. Over 20 years, that amounts to approximately 1,322,400 in total interest savings. Use Nook's free calculator to estimate savings based on your actual loan balance and remaining term.
How long does it take to refinance through Nook?
The Nook application itself takes around 10 to 15 minutes to complete online. Once submitted, Nook works with its panel of lenders to identify the best offer for your profile. Full loan approval and transfer typically takes 4 to 8 weeks depending on the receiving bank's processing time and document completeness.
Do Bank of Commerce and PBCOM accept OFW home loan applications?
Both banks accept OFW borrowers under certain conditions, typically requiring a co-borrower based in the Philippines and documentation of overseas income such as employment contracts, proof of remittances, and an Overseas Employment Certificate (OEC). Requirements may vary, so it is best to confirm directly with the bank or through Nook, which can help OFWs navigate the requirements across multiple lenders.