Which Philippine Banks Accept Home Loan Refinancing Transfers in 2026?

Refinancing your home loan means moving your existing mortgage from one bank to another — or renegotiating the terms with your current lender — to secure a lower interest rate, reduce your monthly payments, or shorten your loan term. In the Philippines, this is called a bank refinance home loan or a loan takeover, and it has become one of the most powerful financial moves available to Filipino homeowners in 2026.

The good news: most major Philippine banks actively compete for refinance business. The better news: the best refinance rate available through Nook right now is 5.99% per annum — a rate that could save a typical homeowner hundreds of thousands of pesos over the life of their loan. If you're currently paying 7%, 8%, or even 10% on your existing home loan, reading this guide could be one of the most financially important things you do this year.

This guide covers which banks accept refinancing transfers, what their general eligibility requirements look like, how the process works, and how to compare your options intelligently.

Why Banks Compete for Refinance Customers

Before diving into which banks accept transfers, it helps to understand the market dynamic. When you refinance, you are a known quantity: you have a credit history, an existing property with established value, and a track record of making (or missing) mortgage payments. This makes you lower-risk than a first-time borrower. Banks know this, which is why they often offer their most competitive rates specifically to attract refinance transfers from competing institutions.

This competition works in your favor. But navigating it alone — calling each bank, comparing rate sheets, and decoding fine print — is time-consuming and confusing. That's exactly why Nook exists: to do this legwork for you, at zero cost.

Philippine Banks That Accept Home Loan Refinancing Transfers

Here is a practical overview of the major banks accepting home loan refinancing transfers in 2026. Note that rates and policies change frequently, so always verify current offers directly or through a broker like Nook.

BDO Unibank

BDO is the Philippines' largest bank and one of the most active participants in the refinance market. BDO accepts loan takeovers from other banks and Pag-IBIG. Their fixed-rate periods typically range from 1 to 5 years, with re-pricing thereafter. BDO generally requires a minimum loan amount of around 1,000,000 pesos and looks for borrowers with stable employment or verifiable business income. Properties in Metro Manila and major provincial cities are preferred but not exclusively financed.

BPI (Bank of the Philippine Islands)

BPI is widely regarded as having one of the most borrower-friendly refinancing processes. They accept transfers from most banks and government lenders. BPI offers competitive fixed rates and is known for relatively efficient processing. For a 3,000,000-peso loan refinanced from 8.5% down to 5.99% over a 20-year term, the monthly savings alone can exceed 4,500 pesos — meaning you recover typical closing costs within 12 to 18 months.

Metrobank

Metrobank is another major player actively accepting refinance transfers. They tend to be conservative on appraisal, which means the appraised value they assign to your property may be slightly lower than you expect — affecting your loan-to-value ratio (LTV). However, their rates are competitive and their loan officers are experienced with takeover transactions.

Security Bank

Security Bank has positioned itself aggressively in the refinance space, particularly for mid-to-high loan amounts between 3,000,000 and 10,000,000 pesos. They offer some of the most attractive fixed rates on the market and are often where Nook finds the best match for borrowers with strong credit profiles. Security Bank also accepts Pag-IBIG home loan refinancing transfers, which is a significant advantage for many borrowers.

RCBC (Rizal Commercial Banking Corporation)

RCBC is a solid option for borrowers who may not qualify at the top-tier banks. Their credit policies can be slightly more flexible, and they accept transfers from a wide range of lenders. RCBC is particularly active in provincial markets outside Metro Manila.

UnionBank

UnionBank has invested heavily in digital processes, making their refinancing application experience smoother than many competitors. They accept transfers from other banks and are a strong option for employed borrowers with payroll accounts at UnionBank.

Chinabank (China Banking Corporation)

Chinabank is a strong option for self-employed borrowers and business owners. Their income documentation requirements can accommodate ITR-based income verification more flexibly than some competitors. Loan amounts from 1,500,000 pesos upward are generally considered.

PNB (Philippine National Bank)

PNB accepts refinancing transfers and is particularly relevant for OFW borrowers, given their extensive network for processing overseas income documentation. PNB also participates in government housing programs that can complement refinancing.

EastWest Bank

EastWest Bank is a growing presence in the home loan market and accepts refinance transfers. They are worth including in any rate comparison, particularly for borrowers in the 2,000,000 to 5,000,000 peso range.

PSBank (Philippine Savings Bank)

PSBank, the thrift bank affiliate of Metrobank, offers competitive home loan products including refinancing. As a savings bank, they sometimes have more flexible LTV policies than their parent institution.

What Banks Look at When You Apply for a Refinance

Every bank runs its own credit assessment, but the core eligibility factors are consistent across the industry:

Real Example: How Much Can You Save?

Let's use a concrete example to illustrate the savings potential. Suppose you took out a home loan 3 years ago for 5,000,000 pesos at 8.5% per annum on a 20-year term. Your current monthly payment is approximately 43,400 pesos, and your outstanding balance is roughly 4,750,000 pesos.

If you refinance that 4,750,000-peso balance at 5.99% per annum on a new 20-year term, your new monthly payment drops to approximately 33,950 pesos. That's a monthly saving of around 9,450 pesos, or 113,400 pesos per year. Over the remaining life of the loan, the total interest savings can exceed 1,500,000 pesos — even after accounting for closing costs of roughly 100,000 to 150,000 pesos (legal fees, appraisal, transfer taxes, and documentary stamps).

Your break-even point — the point at which savings exceed costs — arrives in approximately 11 to 16 months. After that, every month is pure savings.

The Bank Refinancing Process: Step by Step

Understanding the process helps you set realistic expectations. Here's how a typical bank refinancing transfer works in the Philippines:

  1. Assessment and Rate Shopping (1–2 weeks): Gather your documents (title, loan statements, income docs, IDs) and submit applications to multiple banks — or let Nook do this for you simultaneously at no cost.
  2. Bank Processing and Appraisal (3–6 weeks): Each bank orders an independent appraisal of your property and evaluates your credit. This is the longest part of the process.
  3. Loan Offer and Negotiation (1 week): Banks issue a formal loan offer. At this stage, there is sometimes room to negotiate rates, especially if you have competing offers.
  4. Loan Redemption from Old Bank (2–4 weeks): Your new bank coordinates with your old bank to redeem (pay off) your existing loan and release the title. Your old bank may charge a pre-termination fee of 1–3% of the outstanding balance.
  5. Title Transfer and Mortgage Registration (4–8 weeks): The title is transferred and the new mortgage annotation is registered with the Registry of Deeds.

Total timeline: typically 3 to 5 months from start to finish. Nook helps coordinate all parties to keep the process moving as efficiently as possible.

Documents You'll Need to Prepare

Should You Stay With Your Current Bank or Transfer?

Before committing to a transfer, always check with your current bank first. Some lenders will renegotiate your rate to retain you as a customer, especially if you have a strong payment history. Ask for a formal re-pricing offer in writing, then compare it against what competing banks are offering.

If your current bank's best offer is 7.5% and a competing bank is offering 5.99%, the math almost always favors transferring — even after accounting for pre-termination fees and closing costs. The longer your remaining loan term, the more decisively the numbers favor switching.

For a comprehensive walkthrough of the full refinancing process in the Philippines, see our complete guide to refinancing your housing loan.

How Nook Helps You Navigate Bank Refinancing

Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We work with a panel of accredited banks and submit your application to multiple lenders simultaneously, so you get competing offers without filling out a dozen separate forms. Our mortgage specialists guide you through document preparation, bank negotiations, and the redemption process — saving you months of effort and, in most cases, securing a better rate than you'd find on your own. Banks pay us a referral fee only when a loan is successfully closed; you pay nothing.