Which Banks Accept Home Loan Refinancing in the Philippines (2026)

If you're paying more than 7% interest on your home loan right now, you're likely overpaying — and the good news is that most major Philippine banks actively want your business. Refinancing your home loan means switching your existing mortgage to a new lender who offers you a lower rate, better terms, or both. The question most homeowners ask first is: which banks will actually accept my application?

This guide breaks down every major bank currently accepting home loan refinancing applications in the Philippines, what each one looks for, and how to decide which is the right fit for your situation.

The Philippine Bank Refinancing Landscape in 2026

The Philippine mortgage market has become increasingly competitive since 2023. Banks are hungry for good borrowers, which means refinancing terms have improved significantly. The best refinance rate currently available through Nook is 5.99% per annum — a dramatic improvement for anyone locked into a loan at 8%, 9%, or even higher.

To put this in concrete terms: on a 3,000,000 peso home loan with 20 years remaining, the difference between 8.5% and 5.99% is roughly 4,400 pesos per month. Over 20 years, that's more than 1,000,000 pesos in total savings. The numbers are real, and they're why refinancing is one of the most impactful financial moves a Filipino homeowner can make.

For a broader overview of how the refinancing process works from start to finish, see our guide on how to lower your monthly payments through home loan refinancing.

Major Banks That Accept Refinancing Applications

BDO Unibank

BDO is the Philippines' largest bank by assets and one of the most active home loan refinancers in the market. They accept refinancing from virtually all other banks, including Pag-IBIG. BDO typically requires a minimum loan amount of 500,000 pesos and looks for borrowers with at least 12 months of good payment history on their existing loan. Their fixed-rate periods range from 1 to 5 years, after which the rate reprices. BDO is known for relatively fast processing (6–8 weeks) and an established appraisal network that covers most provinces.

BPI (Bank of the Philippine Islands)

BPI is consistently among the top choices for refinancing, particularly for borrowers with stable employment or a strong business income. They offer fixed periods of 1, 2, 3, 5, 10, 15, 20, and 25 years, giving borrowers unusual flexibility in locking in their rate. BPI tends to be conservative on property valuation, so borrowers whose properties have appreciated significantly may get higher appraised values from other banks. Minimum loan amount is typically 800,000 pesos.

Security Bank

Security Bank has become one of the most competitive refinancers in recent years, frequently offering rates that undercut the larger banks. They are particularly aggressive in targeting borrowers from BDO, BPI, and Metrobank. Security Bank is known for a streamlined documentary process and a dedicated home loan team that can move quickly. They accept refinancing from all major banks and Pag-IBIG. Minimum loan: 500,000 pesos.

Metrobank

Metrobank offers refinancing on both residential and condominium properties and is one of the few banks with competitive rates for high-value properties (above 10,000,000 pesos). They have a large branch network that makes document submission and follow-ups more accessible outside Metro Manila. Their processing time can run 8–10 weeks, slightly longer than average, but their rate offers are often worth the wait for larger loan amounts.

RCBC (Rizal Commercial Banking Corporation)

RCBC is an underrated option for refinancing that many borrowers overlook. They are particularly open to self-employed applicants and small business owners who may have difficulty qualifying at more conservative banks. RCBC offers fixed periods of 1, 2, 3, and 5 years and has competitive rates for loans between 1,000,000 and 5,000,000 pesos. Their appraisal team is active in both Metro Manila and key provincial cities.

PNB (Philippine National Bank)

PNB accepts refinancing from all major lenders and is notable for being one of the more accommodating banks for OFW (Overseas Filipino Worker) borrowers. If your household income is primarily from an OFW spouse, PNB has established processes for documenting foreign income. They also offer competitive rates for Pag-IBIG-to-bank refinancing. Expect processing times of around 8 weeks.

UnionBank

UnionBank has invested heavily in its digital mortgage infrastructure, making it one of the faster banks for initial processing and document submission. They accept refinancing from all major sources and are particularly strong for borrowers in Metro Manila and Cebu. UnionBank tends to be competitive on rates for loan amounts above 2,000,000 pesos.

Chinabank (China Banking Corporation)

Chinabank is a strong choice for borrowers in the Chinese-Filipino business community and for those with properties in commercial or mixed-use areas. They have competitive rates and a conservative but fair appraisal approach. Chinabank accepts refinancing from all major banks and Pag-IBIG.

PSBank (Philippine Savings Bank)

PSBank, a subsidiary of Metrobank, focuses on smaller loan amounts and is often the right choice for borrowers with loans between 500,000 and 2,000,000 pesos. They have a simplified application process and are accessible to a wide range of income profiles.

EastWest Bank

EastWest Bank is competitive for refinancing and has expanded its home loan operations significantly in recent years. They are known for responsive customer service and are open to borrowers with non-traditional income documentation.

Robinsons Bank

Robinsons Bank, now merged with BDO, continues to process applications under its own brand for existing pipeline loans, but new refinancing applications are being directed to BDO channels. Check with Nook for the latest on Robinsons Bank's current refinancing availability.

Pag-IBIG (HDMF)

Pag-IBIG is technically a government fund rather than a bank, but it is one of the most important refinancing sources in the Philippines. Pag-IBIG accepts refinancing from private banks and offers rates that are often highly competitive for loans up to 6,000,000 pesos. The catch is that Pag-IBIG refinancing is only available to active Pag-IBIG members with a minimum of 24 monthly contributions. For detailed requirements, see our dedicated guide on Pag-IBIG refinancing requirements and the step-by-step application process.

What Banks Look For When Evaluating Your Refinancing Application

Understanding what banks assess helps you present the strongest possible application. Across all Philippine banks, the key factors are consistent:

The Hidden Complexity: Why Comparing Banks Is Harder Than It Looks

When a bank advertises a rate, that headline number rarely tells the whole story. The actual cost of refinancing depends on the fixed period length, the reversion rate after the fixed period, processing fees, appraisal fees, mortgage redemption insurance (MRI), fire insurance, and documentary stamp tax. Two banks offering the same headline rate can result in very different total costs over a 5-year period.

For example, a bank offering 6.25% with a 3-year fixed period may be more expensive over 10 years than a bank offering 6.50% with a 5-year fixed period, depending on where rates go after the fixed period expires. This is why working with someone who can model out multiple scenarios across multiple banks is genuinely valuable.

If you want to understand how a mortgage broker navigates these tradeoffs on your behalf, our complete guide to working with a Filipino mortgage broker explains the process in detail.

How Nook Helps You Navigate Your Options

Nook is the Philippines' first digital mortgage broker, which means we work with all the banks listed above simultaneously on your behalf. Instead of submitting separate applications to BDO, then Security Bank, then RCBC — and having your credit pulled multiple times — Nook prepares a single consolidated application package and presents it to multiple lenders at once.

Our service is completely free to borrowers. We are compensated by the bank that wins your business, which means our incentive is to find you the best deal — not to push you toward any particular lender. Here's how it works in practice:

Most Nook clients complete their refinancing within 6–10 weeks from initial application to loan release.

When Refinancing Makes Financial Sense

Not every homeowner should refinance. It makes the most sense when:

If you're unsure whether refinancing makes sense for your specific situation, Nook's free assessment will give you a clear answer based on your actual numbers — no commitment required.