Which Philippine Banks Accept Home Loan Refinancing Transfers?
If you're paying a high interest rate on your existing home loan, refinancing — also called a loan transfer — could significantly reduce your monthly payments. But not all banks in the Philippines actively accept refinancing applications from borrowers of other institutions, and those that do have varying requirements, rates, and approval criteria.
This guide breaks down which banks accept home loan transfers in 2026, what to expect from each, and how to find the best deal without spending weeks calling banks one by one.
How Bank Refinancing Works in the Philippines
When you refinance your home loan, a new bank pays off your existing loan and issues you a fresh loan — ideally at a lower interest rate and with better terms. This is different from loan restructuring, where your current bank changes your existing loan terms.
Most banks in the Philippines offer refinancing to borrowers with:
- At least 12 to 24 months of on-time payments with their current lender
- A remaining loan balance of at least 500,000 pesos (some banks require 1,000,000 or more)
- A property with a clean title and no encumbrances other than the current mortgage
- Proof of income sufficient to service the new loan
The typical refinancing process takes 4 to 8 weeks from application to loan release. During this time, the new bank will appraise your property, verify your income, and conduct a title search. You can learn more about the full end-to-end process in our guide to refinancing your home loan in the Philippines.
The Major Banks That Accept Home Loan Transfers
BDO Unibank
BDO is the largest bank in the Philippines by assets and one of the most active home loan lenders. BDO accepts refinancing transfers from borrowers of other banks and even from Pag-IBIG. Their fixed-rate periods typically run 1, 2, 3, 5, or 10 years, after which the loan reprices to the prevailing rate. BDO generally requires a minimum loan amount of 1,000,000 pesos and a loan term of up to 20 years. They are known for competitive processing times and wide branch coverage, which can be helpful during the documentation phase.
BPI (Bank of the Philippine Islands)
BPI is consistently one of the top choices for home loan refinancing. They offer fixed-rate periods of 1 to 20 years, giving borrowers more flexibility to lock in a rate for longer. BPI's home loan rates are competitive, and they accept transfers from most major banks and Pag-IBIG. Their minimum loanable amount for refinancing is typically 500,000 pesos, and loan terms extend up to 20 years. BPI also has a streamlined online application portal, which makes it easier to start the process.
Security Bank
Security Bank has positioned itself as a borrower-friendly option for refinancing. They are known for being more flexible with income documentation, which can benefit self-employed borrowers or those with variable income. Security Bank accepts transfers from other universal and commercial banks, as well as Pag-IBIG. They offer fixed-rate periods of 1, 2, 3, 5, and 10 years. Minimum loan amount is generally 500,000 pesos with terms up to 25 years.
RCBC (Rizal Commercial Banking Corporation)
RCBC is another active participant in the home loan refinancing market. They offer competitive interest rates and fixed-rate terms ranging from 1 to 10 years. RCBC accepts transfers from other banks and Pag-IBIG, with minimum loan amounts starting at 300,000 pesos in some cases — one of the lower minimums among commercial banks. Loan terms go up to 20 years. RCBC can be a good option for borrowers with smaller remaining balances who may be turned away by banks with higher minimums.
Metrobank
Metrobank is a major player in the Philippine home loan market and accepts refinancing transfers. Their fixed-rate offerings typically cover 1, 2, 3, and 5 years. Metrobank is known for thorough underwriting, which means the approval process may take slightly longer, but the rates can be competitive. Minimum loan amount is generally 1,000,000 pesos, and terms run up to 25 years.
UnionBank
UnionBank has been expanding its home loan portfolio and accepts refinancing from other institutions. They offer fully digital processing for many stages of the application, which can speed up the experience. Fixed-rate periods are available for 1, 2, 3, and 5 years. Loan terms go up to 20 years with a minimum loan amount of 1,000,000 pesos.
PNB (Philippine National Bank)
PNB accepts refinancing transfers and is particularly active among OFW borrowers. They have dedicated OFW home loan products and refinancing options. Fixed-rate periods range from 1 to 10 years, with loan terms up to 20 years. PNB's minimum loan amount for refinancing is typically 500,000 pesos.
EastWest Bank
EastWest Bank accepts home loan transfers and is known for faster-than-average processing. They offer fixed-rate periods of 1, 2, 3, and 5 years. Minimum loanable amount is 500,000 pesos with terms up to 20 years. EastWest can be worth exploring if you've had difficulty getting approved elsewhere.
Chinabank (China Banking Corporation)
Chinabank accepts home loan refinancing and offers both fixed and variable rate options. Fixed-rate periods of 1 to 5 years are available. Minimum loan amount is typically 1,000,000 pesos with terms up to 20 years. Chinabank can be competitive on rates for borrowers with strong credit profiles.
PSBank (Philippine Savings Bank)
PSBank, the thrift banking subsidiary of Metrobank, also accepts refinancing transfers. They tend to be flexible on income documentation and can accommodate both employed and self-employed borrowers. Minimum loan amounts start at 500,000 pesos with terms up to 20 years.
What About Pag-IBIG Refinancing?
Pag-IBIG (HDMF) operates differently from commercial banks. If you currently have a Pag-IBIG home loan, you can refinance to a commercial bank — and many borrowers do this to access lower interest rates. Conversely, if you have a bank loan, you may also refinance to Pag-IBIG if you are an active Pag-IBIG member. Pag-IBIG's home loan rates can be competitive for lower loan amounts. For a detailed walkthrough of this option, see our guide on Pag-IBIG refinancing requirements and the step-by-step application process.
How Much Can You Actually Save by Refinancing?
The savings depend on your current rate, your remaining balance, and the new rate you qualify for. Here's a concrete example:
Suppose you have a remaining loan balance of 3,500,000 pesos with 15 years left, and you're currently paying 8.5% per annum. Your estimated monthly payment at that rate is approximately 34,453 pesos. If you refinance to 5.99% per annum for the same remaining term, your new monthly payment drops to approximately 29,559 pesos — a saving of roughly 4,894 pesos per month, or about 58,728 pesos per year.
Over a 5-year fixed period, that's nearly 294,000 pesos in savings before accounting for repricing. Even after deducting refinancing costs (which typically run 50,000 to 100,000 pesos in processing fees, appraisal, and documentary stamp tax), the net saving is substantial.
What Does Refinancing Actually Cost?
Refinancing is not entirely free, even when a broker like Nook charges nothing. The costs you'll typically encounter include:
- Processing or application fee: 5,000 to 10,000 pesos, depending on the bank
- Appraisal fee: 5,000 to 12,000 pesos
- Documentary stamp tax (DST): 1.5% of the loan amount (a significant cost on larger loans)
- Notarial and mortgage registration fees: Varies by location, typically 10,000 to 30,000 pesos
- Cancellation of old mortgage: Fees to release the title from your old bank
Total out-of-pocket refinancing costs commonly range from 50,000 to 120,000 pesos for a typical loan. However, some banks offer to absorb certain fees during promotional periods, so it pays to ask.
Why Applying to Multiple Banks Matters
Interest rates and approval criteria vary significantly from bank to bank, and the rate one bank quotes you in a brochure may not be the rate you actually get — banks price individual loans based on your income, loan-to-value ratio, credit history, and the property's location and type.
This is why comparing offers from multiple banks before committing is critical. Applying individually to five or six banks, however, is time-consuming and can feel like a full-time job. Each bank has its own document checklist, its own appraisal process, and its own timeline.
Using a mortgage broker like Nook means submitting one set of documents and receiving comparable offers from multiple banks simultaneously. Nook's service is completely free to borrowers — the broker is compensated by the bank that ultimately wins your business. If you'd like to understand more about how this works, our complete guide to using a Filipino mortgage broker explains the process in detail.
Key Questions to Ask Any Bank Before Refinancing
- What is the fixed interest rate and for how long is it fixed?
- What does the rate revert to after the fixed period, and how is it determined?
- What are all the fees involved, including those the bank does not advertise upfront?
- What is the minimum and maximum loan amount and term?
- Can the loan be prepaid without penalty, and if so, after how many years?
- What documents do you need from a self-employed borrower vs. an employed borrower?
Final Thoughts
Most major Philippine banks accept home loan refinancing transfers, but the best bank for you depends on your loan size, income profile, property type, and how long you want to lock in your rate. The lowest advertised rate is not always the rate you'll receive — your actual offer depends on the bank's assessment of your specific situation.
The most efficient approach is to apply to several banks simultaneously and let them compete for your business. Nook makes this process free and streamlined for Filipino homeowners — you submit once, and Nook matches you with the best offer available.