Which Philippine Banks Accept Home Loan Refinancing (Loan Transfers)?
Refinancing — also called a home loan transfer or loan takeout — means moving your existing mortgage from your current bank to a new lender that offers better terms. In the Philippines, this is a standard product offered by most major commercial banks, though each has its own eligibility rules, minimum loan amounts, and rate structures.
Below is a comprehensive overview of the major banks that accept inward home loan transfers in 2026, and how they compare on the factors that matter most to borrowers.
BDO Unibank
Accepts refinancing: Yes
Indicative rates: From around 7.00% (1-year fixed) to 9.50%+ (longer fixed terms)
Minimum loan amount: 1,000,000
Lock-in period: Typically 1–3 years depending on rate promo
Notable: BDO is one of the largest mortgage lenders in the Philippines. They regularly run rate promotions for loan transfers and have a wide branch network for document submission. Processing times can be 4–8 weeks.
BPI (Bank of the Philippine Islands)
Accepts refinancing: Yes
Indicative rates: From around 6.50% (1-year fixed) to 9.00%+ (longer fixed terms)
Minimum loan amount: 800,000
Lock-in period: 1–5 years
Notable: BPI offers competitive introductory rates for loan transfers and has a relatively streamlined application process. Their online portal makes document tracking easier. See also our BPI vs Metrobank rate comparison for a deeper look at how BPI stacks up against another top lender.
Metrobank
Accepts refinancing: Yes
Indicative rates: From around 7.00% (1-year fixed) to 9.50%+ (longer terms)
Minimum loan amount: 1,000,000
Lock-in period: 1–5 years
Notable: Metrobank is known for its strong appraisal team and generally competitive valuations on refinanced properties. Processing is thorough but can take 6–10 weeks for complex cases.
Security Bank
Accepts refinancing: Yes
Indicative rates: From around 6.75% (1-year fixed) to 8.75%+ (longer terms)
Minimum loan amount: 1,000,000
Lock-in period: 1–3 years
Notable: Security Bank has historically been one of the more aggressive lenders for loan transfers, occasionally offering rates below 7% on promotional terms. They also have relatively transparent fee structures.
RCBC (Rizal Commercial Banking Corporation)
Accepts refinancing: Yes
Indicative rates: From around 7.25% (1-year fixed) to 9.25%+ (longer terms)
Minimum loan amount: 1,000,000
Lock-in period: 1–3 years
Notable: RCBC is a solid option for borrowers with properties outside Metro Manila. For a head-to-head look at RCBC against another popular lender, read our UnionBank vs RCBC home loan rates comparison.
UnionBank
Accepts refinancing: Yes
Indicative rates: From around 7.00% (1-year fixed) to 9.00%+ (longer terms)
Minimum loan amount: 1,000,000
Lock-in period: 1–3 years
Notable: UnionBank has invested heavily in digital processes and often has faster pre-approval timelines than traditional banks. Good option for tech-savvy borrowers who prefer online tracking.
PNB (Philippine National Bank)
Accepts refinancing: Yes
Indicative rates: From around 7.50% (1-year fixed) to 9.50%+ (longer terms)
Minimum loan amount: 500,000
Lock-in period: 1–5 years
Notable: PNB accepts lower minimum loan amounts than most competitors, making them a good option for borrowers with smaller outstanding balances. Service quality varies significantly by branch.
Chinabank (China Banking Corporation)
Accepts refinancing: Yes
Indicative rates: From around 7.25% (1-year fixed) to 9.25%+ (longer terms)
Minimum loan amount: 1,000,000
Lock-in period: 1–3 years
Notable: Chinabank caters well to Filipino-Chinese borrowers and has strong presence in key commercial areas. Their appraisal team is generally conservative but consistent.
EastWest Bank
Accepts refinancing: Yes
Indicative rates: From around 7.50% (1-year fixed) to 9.75%+ (longer terms)
Minimum loan amount: 1,000,000
Lock-in period: 1–2 years
Notable: EastWest is a growing player in the mortgage space. Rates tend to be slightly higher than the top-tier banks but approval criteria can be more flexible for certain borrower profiles.
PSBank (Philippine Savings Bank)
Accepts refinancing: Yes
Indicative rates: From around 7.75% (1-year fixed) to 9.75%+ (longer terms)
Minimum loan amount: 500,000
Lock-in period: 1–3 years
Notable: PSBank is the thrift banking arm of Metrobank Group. Rates are generally slightly above Metrobank's but the minimum loan amount is lower, making it accessible to more borrowers.
Robinsons Bank
Accepts refinancing: Yes
Indicative rates: From around 7.50% (1-year fixed) to 9.50%+ (longer terms)
Minimum loan amount: 1,000,000
Lock-in period: 1–3 years
Notable: Robinsons Bank (now being integrated with BDO following acquisition) has historically offered competitive rates for properties in areas near Robinsons-affiliated developments.
Pag-IBIG (HDMF)
Accepts refinancing: Yes — but only from Pag-IBIG funded loans or qualified members
Indicative rates: From 6.375% (for 1-year fixed, based on published schedules)
Minimum loan amount: N/A (based on Pag-IBIG contribution history)
Lock-in period: Varies by term
Notable: Pag-IBIG offers some of the lowest published rates in the market but eligibility is strict — you must be an active contributing member and the refinancing program has specific rules on outstanding loan age and payment history. Not available for loans from private banks unless converting to a Pag-IBIG loan.
Side-by-Side: What to Compare When Choosing a Bank for Refinancing
| Factor | Why It Matters | What to Look For |
|---|---|---|
| Interest Rate (Fixed Period) | Determines your monthly payment and total interest cost | Lowest rate for your preferred fixed term (1, 2, 3, or 5 years) |
| Re-pricing Rate After Fixed Period | Your rate resets after the fixed term — often much higher | Ask what the re-pricing benchmark is (e.g., bank's prevailing rate, Treasury-linked) |
| Lock-in Period & Penalty | If you refinance again or pre-pay, banks charge a penalty during lock-in | Shorter lock-in periods give you more flexibility; penalties are typically 2–5% of outstanding balance |
| Processing Fee | Upfront cost to process your application | Typically 5,000–10,000; some banks waive this for transfers |
| Miscellaneous Fees | Appraisal, notarial, registration, and documentation fees add to your cost | Budget 30,000–80,000 in total closing costs for a typical refinance |
| Maximum LTV (Loan-to-Value) | Determines how much you can borrow relative to appraised value | Most banks lend up to 80% LTV; some up to 90% for certain products |
| Approval Timeline | Affects how quickly you can start saving | Faster banks process in 3–5 weeks; slower ones take 8–12 weeks |
| Property Eligibility | Some banks restrict the types or locations of properties they will finance | Confirm your property type (condo, house & lot, raw land) is accepted |
How Much Can You Save by Refinancing?
The savings from refinancing depend on your current rate, new rate, loan balance, and remaining term. Here are three realistic examples based on common borrower scenarios in the Philippines:
| Scenario | Outstanding Balance | Current Rate | New Rate (via Nook) | Remaining Term | Monthly Savings | Total Interest Saved |
|---|---|---|---|---|---|---|
| Small condo, Quezon City | 2,000,000 | 9.00% | 5.99% | 20 years | ~3,400 | ~816,000 |
| Mid-range house & lot, Cavite | 3,500,000 | 8.50% | 5.99% | 18 years | ~5,100 | ~1,100,000 |
| BGC condo, larger balance | 6,000,000 | 8.00% | 5.99% | 15 years | ~6,200 | ~1,116,000 |
Note: Monthly savings and total savings are approximate and based on amortizing loan calculations. Actual savings will vary based on the bank's final offered rate, fees, and your specific loan structure. Nook provides a personalized savings estimate when you submit your details.
Banks That Do NOT Accept Inward Home Loan Transfers
It's also worth knowing which institutions generally do not accept home loan transfers from other banks, so you don't waste time applying:
- Landbank of the Philippines: Primarily serves agricultural and government sector borrowers. Landbank does offer housing loans but generally does not accept transfers from private commercial banks.
- UCPB (United Coconut Planters Bank): UCPB was merged into Landbank in 2022, and the combined entity follows Landbank's policies on inward transfers.
- Some rural banks and cooperative banks: These institutions typically originate home loans but rarely accept inward transfers from other institutions due to limited appraisal and legal infrastructure.
If you're unsure whether your target bank accepts a transfer from your current lender, Nook's team can confirm eligibility before you apply.
What Are the Requirements to Refinance Your Home Loan in the Philippines?
Regardless of which bank you choose, you'll generally need to prepare the following documents:
- Valid government-issued ID (at least 2)
- Proof of income: latest 3 months payslips (employed) or 2 years ITR + audited financial statements (self-employed)
- Certificate of Employment (for employed borrowers)
- Latest 6–12 months mortgage statement of account from your current bank
- Copy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
- Tax Declaration of the property
- Copy of the existing mortgage contract / loan agreement
- Proof of billing or residence
Some banks may request additional documents such as a photocopy of the title's back page, updated tax receipts, or an authorization letter to verify your existing loan balance directly with your current lender. For a broader look at how to choose between lenders, see our 2026 home loan bank comparison guide.
Why Use Nook Instead of Applying Bank by Bank?
When you apply for a home loan refinance directly with one bank, you only see that bank's rate. You have no way of knowing if another bank would have offered you 0.5% or 1.0% lower — which on a 4,000,000 loan over 20 years is the difference of hundreds of thousands of pesos.
Nook is the Philippines' first digital mortgage broker. We submit your profile to multiple accepting banks simultaneously, collect their offers, and present you with the best rate. Here's what makes Nook different:
- 100% free for borrowers — Nook is compensated by the bank when your loan is approved, never by you
- Multiple bank offers from one application — no need to fill out the same form five times
- Rate of 5.99% p.a. — the best currently available through Nook's bank panel
- Expert guidance — a dedicated mortgage advisor walks you through every step
- No obligation — you're not committed to anything until you sign with the bank
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which banks in the Philippines accept home loan refinancing (loan transfers)?
Most major commercial banks accept inward home loan transfers, including BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, PNB, Chinabank, EastWest Bank, PSBank, and Robinsons Bank. Pag-IBIG (HDMF) also offers a refinancing program but it is limited to qualifying Pag-IBIG members. Landbank generally does not accept transfers from private commercial banks.
What is the lowest home loan refinance rate available in the Philippines in 2026?
The best refinance rate currently available through Nook is 5.99% per annum. Most homeowners who haven't refinanced in several years are paying between 7% and 10%, so switching to 5.99% can result in significant monthly and lifetime savings depending on your outstanding balance and remaining loan term.
Can I refinance my home loan with any bank, or does it have to be a specific one?
You can generally refinance with any accepting bank — it does not need to be the one you currently bank with or the one that originally issued your mortgage. However, some banks have restrictions on certain property types, locations, or minimum outstanding balances. Nook checks your eligibility across multiple banks at once so you don't have to apply one by one.
How long does home loan refinancing take in the Philippines?
The typical home loan refinancing process in the Philippines takes between 4 and 10 weeks from submission of complete documents to loan release. Faster banks with stronger digital infrastructure (such as BPI and UnionBank) can process in as little as 3–5 weeks, while more document-intensive lenders may take 8–12 weeks. Nook's advisors help you prepare a complete document package upfront to avoid delays.
What are the costs involved in refinancing a home loan in the Philippines?
Common refinancing costs include a processing fee (typically 5,000–10,000), appraisal fee (typically 3,500–7,500), notarial fees, mortgage registration fees at the Registry of Deeds, and documentary stamp tax. Total out-of-pocket closing costs typically range from 30,000 to 80,000 depending on the loan amount and bank. These costs are usually recovered within 6–18 months through monthly interest savings.
What happens to my existing home loan when I refinance?
When you refinance, your new bank pays off your outstanding balance with your current lender. Your mortgage is then registered in favor of the new bank, and you begin making monthly payments to them instead. Your property title goes through a re-annotation process at the Registry of Deeds to reflect the change in mortgage holder. Your current bank will release the title and cancel the old mortgage annotation once fully settled.
Is there a penalty for refinancing my home loan before the lock-in period ends?
Yes — most Philippine banks impose a pre-termination or lock-in penalty if you refinance or fully settle your loan during the lock-in period, which is typically 1 to 3 years. Penalties are usually 2% to 5% of the outstanding loan balance. This is why it's important to refinance only after your current lock-in has expired, or to calculate whether the savings still outweigh the penalty if you're refinancing mid-lock-in.
Do I need to use the same bank for refinancing that I already have a savings account with?
No, you do not need to have an existing relationship with the refinancing bank. That said, some banks may offer slightly better service or faster processing for existing depositors. For most borrowers, the interest rate offered is a far more important factor than branch convenience or existing banking relationship. Nook helps you identify which bank is genuinely offering the best deal for your specific profile.