Which Philippine Banks Accept Home Loan Refinancing in 2026?

If you're currently paying 8%, 9%, or even 10% interest on your home loan, you may be leaving tens of thousands of pesos on the table every single year. The good news: most major Philippine banks actively accept loan transfers — and the best refinance rate available through Nook today is 5.99% per annum. That gap could mean a difference of over 100,000 pesos in interest savings over the remaining life of your loan.

This guide breaks down which banks accept refinancing in 2026, what their typical requirements look like, and how to compare your options so you get the best possible deal — not just the first offer you receive.

Why Banks Want Your Home Loan

Home loan refinancing is a competitive business. When you transfer your loan to a new bank, that bank earns years of interest income from a secured, relatively low-risk asset. This is why banks actively market refinancing products and sometimes offer promotional rates to attract borrowers from competitors.

For you as a borrower, this competition is leverage. You don't have to accept your current bank's retention offer without shopping around first. A lower rate of even 1.5 to 2 percentage points on a 3,000,000 peso loan can reduce your monthly payment by 3,000 to 5,000 pesos — and save you hundreds of thousands in total interest paid.

The Major Banks That Accept Home Loan Transfers in 2026

Here's a practical overview of the Philippine banks currently accepting refinancing applications, along with what borrowers typically experience:

BPI (Bank of the Philippine Islands)

BPI is one of the most active refinancing banks in the country. They accept loan transfers from virtually all banks and offer fixed-rate repricing periods of 1, 2, 3, 5, and 10 years. BPI is particularly popular among borrowers with strong credit histories and stable income documentation. Their process is relatively streamlined compared to smaller institutions.

BDO Unibank

BDO accepts refinancing applications and is known for its wide branch network, which can be useful during document submission. Their rates are competitive, and they offer a range of loan terms up to 20 years. BDO tends to be slightly more conservative in their appraisal process, so the appraised value of your property will play a significant role in how much they're willing to lend.

Security Bank

Security Bank has been one of the more aggressive refinancing lenders in recent years. They frequently offer promotional rates for loan transfers and have been known to cover certain transfer fees as part of their campaigns. They accept terms up to 20 years and are generally responsive during the application process.

Metrobank

Metrobank accepts home loan refinancing and is a solid option for borrowers who prefer dealing with a large, established institution. Their processing can take a bit longer than some competitors, but they're thorough and their rates are generally competitive. Metrobank is also willing to refinance condominiums, not just house-and-lot properties.

RCBC (Rizal Commercial Banking Corporation)

RCBC is worth including in your comparison. They offer home loan refinancing with competitive fixed-rate periods and accept both salaried and self-employed applicants. Their documentation requirements are broadly similar to other major banks, though they may request additional income documents for self-employed borrowers.

PNB (Philippine National Bank)

PNB accepts refinancing applications and serves both local and OFW borrowers. They have specific products tailored for Overseas Filipino Workers, which can be advantageous if you're earning abroad. Their rates are competitive and their loan terms extend up to 20 years.

UnionBank

UnionBank has been expanding its home loan portfolio and accepts refinancing transfers. As one of the more digitally forward banks in the Philippines, their application experience can feel more modern. They're a good option to add to your shortlist, particularly if you already bank with them.

Chinabank (China Banking Corporation)

Chinabank is a consistently underrated option for refinancing. They accept loan transfers and offer competitive rates, but are less frequently included in borrower comparisons simply because they market less aggressively. If you have an existing relationship with Chinabank, it's worth getting a formal quote.

EastWest Bank

EastWest Bank accepts home loan refinancing and has competitive product offerings. They're worth considering, particularly for properties in Metro Manila and key urban centers where their branch presence is strongest.

Pag-IBIG (HDMF)

Pag-IBIG is a special case. As a government housing fund, it offers some of the lowest nominal interest rates available in the Philippine market. However, eligibility is limited to active Pag-IBIG members with sufficient contribution history, and there are caps on loanable amounts and property values. If you currently have a bank loan and you're eligible for Pag-IBIG, the savings can be substantial. See our detailed guide on Pag-IBIG refinancing requirements and how to apply step by step.

What Banks Look At When You Apply to Refinance

Understanding how banks evaluate your application helps you prepare and improve your chances of approval — and of getting the best rate offered.

Loan-to-Value Ratio (LTV)

Most banks will lend up to 80% of the appraised value of your property for refinancing purposes. If your property is currently appraised at 4,000,000 pesos, the maximum loanable amount would typically be 3,200,000 pesos. If your outstanding balance is below this threshold, you're in a strong position. Note that the bank will conduct its own appraisal — you cannot use your original developer's valuation or a previous bank's figure.

Income Documentation

Salaried employees need to present recent payslips (usually 3 months), a Certificate of Employment and Compensation, and ITR (Income Tax Return) for the past 1-2 years. Self-employed applicants face a higher documentation burden: audited financial statements, DTI registration, business permits, and 6-12 months of bank statements are commonly required. OFWs typically need a valid employment contract, proof of remittances, and sometimes a Special Power of Attorney for a local representative.

Credit History

Banks will check your credit history with the Credit Information Corporation (CIC) and their own internal records. A clean repayment history on your current loan significantly improves your application. If you've had missed payments in the past 12 months, some banks may decline or offer a less favorable rate.

Remaining Loan Term and Balance

Most banks prefer refinancing loans with a remaining balance of at least 500,000 pesos and a remaining term of at least 5 years. Some set their minimum at 1,000,000 pesos. Loans that are nearly paid off are generally not worth the administrative cost of refinancing from either side.

The Real Cost of Refinancing: Fees to Expect

Refinancing is not free. Before you calculate your savings, you need to account for the upfront costs involved. Typical fees include:

For a 3,000,000 peso loan, total refinancing costs typically range between 30,000 and 60,000 pesos. At a saving of 3,000 pesos per month, you would break even in 10 to 20 months — after which every peso saved is a genuine gain. This is why refinancing makes the most sense when you have a long remaining loan term ahead of you.

How to Compare Banks Without Wasting Weeks of Your Time

The traditional approach to comparing banks involves visiting branches individually, waiting for quotes, and manually calculating which offer is best. This process can take 4 to 8 weeks and often yields incomplete comparisons because banks don't always disclose all fees upfront.

A more efficient approach is to use a mortgage broker like Nook. As the Philippines' first digital mortgage broker, Nook compares rates and offers from multiple banks on your behalf — at no cost to you. The broker fee is paid by the bank when your loan is successfully transferred. You get a complete comparison without the legwork. If you're still learning about the refinancing process itself, our guide to refinancing your home loan and lowering your monthly payments is a good starting point before you begin applying.

A Practical Example: What Refinancing Actually Saves

Let's say you have an outstanding balance of 3,500,000 pesos with 18 years remaining, currently at 8.5% per annum. Your monthly payment at that rate is approximately 30,600 pesos.

If you refinance to 5.99% per annum over the same 18-year term, your new monthly payment drops to approximately 25,100 pesos. That's a monthly saving of roughly 5,500 pesos — or 66,000 pesos per year. Over 18 years, the total interest saving exceeds 990,000 pesos before accounting for the fixed-rate repricing period.

Even after deducting 50,000 pesos in upfront refinancing fees, the net saving over the loan term remains close to 940,000 pesos. Numbers like these are why refinancing is one of the highest-impact financial decisions a Filipino homeowner can make.

Key Questions to Ask Every Bank Before You Commit

Before signing any refinancing agreement, make sure you have clear answers to these questions:

The answers to these questions can significantly change the total cost of the loan over time, even if two banks offer the same headline rate.

Bottom Line

In 2026, Filipino homeowners have genuine options when it comes to refinancing. Most of the country's major banks — BPI, BDO, Security Bank, Metrobank, RCBC, PNB, UnionBank, Chinabank, EastWest, and Pag-IBIG — actively accept loan transfers. The best rate currently available through Nook is 5.99% per annum, which represents a significant improvement for borrowers currently locked into rates of 8% and above.

The key is not to accept the first offer you receive, and not to assume your current bank is giving you a competitive deal. Compare multiple banks, understand the full cost of switching, and calculate your break-even timeline before you decide. If you want help doing that comparison without spending weeks visiting branches, Nook's service is free to use and covers the major lenders across the market.