If you took out a BDO home loan more than two years ago, there's a good chance you're paying 7% or more — when today's best refinance rate through Nook is just 5.99% p.a. Switching could save you thousands every month.
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Why this matters
BDO is one of the Philippines' most popular home loan providers, and for good reason — strong branch network, established processes, and a wide range of loan products. But like any bank, BDO re-prices its fixed-rate periods on a rolling basis. If your fixed rate has already repriced once or twice since you first took out your loan, you may now be paying a rate that no longer reflects the most competitive options in the market. Understanding the full refinance process is the first step toward knowing whether switching makes financial sense for you.
Refinancing your BDO home loan doesn't necessarily mean leaving BDO — it means benchmarking your current rate against what other lenders are offering and making an informed decision. Through Nook, you can compare BDO's own refinance rates alongside offers from other partner banks, all in one place and completely free. BDO's current 1-year fixed refinance rate is 6.00% p.a., which is among the most competitive in the market. Whether you stay with BDO or switch to another lender, Nook handles the legwork so you don't have to chase paperwork across multiple banks. If you want a clear breakdown of what documents and fees to expect, see our guide to switching banks and lowering your rate.
The typical refinance candidate in the Philippines has a remaining loan balance of 2,000,000 to 5,000,000 pesos and has been paying their loan for at least three to five years. If that sounds like you, the savings potential is real and significant. On a 3,000,000 peso loan at 8.00%, refinancing to 6.00% at BDO (or lower through other Nook partners) can cut your monthly payment by thousands of pesos — money that stays in your pocket every single month for the life of the loan. Note that interest rates are subject to change; always verify current rates with the bank or through Nook before making a decision.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
You can refinance within BDO — this is called an internal refinance or loan restructuring, and it lets you lock in a new fixed rate without fully reapplying as a new borrower elsewhere. However, it's worth comparing BDO's internal offer against other banks before committing, since external lenders sometimes offer more competitive rates or better terms. Nook can show you both options side by side at no cost to you.
Standard requirements include a valid government-issued ID, proof of income (payslips and ITR for employed borrowers, audited financial statements for self-employed), a copy of your existing loan statement of account, and the title and tax declaration of the mortgaged property. BDO may also require a statement of account showing your current outstanding balance and payment history. Nook provides a complete checklist once you start your application.
BDO's typical approval timeline is around 30 days from complete document submission, though this can vary depending on property location, title status, and appraisal scheduling. End-to-end, including the release of proceeds and cancellation of the old mortgage, the full process often takes 60 to 90 days. Starting early — especially if your fixed-rate lock-in period is ending soon — gives you the most flexibility.
Yes, refinancing involves one-time costs such as appraisal fees, notarial fees, registration fees, and in some cases a cancellation fee on your existing mortgage. If you are still within a lock-in period with your current lender, an early repayment penalty may also apply — typically 1% to 2% of the outstanding balance. Nook will help you calculate your net savings after fees so you can see whether refinancing makes financial sense right now.
Yes, Nook's mortgage brokering service is 100% free to the borrower. Nook is compensated by the lending bank if your loan is successfully processed, which means you get full broker support — document guidance, bank comparison, and application assistance — without paying anything extra. You will never be charged a fee by Nook for using the platform.
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