Interest Rates Comparison
BDO Unibank Rates
- 1-Year Fixed: 6.00%
- Home Equity: 6.00%
BPI Family Savings Bank Rates
- 1-Year Fixed: 6.70%
- 5-Year Fixed: 6.50%
- Home Equity: 6.70%
BDO offers the more competitive rate at 6.00% across their products, while BPI provides rate options between 6.50% and 6.70%. For a 3,000,000 loan over 20 years, BDO's lower rate could save you approximately 126,000 in total interest compared to BPI's 6.70% option.
Income Requirements
| Bank | Minimum Monthly Income | Maximum DTI Ratio |
|---|---|---|
| BDO Unibank | 50,000 | 40% |
| BPI Family Savings Bank | 40,000 | 40% |
BPI has a more accessible income requirement at 40,000 monthly compared to BDO's 50,000 requirement. This makes BPI potentially available to a broader range of borrowers, though both banks maintain the same 40% debt-to-income ratio limit.
Processing Time & Approval
BDO Unibank
Typical Approval: 30 days
BPI Family Savings Bank
Typical Approval: 52 days
BDO processes applications significantly faster with a 30-day typical approval time compared to BPI's 52 days. If you need quick refinancing approval, BDO's streamlined process gives you an advantage of over 3 weeks.
Employment Type Coverage
Both banks accept applications from:
- Private sector employees
- Government workers
- BPO employees
- OFWs and Seafarers
- Self-employed individuals
- Licensed professionals
There's no difference in employment type acceptance between the two banks, making both accessible to most Filipino borrowers regardless of their work sector.
Loan Purpose Flexibility
BDO Accepted Purposes
- Home Equity
- Foreclosed properties
- New Construction
- Pre-Selling units
- Ready For Occupancy (RFO)
- Renovation
- Reselling
BPI Accepted Purposes
- Foreclosed properties
- Home Equity
- New Construction
- Pre-Selling units
- Ready For Occupancy (RFO)
- Refinancing
- Renovation
- Reselling
BPI explicitly includes "Refinancing" in their loan purposes, making them particularly suitable for existing homeowners looking to refinance. For detailed requirements comparison between these banks, see our comprehensive guide on BDO vs BPI Housing Loan Requirements.
Why Choose Nook for Your Refinancing
Both BDO and BPI are Nook partner banks, which means you get:
- Zero broker fees - Our service is 100% free
- Expert guidance through the application process
- Direct bank relationships for faster processing
- Rate monitoring to ensure you get the best available terms
Note: Interest rates are subject to change and borrowers should verify current rates with their chosen lender.
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Compare My Options →Frequently Asked Questions
Which bank offers better home loan refinancing rates between BDO and BPI?
BDO offers better rates at 6.00% fixed compared to BPI's 6.50-6.70% range. For a 3,000,000 loan, BDO's lower rate could save you approximately 126,000 in total interest over 20 years.
What are the income requirements for BDO vs BPI home loan refinancing?
BPI has more accessible income requirements at 40,000 monthly minimum compared to BDO's 50,000 requirement. Both banks maintain a maximum 40% debt-to-income ratio.
How long does approval take for BDO vs BPI refinancing applications?
BDO processes applications much faster with a typical 30-day approval time compared to BPI's 52 days. BDO gives you over 3 weeks advantage in processing speed.
Can I refinance any type of property with BDO and BPI?
Both banks accept various property types including foreclosed properties, new construction, pre-selling units, RFO properties, and renovations. BPI explicitly lists refinancing as an accepted loan purpose.
Do both BDO and BPI accept OFW and self-employed borrowers for refinancing?
Yes, both banks accept OFWs, seafarers, self-employed individuals, and licensed professionals alongside private and government employees. There's no difference in employment type acceptance between the two banks.
Why should I use Nook to refinance with BDO or BPI instead of applying directly?
Nook's service is 100% free and we're official partners with both banks. You get expert guidance, faster processing through our direct bank relationships, and ongoing rate monitoring without any broker fees.