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 a straightforward 6.00% rate across both 1-year fixed and home equity products, providing 0.70 percentage points advantage over BPI's 1-year fixed rate. However, BPI's 5-year fixed option at 6.50% offers better long-term rate protection for just 0.50 percentage points more than BDO's rate.
Monthly Payment Comparison
For a 3,000,000 loan over 20 years:
BDO (6.00%)
21,492
Total Interest: 2,158,080
BPI 1-Year Fixed (6.70%)
22,597
Total Interest: 2,423,280
BPI 5-Year Fixed (6.50%)
22,265
Total Interest: 2,343,600
BDO's rate advantage translates to monthly savings of 1,105 compared to BPI's 1-year fixed rate, totaling 265,200 in interest savings over 20 years.
Income Requirements
BDO Requirements
- Minimum Income: 50,000/month
- Max Debt-to-Income: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
BPI Requirements
- Minimum Income: 40,000/month
- Max Debt-to-Income: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
BPI has a more accessible 40,000 minimum monthly income requirement, 10,000 lower than BDO's 50,000 threshold. Both banks maintain the same 40% debt-to-income ratio limit and accept diverse employment types including OFWs and self-employed borrowers.
Processing Time & Approval
BDO Processing
- Typical Approval: 30 days
- Documentation: Standard bank requirements
- Nook Advantage: Free broker service streamlines application
BPI Processing
- Typical Approval: 52 days
- Documentation: Comprehensive review process
- Nook Advantage: Free broker service expedites submission
BDO significantly outperforms in processing speed with 30-day approvals compared to BPI's 52-day timeline. This 22-day advantage makes BDO ideal for borrowers needing faster refinancing completion. Both banks benefit from Nook's free broker service to streamline applications.
Loan Purpose Flexibility
BDO Loan Purposes
- Home Equity
- Foreclosed Properties
- New Construction
- Pre-Selling
- Ready For Occupancy (RFO)
- Renovation
- Reselling
BPI Loan Purposes
- Foreclosed Properties
- Home Equity
- New Construction
- Pre-Selling
- Ready For Occupancy (RFO)
- Refinancing
- Renovation
- Reselling
Both banks offer comprehensive loan purpose options covering most homebuyer needs. BPI explicitly includes refinancing in their loan purposes, while BDO covers similar ground through their home equity products. Use our housing loan calculator to compare potential savings across different loan amounts and terms.
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Compare My Options →Frequently Asked Questions
Which bank has better interest rates between BDO and BPI?
BDO offers better rates at 6.00% for both 1-year fixed and home equity loans, compared to BPI's 6.70% for 1-year fixed. However, BPI's 5-year fixed rate at 6.50% provides better long-term rate protection than BDO's options.
What are the minimum income requirements for BDO vs BPI housing loans?
BPI has more accessible income requirements at 40,000 per month, while BDO requires 50,000 monthly income. Both banks maintain a maximum 40% debt-to-income ratio and accept various employment types including OFWs and self-employed borrowers.
How long does loan approval take for BDO vs BPI?
BDO processes loans significantly faster with typical 30-day approval times, while BPI takes around 52 days. BDO's 22-day advantage makes it better for borrowers needing quick refinancing completion.
Can I refinance my existing home loan with either BDO or BPI?
Yes, both BDO and BPI accept refinancing applications. BPI explicitly lists refinancing as a loan purpose, while BDO handles refinancing through their home equity loan products. Both banks are Nook partner institutions offering competitive refinancing rates.
What's the monthly payment difference between BDO and BPI rates?
For a 3,000,000 loan over 20 years, BDO's 6.00% rate results in monthly payments of 21,492, while BPI's 6.70% rate costs 22,597 monthly. This represents 1,105 in monthly savings and 265,200 in total interest savings with BDO.
Do both BDO and BPI work with Nook for free broker services?
Yes, both BDO Unibank and BPI Family Savings Bank are verified Nook partner banks. Borrowers can access both banks' competitive rates through Nook's free broker service, with no fees or charges to the borrower.