BDO vs EastWest Bank: Home Loan Rate Comparison
Both BDO Unibank and EastWest Bank are Nook partner banks, meaning Filipino homeowners can apply to either — or both — through Nook's free digital mortgage broker service. Below is a detailed side-by-side breakdown of their home loan offerings as of 2025. Note that interest rates are subject to change; always verify current rates directly with the bank or through Nook before making a decision.
| Feature | BDO Unibank | EastWest Bank |
|---|---|---|
| 1-Year Fixed Rate | 6.00% p.a. | 5.99% p.a. |
| 3-Year Fixed Rate | Not published | 6.25% p.a. |
| 5-Year Fixed Rate | Not published | 6.49% p.a. |
| 7-Year Fixed Rate | Not published | 7.00% p.a. |
| Home Equity Rate | 6.00% p.a. | 6.25% p.a. |
| Min Monthly Income | 50,000 | 40,000 |
| Max DTI Ratio | 40% | 40% |
| Typical Approval Time | 30 days | 19 days |
| Nook Partner Bank | Yes | Yes |
How Much Could You Save by Refinancing?
Most Filipino homeowners are currently paying between 7% and 10% p.a. on their home loans. Refinancing to either BDO or EastWest Bank through Nook could result in significant monthly and lifetime savings. Here's a realistic example:
Scenario: Outstanding loan balance of 3,000,000 with 20 years remaining.
- At 8.50% (current rate): Estimated monthly payment of approximately 26,100
- At 5.99% via EastWest Bank: Estimated monthly payment of approximately 21,500
- At 6.00% via BDO: Estimated monthly payment of approximately 21,530
- Monthly savings vs. EastWest: approximately 4,600
- Total savings over 20 years: over 1,100,000
The difference between BDO and EastWest on a 3,000,000 loan amounts to only a few hundred pesos per year — making both excellent refinance options. Your actual savings will depend on your remaining balance, term, and the rate you qualify for.
Eligible Borrower Profiles
Both banks accept a wide range of employment types, making them accessible to most Filipino homeowners looking to refinance.
| Employment Type | BDO Unibank | EastWest Bank |
|---|---|---|
| Private Employee | ✓ | ✓ |
| Government Employee | ✓ | ✓ |
| BPO Worker | ✓ | ✓ |
| OFW / Seafarer | ✓ | ✓ |
| Self-Employed | ✓ | ✓ |
| Professional | ✓ | ✓ |
EastWest Bank has a notably lower minimum monthly income requirement of 40,000 versus BDO's 50,000, giving it an edge for borrowers with moderate incomes. Both banks share the same 40% maximum debt-to-income ratio, meaning your total monthly loan obligations — including the new home loan — should not exceed 40% of your gross monthly income.
Loan Purposes: What Can Each Bank Finance?
Both BDO and EastWest Bank support a broad range of loan purposes, including refinancing, which is Nook's primary focus.
| Loan Purpose | BDO Unibank | EastWest Bank |
|---|---|---|
| Refinancing | ✓ | ✓ |
| Home Equity / Cash Out | ✓ | ✓ |
| Ready For Occupancy (RFO) | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ |
| New Construction | ✓ | ✓ |
| Renovation | ✓ | ✓ |
| Reselling / Resale | ✓ | ✓ |
| Foreclosed Properties | ✓ | ✓ |
EastWest Bank also explicitly supports new construction and pre-selling projects, making it a versatile option for borrowers not just refinancing but also purchasing property. For a broader comparison of BDO against other lenders, see our BDO vs Security Bank home loan comparison.
Approval Speed: EastWest Bank is Faster
One of the clearest differences between the two banks is processing speed. EastWest Bank typically approves home loan applications in approximately 19 days, while BDO's typical approval timeline is around 30 days — a difference of nearly two weeks.
For homeowners who are refinancing urgently (for example, before a balloon payment kicks in or a fixed-rate period ends), EastWest Bank's faster processing could be a meaningful advantage. Through Nook's digital platform, document submission and tracking are streamlined for both banks, helping you avoid unnecessary delays regardless of which lender you choose.
Fixed Rate Flexibility: EastWest Bank Offers More Options
BDO publishes a 1-year fixed rate for refinancing, while EastWest Bank offers a broader menu of fixed-rate periods: 1-year, 3-year, 5-year, and 7-year options. This is a significant advantage for borrowers who want rate certainty over a longer horizon.
If you prefer knowing exactly what your monthly payment will be for the next five years — without worrying about repricing risk — EastWest Bank's 5-year fixed rate of 6.49% p.a. or 7-year fixed rate of 7.00% p.a. may be worth the slightly higher initial cost compared to a 1-year fixed deal. Borrowers who are comfortable repricing annually may find BDO's 6.00% 1-year fixed rate equally competitive.
If you're also evaluating government-backed lending options alongside private banks, our BDO vs Landbank home loan comparison covers how BDO stacks up against a state-run lender.
Why Apply Through Nook Instead of Going Directly?
Nook is the Philippines' first digital mortgage broker, and its service is completely free to borrowers. Here's what you get when you apply through Nook instead of walking into a bank branch:
- Compare multiple banks at once: Submit one application and let BDO, EastWest Bank, and other Nook partner banks compete for your business.
- Expert guidance: Nook's mortgage specialists help you understand your options and choose the right loan structure.
- Faster processing: Nook's digital document submission reduces back-and-forth with bank staff.
- Zero broker fee: Nook is paid by the banks, not by you. There is no cost to apply.
Whether BDO or EastWest Bank turns out to be the better fit for your situation, Nook gives you the information and access to make a confident decision — without the legwork of visiting multiple branches.
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Compare My Options →Frequently Asked Questions
Which has a lower home loan rate — BDO or EastWest Bank?
EastWest Bank currently offers a slightly lower 1-year fixed rate of 5.99% p.a. compared to BDO's 6.00% p.a. The difference is minimal on a 1-year basis, but EastWest Bank also provides longer fixed-rate options (3-year, 5-year, and 7-year), giving borrowers more flexibility. Rates are subject to change, so verify the latest figures through Nook or directly with each bank.
Which bank approves home loans faster — BDO or EastWest Bank?
EastWest Bank is faster, with a typical approval time of around 19 days. BDO typically takes around 30 days. If speed is important — for example, if you have a repricing deadline coming up — EastWest Bank may be the better choice. Applying through Nook can also help streamline the process for either bank.
What is the minimum monthly income required for each bank?
BDO requires a minimum monthly income of 50,000, while EastWest Bank's minimum is 40,000. If your household income is between 40,000 and 49,999 per month, EastWest Bank may be the only one of the two you qualify for. Both banks apply a maximum debt-to-income ratio of 40%.
Can I apply to both BDO and EastWest Bank at the same time?
Yes. Through Nook, you can submit a single application and have it evaluated by multiple partner banks simultaneously, including both BDO and EastWest Bank. This saves time and lets you compare actual offers side by side before committing. Nook's service is completely free to borrowers.
Does EastWest Bank offer longer fixed-rate periods than BDO for home loans?
Yes. EastWest Bank offers 1-year, 3-year, 5-year, and 7-year fixed-rate options. BDO publishes a 1-year fixed rate for refinancing. If you want rate certainty for five or more years, EastWest Bank currently offers more choices. Rates for longer fixed periods are higher — for example, EastWest's 5-year fixed is 6.49% p.a. and 7-year fixed is 7.00% p.a.
Is Nook's service really free? How does it make money?
Yes, Nook's mortgage broker service is 100% free to the borrower. Nook is compensated by the banks when a loan is successfully facilitated — this is the same model used by mortgage brokers worldwide. You pay nothing extra, and the rate you get through Nook is the same as or better than what you would get going directly to the bank.
Which bank is better for home equity loans — BDO or EastWest Bank?
BDO offers a home equity rate of 6.00% p.a., while EastWest Bank's home equity rate is 6.25% p.a. For borrowers looking to unlock equity from their property, BDO has the edge on home equity pricing. Both banks support home equity as an approved loan purpose.