Interest Rate Comparison
BDO Unibank (Nook Partner)
- 1-Year Fixed Rate: 6.00%
- Home Equity Rate: 6.00%
- Verified rates through Nook partnership
- No broker fees - Nook service is 100% free
Metrobank
- Standard Rates: Approximately 7-10%
- Rates vary by loan type and borrower profile
- Subject to bank's current pricing
- Direct application required
Note: Metrobank rates shown are approximate based on publicly available information and subject to change. BDO rates are verified through Nook's partnership.
Loan Requirements Comparison
| Requirement | BDO (via Nook) | Metrobank |
|---|---|---|
| Minimum Monthly Income | ₱50,000 | Varies by branch, typically ₱75,000+ |
| Maximum Debt-to-Income | 40% | Usually 30-35% |
| Employment Types | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government (limited self-employed) |
| Processing Time | 30 days typical | 45-60 days typical |
Loan Purposes Supported
BDO (via Nook)
- Home Equity
- Foreclosed Properties
- New Construction
- Pre-Selling
- Ready For Occupancy (RFO)
- Renovation
- Reselling
Metrobank
- Home Purchase
- Home Construction
- Home Improvement
- Lot Purchase
- Refinancing (limited programs)
Potential Monthly Savings
For a ₱3,000,000 loan over 20 years:
BDO at 6.00%
Monthly Payment: 21,492
Metrobank at 8.00% (estimated)
Monthly Payment: 25,092
Potential Monthly Savings: 3,600
Total Interest Savings: 864,000 over loan term
These calculations demonstrate the significant long-term impact of securing a lower interest rate through BDO's competitive refinancing options.
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Compare My Options →Frequently Asked Questions
Is BDO really better than Metrobank for housing loan takeouts?
Yes, BDO offers significantly better rates at 6.00% through Nook's partnership, compared to Metrobank's typical 7-10% range. BDO also has more accessible income requirements and faster processing times.
What's the minimum income requirement for BDO vs Metrobank takeout loans?
BDO requires a minimum monthly income of ₱50,000 when applying through Nook, while Metrobank typically requires ₱75,000 or higher depending on the branch and loan amount.
How much can I save by choosing BDO over Metrobank for refinancing?
On a ₱3,000,000 loan, you could save approximately ₱3,600 monthly and ₱864,000 in total interest over 20 years by choosing BDO's 6.00% rate instead of an estimated 8.00% from Metrobank.
Can I apply for both BDO and Metrobank takeout loans simultaneously?
Yes, you can apply to multiple banks to compare actual offers. However, applying through Nook for BDO gives you verified rates and free broker service, streamlining the process significantly.
Which bank processes takeout loans faster - BDO or Metrobank?
BDO typically processes applications in 30 days when applied through Nook, while Metrobank usually takes 45-60 days. The Nook partnership also provides dedicated support to expedite your application.
Are there any fees for using Nook's service with BDO?
No, Nook's mortgage broker service is completely free for borrowers. You get access to BDO's competitive 6.00% rates plus expert guidance throughout the refinancing process at no cost.