Interest Rates Comparison
BDO Unibank (Nook Partner)
- 1-Year Fixed Rate: 6.00%
- Home Equity Rate: 6.00%
- Rate Type: Promotional fixed rate
Metrobank
- Standard Rates: 7.5% - 9.0% (approximate)
- Rate Type: Variable rates based on creditworthiness
- Note: Rates shown are approximate based on publicly available information
Monthly Payment Comparison (₱5,000,000 loan, 20 years)
| Bank | Rate | Monthly Payment | Monthly Savings vs Metrobank |
|---|---|---|---|
| BDO (via Nook) | 6.00% | 35,846 | Up to 6,234 |
| Metrobank | 8.5% (est.) | 42,080 | - |
Application Requirements
BDO Requirements
- Minimum Monthly Income: ₱50,000
- Maximum DTI: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
- Loan Purposes: Home Equity, Foreclosed, New Construction, Pre-Selling, RFO, Renovation, Reselling
Metrobank Requirements
- Minimum Monthly Income: ₱50,000 - ₱80,000 (varies by product)
- Maximum DTI: 35% - 40%
- Employment Types: Regular employees, professionals, OFWs
- Additional: Stricter documentation requirements
Processing Time & Fees
BDO via Nook
- Typical Approval: 30 days
- Nook Service: 100% Free broker assistance
- Application Support: Dedicated loan specialist
- Rate Guarantee: Verified partner bank rates
Metrobank Direct
- Processing Time: 45-60 days
- Application Process: Direct bank application
- Documentation: Extensive paperwork required
- Rate Negotiation: Limited flexibility
When comparing these options, consider that BDO consistently offers competitive rates across different loan products, making it an attractive choice for refinancing.
Loan Products Available
BDO Loan Products
- Home Equity Loans
- Foreclosed Property Financing
- New Construction Loans
- Pre-Selling Unit Financing
- Ready For Occupancy (RFO)
- Home Renovation Loans
- Reselling Property Loans
Metrobank Loan Products
- Standard Home Loans
- Home Equity Loans
- Construction Loans
- Lot Loans
- Refinancing Products
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Compare My Options →Frequently Asked Questions
What's the difference between BDO and Metrobank refinance rates?
BDO offers a competitive 6.00% fixed rate through Nook's partner program, while Metrobank's rates typically range from 7.5% to 9.0%. This difference can result in monthly savings of ₱3,000 to ₱6,000 on a ₱5 million loan.
Which bank has faster loan processing for refinancing?
BDO typically processes refinance applications within 30 days when applied through Nook, compared to Metrobank's 45-60 day processing timeline. BDO's streamlined process and partnership with Nook enables quicker approvals.
What are the minimum income requirements for each bank?
BDO requires a minimum monthly income of ₱50,000, while Metrobank's requirements vary from ₱50,000 to ₱80,000 depending on the loan product. BDO also accepts a wider range of employment types including BPO workers and self-employed individuals.
Can I apply for both BDO and Metrobank refinancing simultaneously?
Yes, you can apply to multiple banks to compare actual offers. However, multiple credit inquiries may temporarily affect your credit score. Using Nook's free service allows you to compare pre-qualified rates from partner banks like BDO without multiple hard inquiries.
Are there any hidden fees when refinancing with BDO vs Metrobank?
Both banks charge standard refinancing fees including processing fees, appraisal costs, and legal fees. BDO's partnership with Nook provides transparency in fee structure upfront. Always request a detailed fee breakdown before proceeding with any refinancing application.
What's the maximum loan amount for refinancing with each bank?
Both BDO and Metrobank can handle large refinancing amounts, typically up to ₱50 million for qualified borrowers. The actual approved amount depends on your income, existing debt, property value, and debt-to-income ratio. BDO's 40% maximum DTI provides more flexibility than some competitors.