Interest Rates Comparison
BDO Unibank
1-Year Fixed & Home Equity
Save up to ₱358,000 over 20 years vs 8% current rate
UnionBank
1-Year Fixed & Home Equity
Save up to ₱239,000 over 20 years vs 8% current rate
Loan Requirements Breakdown
| Requirement | BDO | UnionBank |
|---|---|---|
| Minimum Monthly Income | ₱50,000 | ₱30,000 ✓ |
| Maximum Debt-to-Income | 40% | 50% ✓ |
| Processing Time | 30 days | Standard processing |
| Employment Types | Private, Government, BPO, OFW, Self-Employed, Professional | Private, Government, BPO, OFW, Self-Employed, Professional |
Monthly Payment Calculator
For a ₱3,000,000 loan over 20 years:
- BDO at 6.00%: Monthly payment of ₱21,492 (Total interest: ₱2,158,080)
- UnionBank at 7.00%: Monthly payment of ₱23,263 (Total interest: ₱2,583,120)
- Monthly difference: ₱1,771 more with UnionBank
- Total interest difference: ₱425,040 more with UnionBank over 20 years
Loan Purpose Flexibility
Both banks support comprehensive refinancing needs including:
- Home Equity loans
- Foreclosed property financing
- New construction projects
- Pre-selling and RFO properties
- Renovation financing
- Property reselling
This makes both excellent choices for various refinancing scenarios, similar to other competitive options like BDO vs Security Bank comparisons.
Why Choose Nook for Your Refinancing
Apply to both BDO and UnionBank through Nook's platform to:
- Compare personalized rate quotes from both banks
- Get expert guidance on which bank fits your profile better
- Access our 100% free broker service
- Streamline your application process
- Maximize your savings potential
*Interest rates are subject to change and borrowers should verify current rates. Individual loan terms may vary based on creditworthiness and other factors.
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Compare My Options →Frequently Asked Questions
Which bank has better interest rates: BDO or UnionBank?
BDO offers better interest rates at 6.00% compared to UnionBank's 7.00% for both 1-year fixed and home equity loans. This 1% difference can save you approximately ₱425,000 over a 20-year ₱3,000,000 loan.
What are the minimum income requirements for BDO vs UnionBank?
UnionBank has more accessible income requirements with a ₱30,000 minimum monthly income compared to BDO's ₱50,000 requirement. UnionBank also allows higher debt-to-income ratios at 50% versus BDO's 40% limit.
How much can I save by refinancing with BDO vs UnionBank?
If you're currently paying 8% interest, you can save ₱358,000 over 20 years by refinancing to BDO's 6.00% rate, or ₱239,000 by refinancing to UnionBank's 7.00% rate on a ₱3,000,000 loan.
Can I apply to both BDO and UnionBank through Nook?
Yes, Nook partners with both BDO and UnionBank, allowing you to compare personalized rate quotes from both banks through our free digital platform. This helps you choose the best option for your specific financial situation.
Which bank processes loans faster: BDO or UnionBank?
BDO typically processes home loan applications within 30 days. Both banks support similar loan purposes including home equity, foreclosed properties, new construction, and renovation financing, making either suitable for various refinancing needs.