Interest Rates Comparison
BDO Unibank
1-Year Fixed & Home Equity
UnionBank
1-Year Fixed & Home Equity
Rate Advantage: BDO offers a full 1% lower interest rate, which translates to significant monthly savings for borrowers.
Monthly Payment Comparison
Here's how much you'd pay monthly on a ₱3,000,000 loan over 20 years:
| Bank | Interest Rate | Monthly Payment | Total Interest |
|---|---|---|---|
| BDO | 6.00% | 21,492 | 2,158,030 |
| UnionBank | 7.00% | 23,265 | 2,583,500 |
| Monthly Savings with BDO | 1,773 | 425,470 | |
Income and Qualification Requirements
BDO Requirements
- Minimum Monthly Income: ₱50,000
- Maximum DTI: 40%
- Typical Approval Time: 30 days
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
UnionBank Requirements
- Minimum Monthly Income: ₱30,000
- Maximum DTI: 50%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
Accessibility Winner: UnionBank is more accessible with 40% lower income requirements and allows higher debt ratios, making it easier for middle-income earners to qualify.
Loan Purposes and Flexibility
Both banks support comprehensive loan purposes:
- Home Equity loans
- Foreclosed property purchases
- New Construction financing
- Pre-Selling and RFO properties
- Renovation loans
- Property reselling
Both BDO and UnionBank are Nook partner banks, meaning you get free broker services, expert guidance, and streamlined application processes when refinancing through our platform.
Which Bank Should You Choose?
Choose BDO if:
- You earn ₱50,000+ monthly
- Your DTI is below 40%
- Minimizing interest costs is your priority
- You want to save ₱1,773 monthly (₱425,470 over 20 years)
Choose UnionBank if:
- Your monthly income is ₱30,000-₱49,999
- Your DTI is between 40-50%
- You need more flexible qualification standards
- Getting approved is more important than the lowest rate
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
What's the interest rate difference between BDO and UnionBank home loans?
BDO offers 6.00% for both 1-year fixed and home equity loans, while UnionBank offers 7.00% for the same loan types. This 1% difference can save you ₱1,773 monthly on a ₱3,000,000 loan.
Which bank has lower income requirements for home loan refinancing?
UnionBank has significantly lower income requirements at ₱30,000 monthly compared to BDO's ₱50,000 minimum. UnionBank also allows higher debt-to-income ratios up to 50% versus BDO's 40% limit.
Can I refinance from either BDO or UnionBank through Nook?
Yes, both BDO and UnionBank are Nook partner banks. You can refinance your existing loan from either bank (or any other lender) to get better rates and terms. Nook's service is completely free to borrowers.
How much can I save by switching from UnionBank to BDO rates?
On a ₱3,000,000 loan over 20 years, switching from UnionBank's 7.00% to BDO's 6.00% rate saves ₱1,773 monthly and ₱425,470 in total interest payments.
Which bank processes home loan applications faster?
BDO typically processes applications within 30 days. UnionBank's processing times vary, but both banks accept the same employment types including private employees, government workers, BPO staff, OFWs, self-employed individuals, and professionals.
Do both banks offer the same types of home loans?
Yes, both BDO and UnionBank offer comprehensive home loan products including home equity loans, foreclosed property financing, new construction loans, pre-selling and RFO property loans, renovation financing, and reselling property loans.