Interest Rates Comparison
BDO Unibank
1-Year Fixed Rate: 6.00%
Home Equity Rate: 6.00%
Potential monthly savings of P5,000-P8,000 vs current market rates
UnionBank
1-Year Fixed Rate: 7.00%
Home Equity Rate: 7.00%
Still competitive compared to market rates of 8-10%
Eligibility Requirements
| Criteria | BDO Unibank | UnionBank |
|---|---|---|
| Minimum Monthly Income | P50,000 | P30,000 |
| Maximum Debt-to-Income Ratio | 40% | 50% |
| Employment Types | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional |
Loan Purposes Supported
BDO Unibank
- Home Equity
- Foreclosed Properties
- New Construction
- Pre-Selling
- Ready For Occupancy (RFO)
- Renovation
- Reselling
UnionBank
- Foreclosed Properties
- Home Equity
- New Construction
- Pre-Selling
- Ready For Occupancy (RFO)
- Renovation
- Reselling
Processing Time & Service
BDO Unibank
Typical Approval: 30 days
Nook Advantage: Free broker service with dedicated support
UnionBank
Processing: Standard bank timeline
Nook Advantage: Streamlined application process
Savings Calculator Example
For a P5,000,000 loan over 20 years:
| Bank | Rate | Monthly Payment | Total Interest |
|---|---|---|---|
| BDO (6.00%) | 6.00% | P35,809 | P3,594,160 |
| UnionBank (7.00%) | 7.00% | P38,765 | P4,303,600 |
| Monthly Savings with BDO: | P2,956 | P709,440 | |
Through Nook's free refinancing service, you can access these competitive BDO rates without any broker fees.
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Compare My Options →Frequently Asked Questions
Which bank offers better housing loan rates - BDO or UnionBank?
BDO offers better 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 P2,956 monthly on a P5,000,000 loan over 20 years.
What are the income requirements for BDO vs UnionBank housing loans?
BDO requires a minimum monthly income of P50,000 with a maximum 40% debt-to-income ratio. UnionBank is more accessible with a P30,000 minimum income requirement and allows up to 50% debt-to-income ratio, making it easier for lower-income borrowers to qualify.
How long does loan approval take for BDO vs UnionBank?
BDO typically processes applications within 30 days. UnionBank follows standard bank processing timelines. Both banks are Nook partners, so applying through our free broker service can help streamline the process and ensure faster document submission.
Can I refinance my existing loan to BDO or UnionBank through Nook?
Yes, Nook helps Filipino homeowners refinance to both BDO and UnionBank at no cost. Our service is 100% free to borrowers. We'll help you compare rates, prepare documents, and guide you through the entire refinancing process to secure the best available terms.
What loan purposes do BDO and UnionBank support?
Both banks support comprehensive loan purposes including foreclosed properties, home equity, new construction, pre-selling, ready for occupancy (RFO), renovation, and reselling. BDO specifically highlights home equity loans, while both accommodate various property types and employment categories including OFWs and self-employed professionals.
Are BDO and UnionBank rates guaranteed through Nook?
Both BDO and UnionBank are verified Nook partner banks offering competitive rates. While interest rates are subject to change and final approval depends on individual qualifications, Nook's partnership ensures you get access to their best available rates with professional broker support at no additional cost.