How We Compared Home Loan Rates Across Philippine Banks in 2026
This comparison covers the 14 major banks and lending institutions active in the Philippine home loan market as of 2026: BDO, BPI, Metrobank, Security Bank, RCBC, PNB, UnionBank, Chinabank, PSBank, Robinsons Bank, EastWest Bank, UCPB, Landbank, and Pag-IBIG (HDMF). We evaluated each lender on advertised interest rates, fixing period options, repricing terms, loan-to-value limits, minimum and maximum loan amounts, processing speed, and overall borrower experience. Where possible, we used a benchmark loan of ₱5,000,000 over 20 years to keep monthly payment comparisons consistent.
For a deeper head-to-head analysis of two of the most popular lenders, see our BPI vs Metrobank home loan comparison.
2026 Home Loan Rate Snapshot: All Major Philippine Banks
| Bank | 1-Year Fixed | 3-Year Fixed | 5-Year Fixed | Max LTV | Min Loan Amount |
|---|---|---|---|---|---|
| BDO | 6.50% | 7.00% | 7.50% | 80% | 1,000,000 |
| BPI | 6.25% | 6.75% | 7.25% | 80% | 800,000 |
| Metrobank | 6.50% | 7.00% | 7.50% | 80% | 1,000,000 |
| Security Bank | 6.25% | 6.75% | 7.25% | 80% | 1,000,000 |
| RCBC | 6.50% | 7.00% | 7.50% | 80% | 1,000,000 |
| PNB | 6.75% | 7.25% | 7.75% | 80% | 500,000 |
| UnionBank | 6.50% | 7.00% | 7.50% | 80% | 1,000,000 |
| Chinabank | 6.75% | 7.25% | 7.75% | 75% | 1,000,000 |
| PSBank | 7.00% | 7.50% | 8.00% | 80% | 500,000 |
| Robinsons Bank | 7.25% | 7.75% | 8.25% | 80% | 500,000 |
| EastWest Bank | 7.25% | 7.75% | 8.25% | 80% | 1,000,000 |
| Landbank | 6.50% | 7.00% | 7.50% | 80% | 500,000 |
| Pag-IBIG (HDMF) | 5.75% | 6.50% | 7.50% | 90% | 100,000 |
| Nook Best Rate | 5.99% | — | — | 80% | 1,000,000 |
Rates are indicative as of 2026 and subject to change based on borrower profile, property type, and loan amount. All rates are per annum.
What Does a 1% Rate Difference Actually Cost You?
Many borrowers underestimate the real-peso impact of even a small difference in interest rate. On a ₱5,000,000 home loan over 20 years, here is how total interest paid changes at different rates:
| Interest Rate | Monthly Payment (est.) | Total Interest Paid (20 yrs) | Difference vs 5.99% |
|---|---|---|---|
| 5.99% | 35,793 | 3,590,320 | — |
| 7.00% | 38,765 | 4,303,600 | 713,280 more |
| 8.00% | 41,822 | 5,037,280 | 1,446,960 more |
| 9.00% | 44,986 | 5,796,640 | 2,206,320 more |
| 10.00% | 48,251 | 6,580,240 | 2,989,920 more |
If you are currently on a 8% rate and refinance to 5.99%, you save approximately 2,083 per month — or roughly 499,920 over the remaining 20 years of your loan. That is money that stays in your pocket simply by switching banks.
BDO Home Loan Rates 2026
BDO Unibank is the Philippines' largest bank by assets and one of the most popular choices for home loans, particularly among salaried employees who already bank with BDO. BDO offers fixed rate periods of 1, 2, 3, 5, 10, and 15 years, after which the loan reprices to the prevailing BDO rate. Their 1-year fixed rate sits at approximately 6.50% p.a. in 2026, rising to around 7.50% for a 5-year fix.
BDO strengths: Wide branch and ATM network, existing payroll account holders may qualify for preferential rates, accepts a broad range of property types including condominiums and house-and-lot. BDO weaknesses: Rates are not always the lowest in the market, processing can be slower than digital-forward competitors, and repricing rates post-fixing period can be high.
Best for: Existing BDO account holders, borrowers who value branch access and in-person service, and those buying properties in areas where BDO has strong appraiser relationships.
BPI Home Loan Rates 2026
Bank of the Philippine Islands (BPI) is consistently one of the most competitive banks for home loan rates in the Philippines, frequently offering rates at or near the lowest in the market. BPI's 1-year fixed rate is approximately 6.25% p.a. in 2026, with a 5-year fix around 7.25%. BPI also offers one of the more seamless digital application experiences among traditional banks.
BPI strengths: Competitive rates, strong digital banking platform, relatively fast processing for complete applications, good customer service reputation for home loans. BPI weaknesses: Can be strict on credit assessment, appraisal values are sometimes conservative, and turnaround times vary by branch.
Best for: Borrowers with strong credit profiles, existing BPI account holders, and those who want a balance of competitive rates and digital convenience. For a direct comparison of BPI against its closest competitor, read our UnionBank vs BPI home loan interest rates comparison.
Metrobank Home Loan Rates 2026
Metrobank is one of the Big Three Philippine banks and a strong option for home loan borrowers, particularly those purchasing properties in Metro Manila and key provincial cities. Metrobank's rates are broadly in line with BDO at approximately 6.50% for a 1-year fix and 7.50% for a 5-year fix in 2026. Metrobank is known for being flexible on certain property types that other banks may decline.
Metrobank strengths: Flexible on property types, competitive rates for longer fixing periods, strong presence in both Metro Manila and provincial markets. Metrobank weaknesses: Application process can be documentation-heavy, processing times are sometimes slow, and repricing communication could be more proactive.
Best for: Borrowers purchasing properties in areas well-covered by Metrobank appraisers, and those who value flexibility on property type assessment.
Security Bank Home Loan Rates 2026
Security Bank has become one of the more borrower-friendly options in the Philippine home loan market, with competitive rates and a growing reputation for faster processing. Their 1-year fixed rate is approximately 6.25% p.a. in 2026 — on par with BPI — making them one of the most rate-competitive traditional banks. Security Bank also offers a notable "no income document" option for qualifying borrowers, which can simplify the application process for self-employed individuals.
Security Bank strengths: Competitive rates, faster-than-average processing, flexible income documentation options, good for self-employed borrowers. Security Bank weaknesses: Smaller branch network than BDO or BPI, appraisal coverage outside Metro Manila can be limited.
Best for: Self-employed borrowers, those seeking competitive rates without the branch network premium, and refinancers in Metro Manila and key cities.
RCBC Home Loan Rates 2026
Rizal Commercial Banking Corporation (RCBC) offers home loan rates broadly competitive with the mid-tier of the market, sitting at approximately 6.50% for a 1-year fix in 2026. RCBC is a solid choice for borrowers who may not qualify at the top-tier banks and is known for being relatively flexible on borrower assessment criteria. For a direct comparison, see how UnionBank and RCBC stack up on home loan rates.
RCBC strengths: More flexible credit assessment, competitive rates for its tier, solid digital banking infrastructure. RCBC weaknesses: Not the absolute lowest rates in the market, appraisal coverage outside major cities can be a challenge.
Best for: Borrowers who have been declined by top-tier banks, those with non-traditional income sources, and refinancers looking for a competitive alternative.
PNB Home Loan Rates 2026
Philippine National Bank (PNB) is a government-affiliated bank with a broad provincial presence, making it a strong option for borrowers outside Metro Manila. PNB's rates are slightly above the market leaders at approximately 6.75% for a 1-year fix in 2026, but their accessibility in provincial areas often makes them the practical best choice for many borrowers outside the capital.
PNB strengths: Strong provincial presence, government-affiliated stability, accepts a wide range of property types and locations. PNB weaknesses: Rates are not market-leading, application process can be slower and more manual, digital banking experience lags behind private banks.
Best for: Borrowers in provincial areas where other banks have limited presence, OFW borrowers (PNB has strong OFW services), and those purchasing agricultural or rural properties.
UnionBank Home Loan Rates 2026
UnionBank has aggressively positioned itself as the digital-first Philippine bank, and its home loan product reflects this — offering a largely online application process and competitive rates at approximately 6.50% for a 1-year fix in 2026. UnionBank is one of the fastest processors for complete applications among Philippine banks.
UnionBank strengths: Fully digital application, fast processing, competitive rates, strong fintech integrations. UnionBank weaknesses: Limited physical branch support for complex queries, appraisal coverage outside Metro Manila is still expanding.
Best for: Tech-savvy borrowers who want a smooth digital experience, Metro Manila borrowers, and those who want fast turnaround on their application.
Pag-IBIG (HDMF) Home Loan Rates 2026
Pag-IBIG Fund (HDMF) is in a category of its own: as the government's primary housing finance institution, it offers the lowest base rates available in the Philippine market — as low as 5.75% p.a. for a 1-year fix — and allows loan-to-value ratios up to 90%, the highest in the market. However, Pag-IBIG loans come with significant eligibility requirements: borrowers must be active Pag-IBIG members with sufficient contributions, and maximum loan amounts are capped (currently up to 6,000,000 for standard loans, higher for select programs).
Pag-IBIG strengths: Lowest rates in the market, highest LTV ratio, government-backed stability, accessible to a broad range of Filipino workers. Pag-IBIG weaknesses: Loan amount caps, strict membership and contribution requirements, slower processing than private banks, less flexible on property types in some cases.
Best for: First-time homebuyers, lower-to-middle income borrowers, those whose loan requirement fits within the Pag-IBIG cap, and active government or private sector employees with consistent Pag-IBIG contributions.
How to Get the Best Home Loan Rate in the Philippines
Getting the best rate is not just about finding the bank with the lowest advertised number — it requires understanding how to position your application, knowing which banks are most competitive for your specific profile, and negotiating effectively. Here are the key factors that determine the rate you are actually offered:
- Loan-to-value (LTV) ratio: The lower your LTV — meaning the larger your down payment relative to the property value — the lower the rate you will typically be offered. Banks view lower LTV loans as less risky.
- Credit history: A clean credit record with no late payments significantly improves the rate you can access. Banks check your credit bureau record as part of every home loan application.
- Income stability: Salaried employees at established companies generally receive more competitive offers than self-employed borrowers, though banks like Security Bank have specific products designed for the self-employed.
- Existing banking relationship: Borrowers who already hold savings, payroll, or investment accounts with a bank sometimes receive preferential rates. It is always worth asking your primary bank for a relationship rate.
- Loan amount: Larger loans sometimes attract slightly better rates, as the economics are more favourable for the bank on a per-transaction basis.
- Fixing period: Shorter fixing periods (1-2 years) typically have lower headline rates than longer ones (5-10 years), but carry repricing risk. Choose based on your risk tolerance and expectations for future rate movements.
The single most effective thing you can do is apply to multiple banks at the same time and let them compete for your business. This is exactly what Nook does on your behalf — at no cost to you. For a comprehensive guide on choosing the right bank, see our 2026 home loan Philippines bank comparison.
Should You Refinance Your Home Loan in 2026?
If your current home loan rate is above 7% — which describes the majority of Filipino homeowners — refinancing in 2026 is almost certainly worth exploring. The break-even calculation is straightforward: most refinancing costs (appraisal, documentation, registration) total between 30,000 and 80,000 pesos. If refinancing saves you 2,000 to 4,000 pesos per month, you recover those costs within 1 to 3 years and save every peso after that.
The best time to refinance is 3 to 6 months before your current fixing period ends, when you can move to a new bank without paying early repayment penalties. If you are already on a floating rate, you can refinance at any time without penalty at most banks.
Nook's refinancing service is 100% free to the borrower. We submit your application to multiple banks simultaneously, handle all paperwork coordination, and present you with the best offer available for your profile. The best refinance rate currently available through Nook is 5.99% p.a.
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Compare My Options →Frequently Asked Questions
What is the best home loan rate in the Philippines in 2026?
The best home loan rate currently available in the Philippines is 5.99% p.a., accessible through Nook's free digital mortgage broker service. Among individual banks, BPI and Security Bank are among the most competitive at approximately 6.25% for a 1-year fixed rate, while Pag-IBIG offers rates from 5.75% for eligible members. Most borrowers currently pay between 7% and 10%, meaning significant savings are available to those who shop around or refinance.
Which Philippine bank has the lowest home loan interest rate?
Among government institutions, Pag-IBIG (HDMF) offers the lowest rates — from 5.75% p.a. — but eligibility is restricted to active members and loan amounts are capped. Among private banks, BPI and Security Bank are consistently among the most competitive, with 1-year fixed rates around 6.25% p.a. in 2026. However, the lowest rate available to any individual borrower depends on their specific profile, property, and loan amount. Nook compares rates across all major banks to find your actual best offer.
How do I compare home loan rates across Philippine banks?
To compare home loan rates effectively, you should look at the effective interest rate for your preferred fixing period (not just the headline rate), the total cost of borrowing over your loan term, the repricing terms after your fixed period ends, and any fees such as appraisal, processing, and early repayment charges. The easiest way to compare across all major banks at once is to apply through Nook, which is a free service that submits your details to multiple banks and returns the best available offers for your profile.
What is the difference between a fixed rate and a floating rate home loan in the Philippines?
A fixed rate home loan locks your interest rate for a set period — typically 1, 2, 3, 5, 10, or 15 years — giving you payment certainty for that duration. After the fixed period ends, the loan typically reprices to the bank's prevailing rate, which could be higher or lower. A floating rate loan moves with the bank's benchmark rate and can change periodically, offering potential savings when rates fall but carrying the risk of payment increases when rates rise. Most Philippine homebuyers choose fixed rate loans for the predictability they offer.
Is it worth refinancing my home loan in the Philippines?
For most borrowers currently on rates above 7%, refinancing is worth exploring seriously. On a ₱5,000,000 loan, the difference between 8% and 5.99% is approximately 2,029 pesos per month — or roughly 487,000 pesos over 20 years. Refinancing costs (appraisal, documentation, transfer fees) typically range from 30,000 to 80,000 pesos, meaning most borrowers recover their costs within 1 to 3 years and save every peso thereafter. Nook's refinancing service is completely free to borrowers.
What documents do I need for a home loan application in the Philippines?
Standard home loan application documents in the Philippines include: a completed application form, one valid government-issued ID, proof of income (latest payslips for salaried employees, or ITR and financial statements for self-employed), proof of billing address, marriage certificate (if applicable), and property documents including the Transfer Certificate of Title (TCT), tax declaration, and contract to sell or deed of absolute sale. Banks may require additional documents depending on the property type and borrower profile. Nook helps you prepare and submit the correct documents for each bank.
How long does it take to get a home loan approved in the Philippines?
Home loan processing times in the Philippines vary significantly by bank. Digital-forward lenders like UnionBank can process complete applications in as little as 5 to 7 business days. Traditional banks like BDO and Metrobank typically take 2 to 4 weeks for full approval. PNB and government banks like Landbank may take 4 to 8 weeks. Delays most commonly occur due to incomplete documentation, slow property appraisals, or additional credit verification requirements. Applying through Nook helps speed up the process by ensuring your application is complete and correctly formatted for each bank's requirements.
Can an OFW apply for a home loan in the Philippines?
Yes, OFWs (Overseas Filipino Workers) can apply for home loans in the Philippines, and several banks have specific OFW home loan programs. PNB is particularly well-known for its OFW banking services and home loan products. BDO, BPI, and Metrobank also accept OFW applications, typically requiring proof of employment abroad (POEA certification or employment contract), remittance records as proof of income, and an authorized representative or Special Power of Attorney (SPA) for the local processing. Pag-IBIG also has an OFW membership and loan program. Nook can help OFWs identify which banks are most likely to approve their application and at the best available rate.