Best Home Loan Rates in the Philippines: 2026 Master Comparison
Shopping for a home loan in the Philippines means navigating a maze of teaser rates, repricing periods, and fine print that varies dramatically from bank to bank. This guide cuts through the noise with a side-by-side breakdown of every major lender — so you can walk into any bank (or let Nook do it for you) with full information.
For deeper two-way comparisons, see our guides on BPI vs Metrobank home loan rates and the complete Philippine bank home loan comparison for 2026.
2026 Home Loan Rate Snapshot: All Major Banks
| Bank | 1-Year Fixed Rate | 3-Year Fixed Rate | 5-Year Fixed Rate | Max Loan-to-Value | Min Loan Amount |
|---|---|---|---|---|---|
| BDO | 7.00% – 7.50% | 7.25% – 7.75% | 7.50% – 8.00% | 80% | ₱500,000 |
| BPI | 6.50% – 7.25% | 6.75% – 7.50% | 7.00% – 7.75% | 80% | ₱400,000 |
| RCBC | 6.25% – 6.75% | 6.50% – 7.00% | 6.75% – 7.25% | 80% | ₱500,000 |
| Security Bank | 6.25% – 6.75% | 6.50% – 7.00% | 6.75% – 7.25% | 85% | ₱1,000,000 |
| Metrobank | 6.75% – 7.25% | 7.00% – 7.50% | 7.25% – 7.75% | 80% | ₱500,000 |
| UnionBank | 7.00% – 7.50% | 7.25% – 7.75% | 7.50% – 8.00% | 80% | ₱1,000,000 |
| PNB | 6.75% – 7.50% | 7.00% – 7.75% | 7.25% – 8.00% | 80% | ₱500,000 |
| Chinabank | 6.75% – 7.25% | 7.00% – 7.50% | 7.25% – 7.75% | 80% | ₱500,000 |
| EastWest Bank | 7.25% – 8.00% | 7.50% – 8.25% | 7.75% – 8.50% | 80% | ₱500,000 |
| PSBank | 7.00% – 7.75% | 7.25% – 8.00% | 7.50% – 8.25% | 80% | ₱500,000 |
| Robinsons Bank | 7.00% – 7.75% | 7.25% – 8.00% | 7.50% – 8.25% | 80% | ₱500,000 |
| Pag-IBIG (HDMF) | 6.375% (fixed 1yr) | 6.375% (fixed 3yr) | 6.500% (fixed 5yr) | 90%+ | ₱100,000 |
| Nook Best Rate | From 5.99% p.a. | Up to 80% | ₱1,500,000 | ||
Rates are indicative ranges as of 2026. Actual rates depend on loan amount, term, property type, and applicant profile. Pag-IBIG rates shown are for Affordable Housing Loan; rates for regular housing loan may vary.
How Much Can You Save by Getting a Lower Rate?
The difference between a 7.50% rate and a 5.99% rate might seem small on paper, but over a 20-year loan the savings are enormous. Here is what the numbers look like on a ₱3,000,000 home loan:
| Interest Rate | Monthly Payment (20-yr term) | Total Interest Paid | Savings vs. 7.50% |
|---|---|---|---|
| 5.99% (Nook best rate) | 21,484 | 2,156,160 | 809,040 |
| 6.50% | 22,378 | 2,370,720 | 594,480 |
| 7.00% | 23,259 | 2,582,160 | 382,640 |
| 7.50% | 24,168 | 2,920,320 | — |
| 8.00% | 25,093 | 3,022,320 | -102,000 (more expensive) |
| 9.00% | 26,992 | 3,478,080 | -557,760 (more expensive) |
| 10.00% | 28,950 | 3,948,000 | -1,027,680 (more expensive) |
On a ₱3,000,000 loan, moving from 7.50% to 5.99% saves you over 809,040 pesos in total interest and reduces your monthly payment by 2,684 pesos. For a ₱5,000,000 or ₱8,000,000 loan, the savings scale proportionally.
BDO Home Loan: Full Review
BDO is the Philippines' largest bank by assets and one of the most popular choices for home loans, largely because of its branch network and brand recognition. However, popularity does not always mean the best rate.
- Rate range: 7.00% – 8.00% depending on fixing period and profile
- Loan term: Up to 25 years
- Max loan-to-value: 80% of appraised value
- Processing fee: Typically 1% of loan amount or ₱10,000, whichever is higher
- Repricing: After fixed period ends, rate moves to BDO's prevailing rate — which has historically been on the higher side
- Best for: Existing BDO account holders who value relationship banking and a large branch network
Nook verdict on BDO: BDO's rates are competitive among big banks but rarely the lowest in the market. If you have an existing BDO relationship, it is worth getting their offer — but always compare it against at least two or three other banks before signing.
BPI Home Loan: Full Review
BPI has positioned itself as a premium home loan lender with a strong digital application process and relatively fast approval timelines. Their rates are generally slightly better than BDO's, making them a top-two choice among the universal banks.
- Rate range: 6.50% – 7.75% depending on fixing period and profile
- Loan term: Up to 20 years
- Max loan-to-value: 80% of appraised value
- Processing fee: Typically ₱5,000 – ₱10,000
- Repricing: Rates reprice after fixed period; BPI's variable rates are competitive
- Best for: Borrowers who value a smooth digital experience and faster processing
Nook verdict on BPI: BPI consistently offers one of the better rates among the Big Three banks. Their digital-first approach makes the process smoother than most. Still, RCBC and Security Bank frequently undercut BPI on headline rates — see our BPI vs Metrobank comparison for a deeper look at how BPI stacks up against its peers.
Security Bank Home Loan: Full Review
Security Bank has emerged as one of the most aggressive competitors in the home loan market, frequently offering the lowest or near-lowest fixed rates among private commercial banks. They also offer a higher maximum LTV of 85%, which is useful for buyers with smaller down payments.
- Rate range: 6.25% – 7.25% depending on fixing period and profile
- Loan term: Up to 25 years
- Max loan-to-value: 85% of appraised value
- Minimum loan: ₱1,000,000
- Best for: Borrowers prioritizing the lowest possible fixed rate from a private bank
Nook verdict on Security Bank: If rate is your primary consideration and you qualify for their minimum loan amount, Security Bank should be on your shortlist. Their 85% LTV is a meaningful advantage for buyers who want to preserve cash.
RCBC Home Loan: Full Review
RCBC is consistently one of the most competitive lenders in the Philippine home loan market. They match or beat Security Bank on rates in many scenarios and have a broad product lineup covering purchase, refinance, and equity take-out.
- Rate range: 6.25% – 7.25% depending on fixing period and profile
- Loan term: Up to 20 years
- Max loan-to-value: 80% of appraised value
- Best for: Borrowers who want aggressive rates and a full-service lender experience
Nook verdict on RCBC: RCBC is one of Nook's top-performing bank partners and frequently the source of the best offer for clients refinancing or purchasing. Worth putting at the top of your comparison list.
Metrobank Home Loan: Full Review
Metrobank sits in the middle of the pack on rates but offers strong service quality and is particularly well-regarded for loan applications involving commercial or mixed-use properties. Their loan officers are experienced with complex transactions.
- Rate range: 6.75% – 7.75% depending on fixing period and profile
- Loan term: Up to 25 years
- Max loan-to-value: 80% of appraised value
- Best for: Buyers of properties with complex ownership structures or those who value service quality
Nook verdict on Metrobank: Metrobank is a solid choice, especially for non-standard properties, but their rates are typically not the lowest in the market. Check them alongside RCBC and Security Bank before deciding.
Pag-IBIG (HDMF) Home Loan: Full Review
Pag-IBIG remains the most accessible home loan option for Filipino workers, especially for properties priced below ₱6,000,000. Their subsidized rates and higher LTV ratios make homeownership possible for borrowers who would not qualify for bank financing.
- Rate range: 3.00% – 10.00% (heavily income and property value dependent; 6.375% – 6.500% for most standard loans)
- Loan term: Up to 30 years
- Max loan-to-value: Up to 90% or higher for affordable housing
- Minimum contribution: 24 months of Pag-IBIG contributions required
- Best for: First-time buyers, OFWs, and those purchasing below ₱6,000,000
Nook verdict on Pag-IBIG: For eligible borrowers, Pag-IBIG's rates can be extremely competitive, especially on the affordable housing tier. The main drawback is slower processing compared to private banks. Note that Nook currently facilitates bank refinancing; for Pag-IBIG-specific guidance, consult HDMF directly.
Should You Get a New Home Loan or Refinance an Existing One?
If you already have a home loan and are paying more than 7% p.a., refinancing is almost certainly worth exploring. The math is straightforward: with rates available as low as 5.99% p.a. through Nook, most homeowners who took out loans in 2020–2023 can reduce their monthly payments significantly.
Here is a quick checklist to know if you should refinance:
- Your current rate is 7.00% or higher — yes, compare now
- You have at least 5 years remaining on your loan — yes, the savings will outweigh switching costs
- Your property has appreciated in value — yes, your LTV may be better now, unlocking lower rates
- You are currently on a variable rate — yes, locking in a fixed rate now protects you from future increases
Nook's refinancing service is 100% free to the borrower. There is no fee to compare, no obligation to proceed, and no cost to switch if you find a better deal.
How Nook Gets You a Better Rate Than Going Directly to a Bank
When you apply directly to a single bank, you see only what that bank is willing to offer you that day. Banks have no incentive to tell you their competitor is cheaper. Nook works differently:
- You submit one application — Nook collects your details once
- We approach multiple banks simultaneously — including BDO, BPI, RCBC, Security Bank, Metrobank, and others
- Banks compete for your loan — this competition drives your rate down
- You choose the best offer — with full transparency on rates, fees, and terms
- We handle the paperwork — Nook's team manages the process end to end
The result: Nook clients regularly receive offers 0.50% – 1.50% lower than the best rate they were quoted when they went directly to a bank. On a ₱5,000,000 loan over 20 years, a 1.00% rate difference equals approximately 650,000 pesos in saved interest.
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Compare My Options →Frequently Asked Questions
What is the lowest home loan interest rate in the Philippines in 2026?
The lowest home loan rate currently available in the Philippines in 2026 is 5.99% p.a., which Nook can access for qualifying borrowers through its panel of partner banks. Among banks you can apply to directly, RCBC and Security Bank frequently advertise the lowest fixed rates for private commercial banks, starting around 6.25% p.a. for a 1-year fixed period. Pag-IBIG offers rates starting at 3.00% for eligible affordable housing borrowers, though most standard Pag-IBIG loans fall in the 6.375% – 6.500% range.
Which bank has the best home loan rates in the Philippines?
RCBC and Security Bank consistently offer the most competitive advertised rates among Philippine private banks in 2026, with starting rates around 6.25% p.a. BPI is close behind among the Big Three banks. However, the best rate for your specific situation depends on your loan amount, property type, location, and credit profile. Nook compares all major banks simultaneously so you can find the actual best offer for your profile, not just the lowest advertised rate.
How do I compare home loan rates across different Philippine banks?
You can compare home loan rates by visiting each bank's website or branch, or by using a mortgage broker like Nook. Going bank by bank is time-consuming — each bank requires a separate application, separate document submission, and separate processing time. Nook lets you submit one application and receive comparable offers from multiple banks simultaneously. This is completely free for the borrower and typically takes less time than applying to a single bank on your own.
What is a good interest rate for a home loan in the Philippines?
In 2026, a good home loan interest rate in the Philippines is anything below 7.00% p.a. for a fixed period of 1–5 years. The best rates in the market range from 5.99% to 6.50% p.a. If you are currently paying above 7.50%, you are likely paying more than you need to and refinancing is worth considering. Most Filipino homeowners who took out loans between 2019 and 2023 can meaningfully reduce their rate by refinancing through Nook.
What is the difference between a fixed rate and a variable rate home loan in the Philippines?
A fixed rate home loan locks your interest rate for a specified period — typically 1, 2, 3, or 5 years — after which the bank reprices you to their prevailing rate at that time. A variable rate loan fluctuates with market conditions throughout the loan term. In the Philippines, almost all bank home loans are technically fixed-then-variable: you choose a fixing period, then reprice. Choosing a longer fixing period gives you more payment stability but typically comes with a slightly higher rate. Nook advises most clients to lock in a fixed rate now given current market conditions.
How much can I borrow for a home loan in the Philippines?
Most Philippine banks will lend up to 80% of the appraised value of the property (80% loan-to-value ratio), with Security Bank offering up to 85%. The maximum loan amount also depends on your income — banks typically require that your monthly loan payment not exceed 30–35% of your gross monthly income. Common loan amounts range from 1,500,000 to 10,000,000 pesos, though larger loans are available for high-value properties. Pag-IBIG has a maximum loan of 6,000,000 pesos for most programs.
How long does home loan approval take in Philippine banks?
Processing times vary by bank. BPI typically processes within 5–10 banking days once complete documents are submitted. BDO and Metrobank usually take 7–15 banking days. Security Bank and RCBC are similar. Pag-IBIG typically takes 3–4 weeks or longer. When you apply through Nook, we help ensure your documents are complete before submission, which significantly reduces back-and-forth delays and can shorten your total approval timeline.
Is it worth refinancing my home loan in the Philippines?
Refinancing is generally worth it if your current interest rate is at least 0.75%–1.00% higher than what you can qualify for today, and you have at least 5 years remaining on your loan. With Nook offering rates as low as 5.99% p.a. and most existing loans carrying rates of 7%–10%, the majority of Filipino homeowners with outstanding home loans stand to save a significant amount. Nook's service is 100% free, so there is no cost to find out how much you could save.
What documents do I need to apply for a home loan in the Philippines?
Standard requirements across most Philippine banks include: valid government-issued IDs, proof of income (payslips and Certificate of Employment for employed applicants; ITR and financial statements for self-employed), proof of billing, the property's Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), tax declaration, and a signed loan application form. OFWs typically also need an employment contract and proof of remittances. Nook provides a complete document checklist and reviews your submission before forwarding to banks to minimize delays.
Can I negotiate a lower home loan rate with a Philippine bank?
Yes, rates are negotiable, especially for large loan amounts (above 5,000,000 pesos) or for borrowers with strong profiles (high income, low existing debt, long employment tenure). However, individual borrowers typically have limited negotiating leverage with a single bank. Nook creates competition among multiple banks simultaneously, which achieves a more effective rate reduction than most borrowers can negotiate on their own. Nook clients regularly receive offers 0.50%–1.50% lower than direct bank quotes.