How We Compared Home Loan Rates Across Philippine Banks
This comparison covers the major banks offering home loans and refinancing in the Philippines as of 2026: BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, PSBank, EastWest Bank, PNB, Robinsons Bank, and Pag-IBIG (HDMF). We evaluated each lender on advertised interest rates, fixing periods, loan-to-value ratios, processing fees, and overall borrower flexibility.
Most homeowners focus only on the headline rate — but the repricing period, fixing term, and fees can dramatically change the true cost of your loan. A bank advertising 6.25% fixed for 1 year may be far more expensive over 20 years than a lender offering 6.75% fixed for 5 years, depending on where rates move.
For a full side-by-side view of all lenders, see our complete Philippine bank home loan comparison for 2026.
2026 Home Loan Rate Comparison Table: All Major Philippine Banks
| Bank | Starting Rate (p.a.) | Fixing Period | Max LTV | Min Loan Amount | Processing Fee |
|---|---|---|---|---|---|
| BDO | 6.50% | 1, 3, 5, 10, 15, 20 yrs | 80% | 1,000,000 | ~10,000 |
| BPI | 6.25% | 1, 3, 5, 10, 15, 20 yrs | 80% | 800,000 | ~10,000 |
| Metrobank | 6.50% | 1, 3, 5, 10 yrs | 80% | 1,000,000 | ~10,000 |
| Security Bank | 6.25% | 1, 2, 3, 5, 10 yrs | 80% | 1,000,000 | ~10,000 |
| RCBC | 6.38% | 1, 3, 5, 10 yrs | 80% | 1,000,000 | ~10,000 |
| UnionBank | 6.75% | 1, 3, 5 yrs | 80% | 1,000,000 | ~10,000 |
| Chinabank | 6.50% | 1, 3, 5 yrs | 80% | 1,000,000 | ~10,000 |
| PSBank | 6.75% | 1, 3, 5 yrs | 80% | 500,000 | ~5,000 |
| EastWest Bank | 6.75% | 1, 3, 5 yrs | 80% | 1,000,000 | ~10,000 |
| PNB | 6.50% | 1, 3, 5, 10 yrs | 80% | 1,000,000 | ~10,000 |
| Robinsons Bank | 6.50% | 1, 3, 5 yrs | 80% | 1,000,000 | ~10,000 |
| Pag-IBIG (HDMF) | 5.75%* | 1, 3, 5, 10, 15, 20, 25, 30 yrs | 90% | — | Minimal |
| Nook (Best Available) | 5.99% | Varies by lender | 80% | 1,000,000 | Free to borrower |
*Pag-IBIG rates apply only to eligible members and are subject to income and property value caps. Rates shown are indicative starting rates as of 2026 and may vary based on loan amount, term, and borrower profile. Always confirm current rates directly with the bank or through Nook.
BDO Home Loan Rates 2026
BDO Unibank is the largest bank in the Philippines and one of the most popular choices for home loans due to its extensive branch network and name recognition. BDO's home loan rates start at around 6.50% p.a. for a 1-year fixed period, with longer fixing options available up to 20 years.
Best for: Borrowers who value convenience, large loan amounts, and the security of banking with the country's biggest institution.
Watch out for: BDO's rates are not always the lowest in the market, particularly for shorter fixing periods. Repricing after the initial fixed term can result in significant payment increases if market rates have risen.
Sample BDO Loan Computation (Loan Amount: 3,500,000 | 20-year term | 6.50% p.a.)
- Monthly amortization (first fixed period): approximately 26,093
- Total interest over 20 years (if rate held constant): approximately 2,962,320
- If refinanced to 5.99% via Nook: monthly payment drops to approximately 25,083
- Monthly savings: approximately 1,010
- Total savings over remaining term: approximately 242,400
BPI Home Loan Rates 2026
Bank of the Philippine Islands (BPI) is consistently one of the most competitive banks for home loans, often matching or beating BDO on headline rates. BPI's starting rate is approximately 6.25% p.a. for a 1-year fixed period, with flexible terms from 5 to 20 years and loan amounts starting at 800,000.
Best for: Borrowers seeking competitive rates from a major universal bank, with strong digital banking tools and relatively fast processing.
Watch out for: BPI's best rates are often reserved for borrowers with strong credit profiles and existing BPI relationships. Walk-in applicants may be offered higher rates than those negotiated through a broker.
Sample BPI Loan Computation (Loan Amount: 3,500,000 | 20-year term | 6.25% p.a.)
- Monthly amortization: approximately 25,596
- Total interest over 20 years: approximately 2,843,040
- If refinanced to 5.99% via Nook: monthly payment approximately 25,083
- Monthly savings: approximately 513
- Total savings over remaining term: approximately 123,120
Metrobank Home Loan Rates 2026
Metrobank is a tier-1 lender with competitive home loan rates that typically align with BDO at around 6.50% p.a. Metrobank is known for reliable processing and strong support for developers, making it popular for purchases of brand-new condo and house-and-lot projects.
Best for: Buyers of developer projects with existing Metrobank tie-ups, and borrowers who prefer a large, stable institution.
Watch out for: Metrobank's fixing period options max out at 10 years, which may not suit borrowers looking for long-term rate certainty.
Security Bank Home Loan Rates 2026
Security Bank has emerged as one of the most aggressive lenders in the Philippine home loan market, offering starting rates of around 6.25% p.a. — matching BPI and sometimes undercutting the bigger banks. Security Bank also offers a 2-year fixing option that most competitors do not, giving borrowers more flexibility.
Best for: Borrowers who want competitive rates from a mid-tier bank that is known for faster approval times and strong customer service.
Watch out for: Security Bank has fewer branches than BDO or BPI, and its loan servicing infrastructure may be less convenient for borrowers outside Metro Manila.
RCBC Home Loan Rates 2026
RCBC (Rizal Commercial Banking Corporation) offers home loan rates starting at approximately 6.38% p.a. and is particularly competitive for refinancing. RCBC is one of the few banks that actively courts refinancing customers with streamlined processes and promotional rates. For a head-to-head look at two competitive mid-tier lenders, see our UnionBank vs RCBC home loan rates comparison.
Best for: Borrowers refinancing from another bank, and those seeking a credible alternative to the Big Three (BDO, BPI, Metrobank).
Watch out for: Rate promos change frequently; always confirm the current offer before applying.
Pag-IBIG (HDMF) Home Loan Rates 2026
Pag-IBIG Fund offers the lowest headline rates in the Philippine market — as low as 5.75% p.a. for the shortest fixing period — but eligibility is restricted to active Pag-IBIG members, and loan amounts are capped depending on the program. For socialized and economic housing, Pag-IBIG is unmatched. For mid- to high-value properties, private banks may offer more flexibility.
Best for: Eligible Pag-IBIG members purchasing properties within the program's loan limits, particularly first-time buyers in the affordable housing segment.
Watch out for: Loan ceilings may not be sufficient for properties in Metro Manila or premium subdivisions. Processing can also be slower than private banks.
Which Bank Has the Lowest Home Loan Rate in the Philippines Right Now?
In terms of pure rate, Pag-IBIG leads among government-backed options at 5.75% p.a. — but only for eligible members within program limits. Among private commercial banks, BPI and Security Bank are leading at approximately 6.25% p.a. as of 2026.
However, the lowest rate available to any qualified borrower in the Philippine market right now — regardless of which bank you're currently with — is 5.99% p.a., available through Nook. As a digital mortgage broker, Nook negotiates rates across all major lenders simultaneously and passes the best offer directly to you, at zero cost.
What a 1-2% Rate Difference Actually Costs You
| Loan Amount | Current Rate | Monthly Payment | Nook Rate (5.99%) | New Monthly Payment | Monthly Savings | Total Savings (20 yrs) |
|---|---|---|---|---|---|---|
| 2,000,000 | 8.00% | 16,729 | 5.99% | 14,333 | 2,396 | 575,040 |
| 3,500,000 | 8.00% | 29,276 | 5.99% | 25,083 | 4,193 | 1,006,320 |
| 5,000,000 | 8.00% | 41,822 | 5.99% | 35,833 | 5,989 | 1,437,360 |
| 7,500,000 | 9.00% | 67,487 | 5.99% | 53,750 | 13,737 | 3,296,880 |
| 10,000,000 | 9.00% | 89,973 | 5.99% | 71,666 | 18,307 | 4,393,680 |
If your current rate is above 7%, you are almost certainly paying too much. Use Nook to check your refinancing options — it's completely free, and you could lock in a lower rate within weeks.
How to Get the Best Home Loan Rate in the Philippines
- Compare multiple banks simultaneously. Never accept the first rate you're offered. Different banks price different borrower profiles differently — what's competitive for one person may not be for another.
- Consider the full fixing period, not just the teaser rate. A 1-year fix at 6.25% sounds great — until it reprices to 8.5% in year two. Ask every lender what the rate will be after the fixing period ends.
- Check if refinancing makes sense. If your existing home loan rate is above 7%, you should evaluate refinancing immediately. Our guide on which banks offer the best refinancing rates in the Philippines covers this in detail.
- Use a free broker like Nook. Nook submits your application to multiple lenders at once, negotiates the best rate, and handles the paperwork — at no cost to you. The 5.99% p.a. rate is only available through Nook because it reflects volume pricing unavailable to walk-in applicants.
- Improve your borrower profile. Stable income, a clean credit history, and a loan-to-value ratio below 70% all work in your favor when banks set your rate.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
What is the best home loan rate in the Philippines in 2026?
The lowest home loan rate currently available in the Philippines is 5.99% p.a., offered through Nook — a free digital mortgage broker. Among commercial banks, BPI and Security Bank are leading at approximately 6.25% p.a. for a 1-year fixed period. Pag-IBIG (HDMF) offers rates as low as 5.75% p.a. but is limited to eligible members within specific loan ceilings.
Which bank has the lowest home loan interest rate in the Philippines?
As of 2026, BPI and Security Bank are among the most competitive commercial banks with starting rates of around 6.25% p.a. However, rates vary based on loan amount, term, and your individual borrower profile. The best way to find your lowest rate is to compare across all lenders simultaneously through a free service like Nook.
How do I compare home loan rates across Philippine banks?
You can visit each bank's website, call their branches, or use a mortgage broker like Nook to compare rates from all major lenders at once. When comparing, look beyond the headline rate — consider the fixing period length, what happens after repricing, processing fees, and the bank's flexibility on pre-payment. A rate that looks lower on paper can cost more over the life of the loan.
Is BDO or BPI better for a home loan in the Philippines?
Both are top-tier lenders, but BPI generally offers slightly lower starting rates (around 6.25% p.a. vs BDO's 6.50% p.a.) and is known for faster digital processing. BDO has a broader branch network and may be more accessible for borrowers outside Metro Manila. For most borrowers focused on getting the lowest rate, BPI has a slight edge — though both are worth comparing against mid-tier lenders like Security Bank and RCBC, which are often more aggressive on pricing.
What is a good interest rate for a home loan in the Philippines?
In 2026, anything below 6.50% p.a. is considered competitive among commercial banks. If you're paying above 7.50% p.a., you are almost certainly overpaying and should consider refinancing. The best available rate through Nook is currently 5.99% p.a., which represents the floor of what's available in the Philippine market for qualified borrowers.
Can I refinance my home loan to get a lower rate?
Yes — and if your current rate is above 7%, you likely should. Refinancing means moving your existing home loan to a new lender offering a lower rate. The new bank pays off your old loan and you start fresh at the lower rate. Most lenders require a clean payment history and a minimum remaining loan balance (typically 1,000,000 or more). Nook specializes in refinancing and can check if you qualify for 5.99% p.a. at no cost to you.
Is Pag-IBIG better than a bank for a home loan in the Philippines?
Pag-IBIG offers the lowest rates in the market (from 5.75% p.a.) and longer terms (up to 30 years), but it is restricted to active Pag-IBIG members and has loan ceilings that may not cover high-value properties. For eligible buyers purchasing socialized or economic housing, Pag-IBIG is often the best choice. For mid- to high-value properties or refinancing scenarios, private banks via Nook may offer more flexibility and comparable rates.
How much can I save by refinancing my home loan?
The savings depend on your current rate, remaining balance, and remaining term. As an example: if you have a 3,500,000 loan at 8.00% p.a. with 20 years remaining, refinancing to 5.99% p.a. saves approximately 4,193 per month — or over 1,000,000 over the life of the loan. Nook provides a free savings estimate based on your actual loan details before you commit to anything.
Are home loan rates in the Philippines fixed or variable?
Philippine home loans typically use a fixed-then-floating structure. You choose a fixing period (commonly 1, 3, 5, or 10 years) during which your rate is locked in. After the fixing period ends, your rate is repriced based on market conditions at that time. This is an important consideration when choosing a lender — a bank with a slightly higher 5-year fixed rate may still be the better deal if it protects you from a significant repricing spike.
How long does it take to get a home loan approved in the Philippines?
Approval timelines vary by bank. Most major commercial banks take 2–4 weeks for conditional approval, with full approval and loan release taking 4–8 weeks depending on documentation completeness. Applying through Nook can speed this up because your documents are prepared and submitted correctly the first time, and Nook follows up with the bank on your behalf.