BPI offers some of the most competitive home loan rates in the Philippines — but if you've had your loan for a few years, you could be paying 1–3% more than today's best available rate. See how much you could save by refinancing.
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Why this matters
BPI (Bank of the Philippine Islands) is one of the most trusted home loan providers in the country, offering fixed-rate terms of 1 year and 5 years, with current rates starting at 6.50% p.a. for a 5-year fix and 6.70% p.a. for a 1-year fix. BPI accepts a wide range of borrowers including salaried employees in the private and government sectors, BPO workers, OFWs, seafarers, self-employed individuals, and licensed professionals. With a minimum qualifying income of just ₱40,000 per month and a maximum debt-to-income ratio of 40%, BPI's eligibility criteria are among the more accessible of the major Philippine banks. Typical approval takes around 52 days from complete submission. You can review the full BPI housing loan requirements and checklist to make sure your documents are ready before you apply.
If you already have a BPI home loan — or a home loan with any other bank — it's worth checking whether your current interest rate still reflects today's market. Many Filipino homeowners took out their loans when rates were 8%, 9%, or even higher, and haven't revisited their terms since. Refinancing to a lower fixed rate can reduce your monthly payment by thousands of pesos and save you hundreds of thousands over the life of your loan. Nook compares BPI alongside over a dozen Philippine lenders so you can see side-by-side which bank offers the best rate for your specific situation — completely free of charge. For a detailed breakdown of what BPI currently charges across different fixing periods, see our BPI home loan interest rates guide for 2026.
Applying through Nook means you submit one set of documents and we handle the comparison, coordination, and paperwork across multiple banks simultaneously — including BPI. Whether you're buying a new property, refinancing an existing loan, tapping home equity, or financing a renovation, Nook's licensed mortgage brokers will match you with the best available offer at no cost to you. Note: Interest rates are subject to change. Please verify current rates with BPI or through Nook before finalising your application.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
BPI currently offers a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. for home loans, including refinancing. These rates are among the most competitive available from a major Philippine bank, though they are subject to change — always confirm the latest rates directly with BPI or through Nook before applying.
BPI accepts applicants who are at least 21 years old and earn a minimum of ₱40,000 per month. Eligible employment types include private and government employees, BPO workers, OFWs, seafarers, self-employed individuals, and licensed professionals. Your total monthly debt obligations (including the new loan) must not exceed 40% of your gross monthly income.
BPI's typical loan approval timeline is around 52 days from the date of complete document submission. Submitting a complete and accurate application upfront is the single most effective way to avoid delays — you can use our BPI requirements checklist to make sure nothing is missing.
Yes — refinancing is one of the loan purposes BPI supports, and Nook can submit your application to BPI as part of a multi-bank comparison. We'll show you BPI's offer alongside other lenders so you can choose the best rate and terms for your situation. Nook's service is 100% free to borrowers.
A 5-year fixed rate (currently 6.50% p.a.) gives you longer payment certainty and is slightly lower than the 1-year fixed rate of 6.70% p.a., making it the better choice for most borrowers who value stability and want to lock in savings for longer. A 1-year fix may suit borrowers who expect to refinance again soon or anticipate rates dropping further. Nook's mortgage advisors can help you decide based on your specific financial situation.
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