BPI offers some of the Philippines' most competitive home loan rates — but if you took out your loan years ago, you could be paying 2–3% more than necessary. See how much you could save by refinancing through Nook for free.
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Why this matters
BPI (Bank of the Philippine Islands) is one of the country's most trusted home loan providers, offering fixed-rate periods of 1, 2, 3, 5, and 10 years for both new purchases and refinancing. For 2026, BPI's fixed rates start at 6.50% p.a. for a 5-year fixed term and 6.70% p.a. for a 1-year fixed or home equity loan — making it a genuinely competitive option for Filipino homeowners. If you're shopping for a home loan or considering a switch, it's worth understanding exactly what BPI offers and how it stacks up. You can also use our BPI housing loan calculator to estimate your exact monthly payments before you apply.
However, if you took out a BPI home loan — or any bank home loan — more than two or three years ago, there's a strong chance your current interest rate is significantly higher than what's available today. Many Filipino homeowners are still locked into rates of 8% to 10%, often because they haven't explored refinancing or assumed the process would be too complex or costly. The reality is that refinancing through Nook is completely free for borrowers, and our team handles the comparison, paperwork, and bank coordination on your behalf. You can review the full BPI housing loan requirements to understand what documents you'll need to get started.
To qualify for a BPI home loan in 2026, you'll generally need a minimum monthly income of ₱40,000, a debt-to-income ratio of no more than 40%, and employment in an eligible category — including private sector, government, BPO, OFW/seafarer, self-employed, or licensed professional. Approval typically takes around 52 days, and BPI accepts applications for a wide range of purposes including refinancing, renovation, home equity, and both pre-selling and ready-for-occupancy (RFO) properties. Note that interest rates are subject to change — always verify the latest rates directly with BPI or through a Nook advisor before making a decision.
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
As a Nook partner bank, BPI is currently offering a 1-year fixed rate of 6.70% p.a., a 5-year fixed rate of 6.50% p.a., and a home equity rate of 6.70% p.a. These rates are among the most competitive available from major Philippine banks right now. Rates are subject to change, so we recommend confirming the latest figures through Nook or directly with BPI before applying.
Yes — if your current BPI rate is above 7%, refinancing could significantly reduce your monthly payment and total interest paid over the life of your loan. Through Nook, you can refinance to BPI or to another partner bank depending on which offers the best rate for your situation. The service is completely free to you as a borrower.
BPI's typical approval timeline is around 52 days from submission of a complete application. Working with Nook can help streamline this process since our team ensures your documents are complete and correctly prepared before submission. This reduces the risk of delays caused by missing requirements.
BPI requires a minimum monthly income of ₱40,000 for home loan applicants. This applies across employment types including private sector employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and licensed professionals. If you're unsure whether your income qualifies, a Nook advisor can assess your eligibility for free.
Generally, refinancing makes the most financial sense when you have at least 10 or more years remaining on your loan term, since the monthly savings have more time to compound and outweigh any switching costs. If your remaining balance is substantial and your current rate is 2% or more above today's best rates, it's still worth running the numbers. Nook can calculate your break-even point and help you decide if refinancing makes sense for your specific situation.
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