BPI home loan interest rates start at 6.50% p.a. for a 5-year fixed term — but if you haven't reviewed your rate recently, you could be paying 8% or more. See how much you could save by refinancing through Nook.
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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 periods of 1 year at 6.70% p.a. and 5 years at 6.50% p.a. These rates apply to a range of loan purposes including refinancing, ready-for-occupancy purchases, pre-selling, renovation, new construction, and home equity. BPI also serves a wide range of borrowers — whether you're employed in the private sector, a government worker, a BPO professional, an OFW, a seafarer, or self-employed. Minimum monthly income requirement is P40,000, and approvals typically take around 52 days.
The part most homeowners miss is what happens after the fixed period ends — known as repricing. When your fixed rate expires, your lender adjusts your interest rate based on prevailing market benchmarks. If you locked in a low promotional rate years ago, repricing can push your monthly payment significantly higher. Many BPI borrowers who took out loans between 2018 and 2022 are now being repriced at rates well above 8%. That's where refinancing becomes powerful: by switching to a new fixed-rate period — either with BPI or another lender — you reset the clock and lock in today's lower rates. You can use the BPI housing loan calculator to model how different rates affect your monthly payment.
Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers. We compare BPI's current rates alongside other leading Philippine banks to find the best deal for your specific situation — loan amount, remaining term, income profile, and all. If you're approaching a repricing date or simply haven't reviewed your mortgage in the past year, now is the right time to act. Check out our complete BPI refinancing guide to understand exactly how the process works and what documents you'll need. Interest rates are subject to change — always verify current rates directly with the bank or through Nook before making a financial 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
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. These rates are available for a range of loan purposes including refinancing, home equity, and property purchases. Rates are subject to change, so it's best to confirm the latest figures directly with BPI or through Nook before applying.
At the end of your fixed-rate period, your loan undergoes repricing — BPI recalculates your interest rate based on current market benchmarks and their prevailing spread. This can result in a significantly higher rate than what you were originally paying, which increases your monthly amortisation. Many borrowers choose to refinance before or at repricing to lock in a new competitive fixed rate and avoid the increase.
Yes — Nook can help you refinance an existing BPI loan, either back to BPI at a new fixed rate or to another partner bank offering a more competitive deal. Our service is 100% free to borrowers, and we handle the rate comparison and application process on your behalf. You just need to have at least 2 years of remaining loan term and be current on your payments to qualify.
BPI accepts applications from a wide range of employment types including private-sector employees, government workers, BPO professionals, OFWs, seafarers, self-employed individuals, and licensed professionals. The minimum monthly income requirement is P40,000, and BPI uses a maximum debt-to-income ratio of 40% to assess affordability. You'll also need to meet standard credit and property requirements — see our BPI housing loan requirements guide for a full checklist.
BPI typically processes and approves home loan applications in approximately 52 days from submission of complete documents. This timeline covers credit evaluation, property appraisal, and internal approval processes. Submitting a complete and accurate application upfront — which Nook helps ensure — is the best way to avoid unnecessary delays.
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