Thousands of Filipino homeowners are still locked into BPI home loan rates of 8% or higher — when refinancing today could drop your rate to as low as 6.50% fixed for 5 years. Nook makes switching banks completely free.
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Why this matters
If you took out a BPI home loan three or more years ago, there's a good chance your current interest rate is significantly higher than what's available in the market today. BPI's standard variable rates and repriced fixed terms can sit anywhere between 7.5% and 10% depending on when you last locked in — and that gap between your old rate and today's best offers is costing you real money every single month. Refinancing means replacing your existing BPI mortgage with a new loan at a lower rate, either with BPI itself or with another bank, and it's one of the most impactful financial moves a homeowner can make. Check out our BPI home loan interest rates guide for 2026 to understand exactly what's available and how your current rate compares.
Through Nook, you can access BPI Family Savings Bank's refinancing product at a 5-year fixed rate of 6.50% p.a. — one of the sharpest rates available to Filipino homeowners right now. For a ₱3,000,000 outstanding balance with 20 years remaining, that rate difference translates to thousands of pesos back in your pocket every month, and hundreds of thousands saved over the life of the loan. Eligibility requirements are accessible too: a minimum monthly income of ₱40,000, a debt-to-income ratio within 40%, and salaried, self-employed, OFW, and professional borrowers are all welcome. If you want to understand the full documentation process before you apply, our complete guide to BPI housing loan requirements walks you through every step.
Nook is the Philippines' first digital mortgage broker, and our service is 100% free to borrowers. We handle the comparison, the paperwork coordination, and the bank liaison — so you don't have to navigate it alone or pay a middleman. Whether your goal is to lower your monthly payment, shorten your loan term, or access equity in your home, refinancing through Nook puts the best available rates in front of you without the legwork. Please note that interest rates are subject to change — all figures should be verified directly with the bank at the time of 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
Yes, absolutely — refinancing to a different bank is one of the most common ways Filipino homeowners secure a lower rate. The new bank pays off your existing BPI balance and issues you a new loan under their terms, often with a significantly lower interest rate. Nook can help you compare multiple banks side by side to find the best offer for your situation.
BPI Family Savings Bank currently offers a 5-year fixed rate of 6.50% p.a. and a 1-year fixed rate of 6.70% p.a. for refinancing. These are among the most competitive rates available in the Philippine market right now. Rates are subject to change, so we recommend verifying the latest figures when you're ready to apply.
Typical approval through BPI Family Savings Bank takes approximately 52 days from the time you submit a complete set of documents. Nook helps you prepare and organise your documents upfront to avoid delays and keep the process moving as smoothly as possible. A faster, complete submission is one of the biggest factors in getting approved on time.
You'll need a minimum monthly income of ₱40,000 to qualify, and your total monthly debt obligations — including the new mortgage payment — must not exceed 40% of your gross monthly income. BPI Family Savings Bank accepts a wide range of employment types including private employees, government workers, BPO staff, OFWs, seafarers, self-employed individuals, and professionals.
Nook's service is completely free for borrowers — there are no broker fees, no hidden charges, and no commissions paid by you. Nook earns a referral fee from the bank only when your loan is successfully approved, which means our interests are fully aligned with yours. You get expert guidance, bank comparisons, and application support at zero cost.
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