If you have an existing BPI home loan, you could be paying thousands more per month than necessary. Nook helps you refinance to rates as low as 5.99% p.a. — completely free.
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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, but like all banks, their interest rates adjust over time — and if you took out your loan a few years ago, there's a good chance you're locked into a rate that's no longer competitive. BPI home loan refinancing is a smart way to reset your rate, reduce your monthly amortisation, and free up cash for the things that matter most to your family. Through Nook, you can explore BPI's current refinance offerings alongside rates from other top Philippine banks, all in one place and at zero cost to you.
BPI Family Savings Bank, a Nook partner, currently offers fixed refinance rates starting at 6.50% p.a. for a 5-year fix and 6.70% p.a. for a 1-year fix — well below the 8–10% rates many existing borrowers are still paying. To qualify, you'll need a minimum monthly income of ₱40,000, and BPI accepts a wide range of employment types including private employees, government workers, BPO professionals, OFWs, seafarers, and the self-employed. Typical approval takes around 52 days, and Nook's team will guide you through every document and step of the process.
The refinancing process involves submitting your loan documents, having your property reappraised, and signing a new loan agreement with your chosen bank. It sounds straightforward, but the paperwork and bank negotiations can be time-consuming if you go it alone. That's exactly why Nook exists — we handle the coordination, compare multiple lenders on your behalf, and make sure you get the best available deal. If you're considering moving your loan from BPI to another lender, read our guide on refinancing your BPI home loan to another bank to understand whether switching or staying makes more financial sense for your situation. Note that interest rates are subject to change — always verify current rates directly with the bank or through Nook 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
Yes, you can refinance within BPI by requesting a repricing or a full refinance under a new loan agreement. However, it's worth comparing BPI's in-house offer against other lenders — Nook can do this for you for free so you're sure you're getting the most competitive rate available in the market today.
You'll typically need a valid government-issued ID, your latest income tax return (ITR) or payslips, proof of billing, your existing loan statement of account, and the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) of the property. Nook will provide you with a complete, personalised checklist once you start your application so nothing gets missed.
Based on a ₱3,000,000 loan with 20 years remaining at 9.00%, refinancing to 5.99% could reduce your monthly payment by nearly ₱4,800 — that's over ₱57,000 in savings per year. Your actual savings will depend on your remaining loan balance, current rate, and the new rate you qualify for.
BPI, like most Philippine banks, may charge a pre-termination fee if you refinance during your fixed-rate lock-in period — typically 2–5% of the outstanding balance. It's important to check your loan agreement or ask your BPI branch directly. In many cases, the long-term savings from refinancing still far outweigh the one-time penalty.
The typical approval timeline for BPI Family Savings Bank is around 52 days from complete document submission. The full process — including property appraisal, credit evaluation, and loan release — can take 6 to 10 weeks in total. Nook helps keep things moving by liaising with the bank on your behalf and flagging any document issues early.
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