BPI offers some of the most competitive housing loan rates in the Philippines — but if you're on an older fixed rate, you could be paying thousands more than you need to. 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 most trusted names in Philippine home lending, and for good reason. Their housing loan products cover a wide range of purposes — from purchasing a ready-for-occupancy unit or pre-selling property, to refinancing an existing loan, funding a renovation, or tapping your home equity. BPI Family Savings Bank, their retail lending arm and a Nook partner bank, currently offers a 5-year fixed rate of 6.50% p.a. and a 1-year fixed rate of 6.70% p.a. — making them one of the more competitively priced options in the market today. Minimum monthly income requirement is P40,000, and they accommodate a broad range of employment types including private employees, government workers, BPO staff, OFWs, seafarers, self-employed individuals, and licensed professionals. You can review the full BPI housing loan requirements checklist to see exactly what documents you'll need to prepare.
If you already have a BPI home loan and your current rate is higher than what's available today, refinancing could put significant money back in your pocket. Many Filipino homeowners who took out loans several years ago are still locked into rates of 8% to 10% — well above what BPI and other Nook partner banks are offering right now. By refinancing to a 6.50% 5-year fixed rate, a borrower with a P3,000,000 outstanding balance on a 20-year term could save over P3,000 every single month. Over the life of the loan, that adds up to hundreds of thousands of pesos. Nook's service is completely free to borrowers — we're compensated by the banks, not by you. Use the BPI home loan interest rates guide to understand how different fixed periods affect your total cost.
Whether you're a first-time applicant or looking to refinance an existing mortgage, applying through Nook means you get access to BPI Family Savings Bank alongside other leading lenders — all in one place, with a dedicated mortgage specialist guiding you through every step. Typical approval through BPI via Nook takes around 52 days, and Nook handles the paperwork coordination so you're not navigating the process alone. Interest rates are subject to change; we recommend verifying the latest figures with your Nook advisor before submitting 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
Through Nook, BPI Family Savings Bank currently offers a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. A home equity loan is also available at 6.70% p.a. These rates are subject to change, so it's best to confirm the latest figures with a Nook mortgage specialist before applying.
BPI Family Savings Bank accepts applications from a wide range of employment types, including private-sector employees, government workers, BPO staff, OFWs, seafarers, self-employed individuals, and licensed professionals. The minimum monthly income requirement is P40,000, and your total debt obligations must not exceed 40% of your gross monthly income (maximum debt-to-income ratio of 40%).
BPI's housing loan covers a broad range of purposes: purchasing a ready-for-occupancy (RFO) home, buying a pre-selling property, refinancing an existing home loan from another bank, funding a renovation, acquiring a foreclosed property, new construction, reselling, or taking out a home equity loan against your existing property. This flexibility makes BPI a strong option for many types of borrowers.
The typical approval timeline for a BPI housing loan processed through Nook is approximately 52 days from the time a complete set of documents is submitted. Nook's mortgage specialists help you prepare and organize your application to minimize delays and avoid back-and-forth with the bank.
If your current home loan rate is above 7%, refinancing to BPI's 6.50% 5-year fixed rate could generate meaningful savings. For example, on a P3,000,000 outstanding balance with 20 years remaining, switching from 8.50% to 6.50% could save you over P3,000 per month — more than P550,000 over the loan term. Nook's service is 100% free to borrowers, so there's no cost to finding out how much you could save.
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