BPI offers fixed home loan rates starting at 6.50% p.a. — but if you locked in before rates dropped, you could be overpaying by thousands every month. Nook helps you refinance for free.
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Why this matters
BPI (Bank of the Philippine Islands) is one of the most established home loan providers in the country, offering competitive fixed-rate periods and a range of loan purposes including refinancing, renovation, and new construction. In 2026, BPI's housing loan rates are structured around fixed terms — with a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. After the fixed period ends, your loan is repriced based on prevailing market rates, which is exactly when many homeowners discover they're paying significantly more than they should be. If your loan is approaching or has already passed a repricing date, now is the ideal time to review your options. You can also explore how BPI stacks up in a full three-bank comparison with Security Bank and Metrobank.
Through Nook, you can apply to refinance with BPI Family Savings Bank — a Nook partner — with a minimum monthly income requirement of just 40,000 pesos and a typical approval timeline of around 52 days. BPI accepts borrowers from a wide range of employment types, including private employees, government workers, OFWs, seafarers, BPO employees, self-employed individuals, and licensed professionals. This makes BPI one of the more accessible lenders in the market for Filipino homeowners looking to lower their monthly amortization. For a side-by-side look at how BPI compares to another popular refinancing option, check out this BPI vs RCBC home loan takeout rates comparison.
Nook's service is completely free for borrowers. As the Philippines' first digital mortgage broker, Nook does the legwork of comparing offers, preparing your documents, and coordinating with the bank on your behalf — at zero cost to you. Whether you're refinancing an existing BPI loan to lock in a better rate, or transferring your loan from another bank to BPI, Nook streamlines the entire process so you can focus on what matters: keeping more of your money every month. Please note that interest rates are subject to change — always verify current rates with your 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
Through Nook, BPI Family Savings Bank offers a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. These are among the more competitive rates available in the Philippine market right now. Rates are subject to change, so it's best to confirm the latest figures directly through Nook or BPI before applying.
When your fixed period expires, BPI reprices your loan based on prevailing market interest rates at that time, which can result in a significantly higher monthly payment. This is called a repricing event, and it's one of the most common reasons homeowners choose to refinance. If you're approaching a repricing date, it's worth checking whether switching to a new fixed term — either with BPI or another lender — could save you money.
Yes — Nook can help you refinance your current home loan (from any bank) to BPI Family Savings Bank, provided you meet their eligibility criteria including a minimum monthly income of 40,000 pesos. The application process is handled digitally through Nook and is completely free for the borrower. Typical approval takes around 52 days.
BPI accepts a broad range of borrower profiles including private employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and licensed professionals. The maximum debt-to-income (DTI) ratio allowed is 40%, meaning your total monthly debt obligations — including your new mortgage payment — should not exceed 40% of your gross monthly income. Nook can help you assess your eligibility before you apply.
Savings depend on your current rate, remaining loan balance, and the new rate you qualify for. For example, a homeowner with a 3,000,000 peso loan at 8.50% p.a. could reduce their monthly payment by roughly 3,847 pesos by refinancing to a lower rate — that's over 46,000 pesos saved per year. Use Nook's free calculator to get a personalized estimate based on your actual loan details.
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