BPI offers competitive housing loan rates starting at 6.50% for a 5-year fixed term — but thousands of Filipino homeowners are still paying 8% or more. Find out if you qualify to refinance and start saving today.
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Why this matters
BPI (Bank of the Philippine Islands) is one of the most established home loan lenders in the country, and their housing loan rates are among the most competitive offered by a major Philippine bank. For 2026, BPI's fixed rates start at 6.50% p.a. for a 5-year fixed term and 6.70% p.a. for a 1-year fixed term — both significantly lower than the 8–10% rates many homeowners locked in years ago. If your current loan was taken out more than two or three years ago, there is a strong chance you are overpaying every single month. You can use the BPI housing loan calculator to estimate your current monthly payment and see how much a lower rate could save you.
Refinancing your existing home loan to BPI — or refinancing away from BPI to another competitive lender — is easier than most people think. Through Nook, the Philippines' first digital mortgage broker, you can compare BPI's rates side by side with other partner banks and submit a single application at no cost to you. Nook's service is 100% free to borrowers. BPI accepts applications from a wide range of employment types, including private employees, government workers, BPO professionals, OFWs, seafarers, self-employed individuals, and licensed professionals. The minimum qualifying monthly income is ₱40,000, and typical approval takes around 52 days. For a full breakdown of what documents you'll need, see the complete BPI housing loan requirements guide.
The savings potential is real and significant. On a ₱3,000,000 loan balance with 20 years remaining, dropping from 8.50% to 6.50% cuts your monthly payment by over ₱3,800 — that's more than ₱46,000 saved every year, and over ₱690,000 across the remaining loan term. Whether you are looking to refinance into BPI or out of a higher-rate lender, Nook helps you find the best available rate and handles the paperwork from start to finish. Please 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
BPI's current fixed housing loan rates through Nook are 6.70% p.a. for a 1-year fixed term and 6.50% p.a. for a 5-year fixed term. These rates are among the most competitive from a major Philippine bank, though they are subject to change — check with Nook or BPI directly to confirm the latest rates before applying.
BPI accepts applicants who are at least 21 years old and will not exceed 70 years old by the end of the loan term. Eligible employment types include private employees, government workers, BPO professionals, OFWs, seafarers, self-employed individuals, and licensed professionals, with a minimum gross monthly income of ₱40,000. Loan purposes include refinancing, purchase of ready-for-occupancy and pre-selling units, home equity, renovation, new construction, and reselling.
BPI's typical approval timeline is around 52 days from complete document submission. Approval speed can vary depending on the complexity of your application and how quickly you submit the required documents. Applying through Nook can help streamline the process since Nook's advisors will review your documents before submission to reduce back-and-forth delays.
If your current interest rate is above 7.5%, refinancing to BPI's 6.50% 5-year fixed rate could generate meaningful monthly savings — potentially thousands of pesos per month depending on your outstanding balance. The key is to weigh the one-time costs of refinancing (such as processing fees and legal fees) against your projected monthly savings to find your break-even point. Nook can help you run these numbers for free before you commit.
No — Nook's service is completely free for borrowers. Nook is compensated by the bank upon successful loan disbursement, so you receive full broker support, document review, and rate comparison at zero cost to you. This means you get access to BPI's rates and those of other partner banks without paying any additional fees on top of what the bank charges.
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