BPI offers housing loan rates starting at 6.50% p.a. (5-year fixed) — but most Filipino homeowners are still paying 7% to 10% on older loans. Here's what you need to know, and how to pay less.
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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, and for 2026, their housing loan rates remain competitive across all fixed-rate periods. The 1-year fixed rate is 6.70% p.a. and the 5-year fixed rate is 6.50% p.a. — making the longer fixed term the better deal if you want payment stability. These rates apply to standard residential purchases, refinancing, renovation, home equity, and pre-selling or RFO properties. If you're comparing options across lenders, it helps to read Nook's complete BPI refinancing guide which breaks down how BPI's rates stack up against the broader market.
One detail many borrowers overlook is what happens at repricing — the point when your current fixed period ends and your rate resets. If you took out a BPI loan several years ago on a 1-year fixed term, your rate may have been repriced multiple times, and you could now be paying significantly above today's market rate. This is exactly when refinancing makes the most sense. By switching to a new 5-year fixed rate at 6.50%, you lock in a lower payment for five years and avoid the uncertainty of annual resets. If you want to see how your monthly repayments would change, the BPI housing loan calculator guide walks through sample amortizations for different loan amounts and terms.
BPI accepts applications from a wide range of borrowers — including private employees, government workers, BPO staff, OFWs, seafarers, self-employed professionals, and more. The minimum qualifying income is 40,000 per month, and typical loan approval takes around 52 days. Applying through Nook is completely free — we submit your application directly to BPI (and compare it against other partner banks) so you get the best available rate without paying broker fees. Interest rates are subject to change; always confirm the latest figures with BPI or through Nook before submitting your application.
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Common questions
BPI's current housing loan rates for 2026 are 6.70% p.a. for a 1-year fixed period and 6.50% p.a. for a 5-year fixed period. These rates apply to new purchases, refinancing, and other residential loan purposes. Rates are subject to change, so it's best to verify the latest figures directly through Nook or BPI before applying.
With a 1-year fixed rate, your interest rate is locked for only 12 months before it reprices — meaning your monthly payment could go up or down based on prevailing market rates. A 5-year fixed rate locks in your payment for five years, giving you more stability and, at BPI's current rates, a slightly lower rate of 6.50% versus 6.70%. Most borrowers who want predictability prefer the 5-year fixed option.
BPI accepts applications from private employees, government workers, BPO professionals, OFWs, seafarers, self-employed individuals, and licensed professionals. The minimum monthly income requirement is 40,000, and BPI's maximum debt-to-income ratio is 40%. For a full checklist of required documents, see our BPI housing loan requirements guide.
If your current home loan rate is above 7%, refinancing to BPI's 6.50% (5-year fixed) could meaningfully reduce your monthly payment and total interest paid over the remaining loan term. The decision depends on your remaining balance, loan term, and any fees involved in switching. Nook can run a free comparison for you to see if the savings justify a refinance.
BPI's typical loan approval timeline is around 52 days from submission of complete documents. Applying through Nook is 100% free — we act as your mortgage broker at no cost to you, helping you prepare your application and submit it to BPI and other partner banks simultaneously. There are no broker fees, no hidden charges, and no obligation to proceed.
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