BPI offers competitive fixed-rate housing loans starting at 6.50% p.a. — but if you're still on an old rate above 8%, you could be overpaying by thousands every month.
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Why this matters
BPI Family Savings Bank is one of the Philippines' most trusted home loan providers, offering fixed-rate terms of 1 year at 6.70% p.a. and 5 years at 6.50% p.a. — among the most competitive rates available from a major Philippine bank. The 5-year fixed option is particularly attractive for borrowers who want long-term payment certainty, locking in a low rate without worrying about repricing for half a decade. If you're shopping for a new purchase or thinking about refinancing, understanding the difference between these fixed periods is the most important decision you'll make. You can use our BPI housing loan calculator to model your exact monthly payments under each rate scenario.
The choice between a 1-year fixed and a 5-year fixed ultimately comes down to your risk appetite and how long you plan to hold the loan. The 1-year fixed at 6.70% gives you a slightly higher rate now but reprices sooner — useful if you expect rates to fall. The 5-year fixed at 6.50% locks in a lower rate for longer, giving you peace of mind and consistent budgeting. For most Filipino homeowners with a 20-year loan horizon, the 5-year fixed tends to deliver better total savings. BPI accepts borrowers from private employment, government, BPO, OFW/seafarer, self-employed, and professional backgrounds — with a minimum monthly income requirement of 40,000 pesos and a maximum debt-to-income ratio of 40%.
What many homeowners don't realise is that refinancing your existing home loan to BPI through Nook is completely free — Nook earns a referral fee from the bank, not from you. If your current rate is anywhere between 7% and 10%, switching to BPI's 5-year fixed at 6.50% could save you tens of thousands of pesos per year. Nook compares BPI alongside other partner banks so you always see your best available offer. For a full breakdown of what documents you'll need to apply, see our BPI housing loan requirements guide. Interest rates are subject to change — always verify current rates directly with BPI or through Nook 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
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. for housing loans. These rates are among the most competitive from a major Philippine bank and are available for purchases, refinancing, renovation, and home equity purposes. Rates are subject to change, so confirm the latest rates through Nook or directly with BPI before applying.
If payment stability is your priority, the 5-year fixed at 6.50% is the stronger choice — it locks in a lower rate for longer and protects you from rate increases over that period. The 1-year fixed at 6.70% gives you flexibility to reprice sooner, which could be advantageous if market rates drop significantly. For most borrowers with long remaining loan terms, the 5-year fixed typically wins on total interest savings.
On a 3,000,000 peso loan with 20 years remaining, switching from a rate of 8.50% to BPI's 5-year fixed at 6.50% reduces your monthly payment by approximately 3,865 pesos — that's over 46,000 pesos saved per year. Over a full 20-year term the total interest savings can exceed 695,000 pesos. Your actual savings will depend on your current rate, remaining balance, and remaining term.
No — Nook's service is completely free to borrowers. Nook is compensated directly by the bank, so you pay nothing for the comparison, application assistance, or ongoing support. You get access to the same BPI rates you'd find by applying directly, plus Nook's help navigating the process and comparing multiple lenders simultaneously.
BPI accepts applicants from a wide range of employment backgrounds including private-sector employees, government workers, BPO staff, OFWs, seafarers, self-employed individuals, and licensed professionals. The minimum monthly income requirement is 40,000 pesos and your total monthly debt obligations must not exceed 40% of your gross monthly income. BPI's typical loan approval timeline is around 52 days from complete document submission.
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