BPI vs Metrobank Home Loan Rates: Side-by-Side Overview
Before diving into the details, here is a quick snapshot of how BPI and Metrobank stack up on the metrics that matter most to Filipino homebuyers and refinancers in 2026.
| Feature | BPI Family Savings Bank | Metrobank |
|---|---|---|
| 1-Year Fixed Rate | 6.70% p.a. | ~7.50%–8.50% p.a. (approx.) |
| 5-Year Fixed Rate | 6.50% p.a. | ~7.25%–8.25% p.a. (approx.) |
| Home Equity Rate | 6.70% p.a. | Varies — contact bank directly |
| Min. Monthly Income | ₱40,000 | ~₱40,000–₱50,000 (approx.) |
| Typical Approval Time | ~52 days | ~60–90 days (approx.) |
| Max Debt-to-Income Ratio | 40% | ~35%–40% (approx.) |
| Nook Partner | ✅ Yes — verified rates, free service | ❌ No |
BPI Family Savings Bank rates are verified and current as of 2026. Metrobank rates are approximate figures based on publicly available information and are subject to change. Always verify directly with Metrobank before applying.
Interest Rate Comparison: What the Numbers Actually Mean for Your Wallet
A rate difference of even 1% sounds small — but over a 20-year loan, the impact is enormous. Let's run a concrete example.
Scenario: ₱3,000,000 home loan over 20 years.
At BPI's 5-Year Fixed Rate of 6.50%
- Estimated monthly payment (first 5 years): approximately 22,371
- Total interest paid over 20 years (assuming rate re-prices at prevailing market after Year 5): substantial savings in early years when the balance is highest
At Metrobank's Approximate Rate of 7.50%
- Estimated monthly payment at 7.50%: approximately 24,168
- Monthly difference vs BPI at 6.50%: approximately 1,797
- Annual savings with BPI: approximately 21,564
- Over 5 years of the fixed period: total savings of approximately 107,820
That's over 100,000 pesos in potential savings just in the fixed-rate period — without doing anything other than choosing the right bank. For homeowners already paying 8% or higher, the case for refinancing through a Nook partner bank like BPI is even stronger. See how the numbers look for refinancers in our detailed BPI vs Metrobank refinance rates comparison.
Monthly payment estimates are illustrative. Actual payments depend on your loan amount, term, fees, and the bank's current rates at time of application. All rates subject to change.
Loan Products & Eligible Purposes
Both BPI and Metrobank offer a range of home loan products, but BPI Family Savings Bank (via Nook) covers a notably broad set of purposes.
BPI Family Savings Bank — Eligible Loan Purposes
- ✅ Refinancing (take out your existing loan)
- ✅ Ready for Occupancy (RFO) units
- ✅ Pre-Selling properties
- ✅ New Construction
- ✅ Renovation
- ✅ Reselling / resale properties
- ✅ Foreclosed properties
- ✅ Home Equity loans
Metrobank — Eligible Loan Purposes
- ✅ Purchase (new and resale)
- ✅ Construction
- ✅ Refinancing / takeout
- ✅ Home equity / multi-purpose
- ⚠️ Specific product availability and rates — verify with Metrobank directly
For borrowers with a specific use case — especially foreclosed properties or pre-selling units — BPI Family Savings Bank's broad product coverage is a notable advantage.
Who Qualifies? Employment Types Accepted
One area where BPI Family Savings Bank stands out is the breadth of employment types it accepts, especially for OFWs and self-employed professionals who often struggle to get approved elsewhere.
BPI Family Savings Bank — Accepted Employment Types
- ✅ Private Employees
- ✅ Government Employees
- ✅ BPO Workers
- ✅ OFWs and Seafarers
- ✅ Self-Employed Individuals
- ✅ Professionals (doctors, lawyers, CPAs, etc.)
Metrobank
Metrobank generally accepts employed and self-employed applicants. OFW eligibility and specific income documentation requirements vary — contact Metrobank or a loan officer directly to confirm your eligibility.
Minimum monthly income: BPI Family Savings Bank requires ₱40,000. Metrobank's requirement is approximately ₱40,000–₱50,000 depending on the loan product and branch, though this is subject to change.
Approval Speed & Processing Time
If timing matters — whether you're racing a property deadline or eager to start saving on refinancing — approval speed is critical.
- BPI Family Savings Bank (via Nook): Typical approval in approximately 52 days. Nook's digital process means your documents are submitted correctly the first time, reducing back-and-forth delays.
- Metrobank: Approval timelines are generally in the range of 60–90 days based on publicly available information, though this can vary by branch and applicant profile.
When you apply through Nook, a dedicated mortgage specialist handles your BPI application — so you're not navigating the process alone. This is especially valuable for first-time applicants or those refinancing for the first time.
Fees & Hidden Costs: What to Watch Out For
Interest rates get all the attention, but fees can add up fast. Here's what to look out for with both banks.
Common Home Loan Fees in the Philippines
- Appraisal fee: Typically ₱3,500–₱7,000 depending on property value and location
- Processing fee: Usually ₱10,000–₱20,000
- Notarial / documentation fees: Varies
- Mortgage Redemption Insurance (MRI): Required by most banks
- Fire insurance: Required annually
- Early termination / prepayment penalty: Check the specific penalty period — typically 2–3 years from loan release
Both BPI and Metrobank charge standard home loan fees. The key is to ask each bank for a full Loan Cost Disclosure so you're comparing total cost of borrowing — not just the headline rate. When you apply through Nook, your mortgage specialist will walk you through the full cost breakdown before you commit to anything.
Refinancing: Which Bank Is Better for Switching Your Existing Loan?
If you're already paying a home loan at 7%, 8%, or higher — with BDO, Metrobank, RCBC, Pag-IBIG, or any other lender — refinancing to BPI Family Savings Bank at 6.50% (5-year fixed) or 6.70% (1-year fixed) could save you tens of thousands per year.
BPI Family Savings Bank explicitly supports refinancing and loan takeouts as an eligible purpose. Their 52-day typical approval timeline is also competitive for refinancers who want to start saving sooner.
For Metrobank borrowers specifically, the question isn't just whether BPI's rate is lower today — it's whether the total cost of switching (processing fees, appraisal, prepayment penalties on the old loan) is offset by the monthly savings. Our dedicated guide on BPI vs Metrobank housing loan takeout rates walks through this calculation in detail.
As a general rule: if your current rate is 7.50% or higher and you have at least ₱1,500,000 remaining on your loan, refinancing is very likely worth exploring. Nook's free service lets you check in minutes — no commitment required.
The Nook Advantage: Why Apply Through Us Instead of Going Direct
- 100% free to borrowers — Nook is compensated by the bank, not you
- Verified, current rates — BPI Family Savings Bank rates shown here are confirmed partner rates, not estimates
- One application, multiple banks — Nook compares BPI and up to 14 other lenders simultaneously
- Expert guidance — A dedicated mortgage specialist manages your application from start to finish
- Faster approvals — Correct document submission the first time means fewer delays
Whether you're buying your first home, refinancing an expensive existing loan, or tapping your home equity — Nook makes the process simpler, faster, and cheaper.
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Compare My Options →Frequently Asked Questions
What is the current home loan interest rate at BPI vs Metrobank?
BPI Family Savings Bank currently offers a verified 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. through Nook. Metrobank's home loan rates are approximately 7.25%–8.50% depending on the fixing period, based on publicly available information — but these figures are approximate and subject to change. Always verify Metrobank's current rates directly with the bank before applying.
Is BPI or Metrobank easier to get approved for a home loan?
BPI Family Savings Bank accepts a wide range of employment types including private employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and professionals. Metrobank also accepts employed and self-employed applicants, but specific eligibility criteria vary by product. BPI's minimum monthly income requirement is ₱40,000. Both banks have comparable income thresholds, though BPI's broader employment type acceptance gives it an edge for OFWs and non-traditional earners.
How long does BPI vs Metrobank take to approve a home loan?
BPI Family Savings Bank typically approves home loans in approximately 52 days when you apply through Nook. Metrobank's processing timeline is generally cited at 60–90 days, though this can vary depending on the branch, applicant profile, and completeness of documents submitted. Applying through Nook can help speed up the BPI process since specialists ensure your documents are complete and correct on first submission.
Can I refinance my Metrobank home loan with BPI?
Yes. BPI Family Savings Bank accepts refinancing and loan takeouts as eligible loan purposes. If you're currently paying a Metrobank home loan at a rate higher than 6.50%–6.70%, refinancing to BPI through Nook could significantly reduce your monthly payments. The total savings depend on your remaining loan balance, your current rate, and any prepayment penalties from Metrobank. Nook's free service can help you calculate whether switching makes financial sense for your specific situation.
Which bank has lower home loan rates — BPI or Metrobank?
Based on currently available data, BPI Family Savings Bank offers lower verified rates — 6.50% for a 5-year fixed and 6.70% for a 1-year fixed — compared to Metrobank's approximate range of 7.25%–8.50%. That said, Metrobank rates are estimates based on public information and change periodically. For the most accurate comparison, apply through Nook and get verified rates from BPI and other partner banks side by side.
Does Nook charge any fees to help me compare BPI and Metrobank?
No. Nook's service is completely free for borrowers. Nook earns a referral fee from the bank when your loan is approved — you pay nothing extra, and your loan terms are the same as (or better than) going directly to the bank. There is no catch and no obligation when you start a comparison through Nook.
What is the minimum loan amount and income requirement for BPI home loans?
BPI Family Savings Bank requires a minimum monthly income of ₱40,000. Minimum loan amounts and maximum loan-to-value ratios depend on the property type and purpose. BPI accepts loan purposes including purchase of RFO and pre-selling units, construction, renovation, resale, foreclosed properties, home equity, and refinancing. Contact Nook for a full assessment of how much you qualify to borrow based on your income and property.
How do I know if refinancing from Metrobank to BPI is worth it?
The key factors are: (1) the rate difference between your current Metrobank rate and BPI's available rate, (2) your remaining loan balance, (3) remaining loan term, and (4) any prepayment penalties from Metrobank. As a rough guide, if your current rate is 7.50% or higher and you have ₱1,500,000 or more remaining, the monthly savings from refinancing to 6.50% typically outweigh the switching costs within 12–24 months. Use Nook's free service to get a personalized savings estimate.