Interest Rates Comparison
BPI Family Savings Bank (via Nook)
- 1-Year Fixed: 6.70% p.a.
- 5-Year Fixed: 6.50% p.a.
- Home Equity: 6.70% p.a.
✓ Verified partner bank rates through Nook
Metrobank
- Standard Rates: 7.0% - 9.0% p.a.
- Promotional Rates: May vary
* Approximate rates based on publicly available information, subject to change
Monthly Savings Example (₱3,000,000 loan, 20 years)
| Bank | Rate | Monthly Payment | Monthly Savings vs Metrobank |
|---|---|---|---|
| BPI Family Savings (5-Year Fixed) | 6.50% | 22,428 | Save ₱2,572 - ₱5,682 |
| Metrobank (estimated) | 8.0% | 25,000 | - |
| Metrobank (higher range) | 9.0% | 28,110 | - |
Income Requirements & Eligibility
BPI Family Savings Bank
- Minimum Monthly Income: ₱40,000
- Max Debt-to-Income: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
- Typical Approval Time: 52 days
Metrobank
- Minimum Monthly Income: Typically ₱50,000+
- Max Debt-to-Income: 30-35%
- Employment Types: Private, Government, Professional
- Typical Approval Time: 60-90 days
Winner: BPI Family Savings Bank - Lower income requirements and higher DTI allowance make it more accessible for Filipino homeowners.
Loan Purposes & Flexibility
BPI Family Savings Bank
Supported Loan Purposes:
- Refinancing (existing loans)
- Home Equity loans
- New Construction
- Pre-Selling properties
- Ready For Occupancy (RFO)
- Foreclosed properties
- Renovation financing
- Reselling/second-hand homes
Metrobank
Typical Loan Purposes:
- Refinancing
- New home purchase
- Construction loans
- Home improvement (limited)
Fewer specialized loan products compared to BPI Family Savings
Why Choose Nook for Your BPI Refinance
- Verified Partner Rates: Access to BPI Family Savings Bank's competitive 6.50%-6.70% rates
- 100% Free Service: No broker fees or hidden charges
- Expert Guidance: Navigate the refinancing process with professional support
- Faster Processing: Streamlined application through established bank partnerships
- Multiple Options: Compare rates from various partner banks in one place
For a comprehensive view of how these banks compare with other major lenders, check out our complete BDO vs BPI vs Metrobank comparison.
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Compare My Options →Frequently Asked Questions
Which bank has lower home loan rates, BPI or Metrobank?
BPI Family Savings Bank offers significantly lower rates through Nook, with 5-year fixed rates at 6.50% compared to Metrobank's typical range of 7-9%. This can translate to thousands in monthly savings on your home loan payments.
What is the minimum income requirement for BPI vs Metrobank home loans?
BPI Family Savings Bank requires a minimum monthly income of ₱40,000, while Metrobank typically requires ₱50,000 or higher. BPI also allows up to 40% debt-to-income ratio compared to Metrobank's 30-35%, making it more accessible for borrowers.
How long does loan approval take for BPI vs Metrobank?
BPI Family Savings Bank typically processes applications in 52 days, while Metrobank usually takes 60-90 days for approval. When you apply through Nook's partner network, the BPI process can be even more streamlined with dedicated support.
Can I refinance my existing Metrobank loan to BPI?
Yes, you can refinance your existing Metrobank home loan to BPI Family Savings Bank through Nook. This could potentially save you significant money with BPI's lower rates of 6.50%-6.70% compared to higher Metrobank rates. Nook's free service makes the refinancing process smooth and cost-effective.
Which bank accepts more employment types for home loans?
BPI Family Savings Bank accepts a wider range of employment types including Private, Government, BPO, OFW/Seafarer, Self-Employed, and Professional workers. This makes it more inclusive compared to Metrobank, which typically focuses on traditional employment categories.
Are there any fees when switching from Metrobank to BPI through Nook?
Nook's broker service is 100% free - you pay no fees to Nook for facilitating your refinance from Metrobank to BPI Family Savings Bank. However, standard bank fees may apply such as processing fees, appraisal costs, and documentary stamps as required by banking regulations.