BPI vs Metrobank Housing Loan: Quick Comparison
Choosing between BPI and Metrobank for your housing loan in 2026 comes down to more than just interest rates. Below is a head-to-head look at the key factors that affect your total cost of borrowing.
| Factor | BPI Family Savings Bank | Metrobank |
|---|---|---|
| 1-Year Fixed Rate | 6.70% p.a. | ~7.50–8.50% p.a. (approximate) |
| 5-Year Fixed Rate | 6.50% p.a. | ~7.75–9.00% p.a. (approximate) |
| Home Equity Rate | 6.70% p.a. | Varies; contact bank directly |
| Min. Monthly Income | 40,000 | ~50,000+ (approximate) |
| Typical Approval Time | ~52 days | ~30–60 days (approximate) |
| Max Debt-to-Income Ratio | 40% | ~35–40% (approximate) |
| Nook Partner? | ✅ Yes — apply free via Nook | ❌ Not a Nook partner |
Metrobank rates shown are approximate figures based on publicly available information and are subject to change. Always verify current rates directly with Metrobank. BPI Family Savings Bank rates are verified Nook partner rates as of 2026.
Interest Rate Deep Dive: What You'll Actually Pay
Let's put these rates into real peso terms. Consider a home loan of 3,000,000 over a 20-year term.
Scenario: 3,000,000 Loan | 20-Year Term
BPI — 5-Year Fixed at 6.50%
- Monthly Payment (fixed period): approx. 22,363
- Total paid over 5 fixed years: approx. 1,341,780
- Transparent, published rate via Nook
Metrobank — Est. 5-Year Fixed at ~8.50%
- Monthly Payment (fixed period): approx. 25,956
- Total paid over 5 fixed years: approx. 1,557,360
- Estimated saving with BPI vs Metrobank over 5 years: approx. 215,580
Nook Refinance — Best Rate at 5.99%
- Monthly Payment: approx. 21,480
- Total paid over 5 fixed years: approx. 1,288,800
- Estimated saving vs Metrobank over 5 years: approx. 268,560
- 100% free to apply through Nook
Even a 1–2% difference in your interest rate compounds significantly over the life of a home loan. This is why comparing options — and considering refinancing — is one of the most impactful financial decisions a homeowner can make. For a deeper look at how these two banks stack up on monthly payments, see our full BPI vs Metrobank home loan comparison.
Loan Purposes: What Can You Use the Loan For?
BPI Family Savings Bank (via Nook) supports a wide range of loan purposes, making it flexible for different borrower needs:
- ✅ Refinancing your existing home loan
- ✅ Ready for Occupancy (RFO) purchase
- ✅ Pre-selling property purchase
- ✅ New construction
- ✅ Home renovation
- ✅ Home equity / cash-out
- ✅ Reselling / resale properties
- ✅ Foreclosed properties
Metrobank also supports most standard home loan purposes including purchase, construction, and refinancing. However, specific eligibility per purpose should be confirmed directly with Metrobank as their criteria may differ.
Eligibility Requirements: Who Qualifies?
BPI Family Savings Bank (via Nook)
- Minimum monthly income: 40,000
- Employment types accepted: Private sector employees, government employees, BPO workers, OFWs and seafarers, self-employed individuals, and licensed professionals
- Maximum DTI: 40% of gross monthly income
- Citizenship: Filipino citizens; some products available to foreign nationals
Metrobank (Approximate — Verify Directly)
- Minimum monthly income: Typically around 50,000+ depending on loan amount
- Employment types: Generally accepts employed and self-employed applicants
- Additional requirements may vary by branch and loan type
BPI's income requirement of 40,000/month makes it more accessible to a broader range of Filipino borrowers, including mid-income earners and OFW families.
The Refinancing Angle: Could You Save Even More?
If you already have an existing home loan — whether with Metrobank, BPI, or any other bank — refinancing through Nook could be your biggest opportunity to reduce your monthly payments and total interest paid.
Nook is the Philippines' first digital mortgage broker. We compare rates from multiple partner banks (including BPI Family Savings Bank) and match you with the best available offer — completely free of charge. You pay no broker fees, no application fees to Nook.
Best refinance rate available through Nook: 5.99% p.a.
If you're currently paying 8% or more on your home loan, refinancing could save you hundreds of thousands of pesos over the remaining term of your loan.
Curious how refinancing stacks up against staying with your current bank? Our guide on BPI vs Metrobank refinance rates walks through the numbers in detail.
Application Process: BPI via Nook vs Applying to Metrobank Directly
Applying to BPI via Nook
- Submit one online application through Nook (free)
- Nook matches you with BPI Family Savings Bank and other partner banks
- Nook guides you through document preparation and submission
- Typical approval timeline: ~52 days
- No broker fees — Nook is 100% free to borrowers
Applying to Metrobank Directly
- Visit a Metrobank branch or apply online at their website
- Submit documents directly to Metrobank
- Follow up independently with the bank
- Approval timelines vary by branch and application volume
- No third-party guidance on rate optimization
One key advantage of using Nook is that a single application lets you compare multiple banks simultaneously — saving you time and ensuring you're not leaving money on the table by committing to the first rate you're offered.
Which Bank Is Right for You?
Choose BPI (via Nook) if…
- You want verified, competitive rates starting at 6.50%
- Your monthly income is 40,000 or above
- You're an OFW, BPO worker, or self-employed professional
- You want a free broker guiding your application
- You're purchasing RFO, pre-selling, or refinancing
Consider Metrobank if…
- You're an existing Metrobank account holder with relationship pricing
- You have a preferred branch relationship
- You want to compare multiple offers before deciding
- Always verify current rates directly with Metrobank
Refinance via Nook if…
- You're currently paying 7% or more on your existing loan
- You want access to the best available rate of 5.99% p.a.
- You want a free, guided application process
- Your remaining loan balance is 1,500,000 or more
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
What is the current BPI housing loan interest rate in 2026?
Through Nook, BPI Family Savings Bank offers a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. as of 2026. These are verified rates available to eligible borrowers who apply through Nook's free digital mortgage broker service. Rates are subject to change, so we recommend submitting an inquiry to get the most up-to-date offer.
What is the current Metrobank housing loan interest rate in 2026?
Metrobank's housing loan rates are not publicly listed as fixed tiers in the same way as Nook partner banks. Based on publicly available information, Metrobank's rates typically range from approximately 7.50% to 9.00% p.a. depending on the fixing period and borrower profile. We strongly recommend contacting Metrobank directly or visiting their website for current, verified rates.
Is BPI or Metrobank better for a housing loan?
Based on available rate data, BPI Family Savings Bank (via Nook) offers more competitive and transparent rates — starting at 6.50% for a 5-year fix — compared to Metrobank's estimated range of 7.50–9.00%. BPI also accepts a lower minimum monthly income (40,000 vs Metrobank's estimated 50,000+), making it more accessible. That said, your best option depends on your specific financial profile. Applying through Nook lets you compare multiple banks at once, for free. For a broader comparison, see our guide on which is better: BPI or Metrobank.
Can I refinance my Metrobank home loan to BPI?
Yes, you can refinance your existing Metrobank home loan to BPI Family Savings Bank (or another Nook partner bank). This is called a loan takeout or refinancing. If your current rate is 7% or higher, refinancing to BPI's 6.50% 5-year fixed rate — or Nook's best available rate of 5.99% — could save you significantly over the remaining term of your loan. Nook handles the entire process for free.
What is the minimum income requirement for a BPI housing loan?
BPI Family Savings Bank requires a minimum monthly income of 40,000. This applies to employed individuals, self-employed professionals, OFWs, seafarers, BPO workers, and government employees. Nook can help you assess your eligibility and prepare the right documents before applying.
How long does BPI take to approve a housing loan?
BPI Family Savings Bank typically takes around 52 days for loan approval when applying through Nook. This timeline can vary based on document completeness, property valuation, and individual borrower circumstances. Nook helps streamline the process by guiding you through document preparation upfront.
What is a housing loan takeout and should I consider it?
A housing loan takeout (also called refinancing) is when you transfer your existing home loan from one bank to another — usually to get a lower interest rate. If you're currently paying 7% or more, a takeout to a bank offering 5.99%–6.50% could reduce your monthly payment by thousands of pesos. Nook specializes in this process and offers it completely free to borrowers. Learn more about how BPI and Metrobank compare on takeout rates in our BPI vs Metrobank housing loan takeout rates guide.
Is Nook's mortgage broker service really free?
Yes, Nook's service is 100% free to borrowers. Nook earns a referral fee from partner banks upon successful loan disbursement — you pay nothing extra. There are no broker fees, no hidden charges, and no obligation to proceed after getting your comparison results.