Interest Rate Comparison
BPI Family Savings Bank (Nook Partner)
- 1-Year Fixed Rate: 6.70%
- 5-Year Fixed Rate: 6.50%
- Home Equity Rate: 6.70%
- Rate Type: Verified partner rates
Metrobank
- Standard Takeout Rates: 7.00-9.00%*
- Variable Rates: Subject to market conditions
- Rate Type: Approximate, publicly available
- *Rates shown are estimates based on general market information
Processing Time & Requirements
Loan Purposes & Flexibility
BPI Family Savings Bank
- Foreclosed properties
- Home equity loans
- New construction
- Pre-selling units
- Ready for occupancy (RFO)
- Refinancing/takeout
- Renovation loans
- Reselling properties
Metrobank
- Home purchase
- Refinancing/takeout
- Home construction
- Lot acquisition
- Home improvement
- Specific loan products may vary by branch
Potential Monthly Savings Example
Sample Loan: 3,000,000 over 20 years
Metrobank (estimated 8.0%)
Monthly Payment: 25,093
Total Interest: 3,022,320
BPI Family Savings Bank via Nook (6.50%)
Monthly Payment: 22,350
Total Interest: 2,364,000
Monthly Savings: 2,743
Total Interest Savings: 658,320
Why Choose BPI Family Savings Bank Through Nook
- Verified Competitive Rates: Access to confirmed 6.50-6.70% rates through our partnership
- Free Broker Service: No cost to you - we handle the application process
- Streamlined Processing: Direct partnership ensures smoother application flow
- Comprehensive Loan Options: Multiple property types and purposes accepted
- Expert Guidance: Our mortgage specialists guide you through every step
For those also considering other major banks, you might find our BPI vs Security Bank comparison helpful for additional perspective on BPI's competitive positioning.
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Compare My Options →Frequently Asked Questions
What's the difference between BPI and BPI Family Savings Bank takeout rates?
BPI Family Savings Bank is a subsidiary of BPI that offers competitive housing loan rates. Through Nook's partnership with BPI Family Savings Bank, borrowers can access verified rates of 6.50-6.70%, which are often more competitive than standard BPI rates. Both are part of the BPI Group but may have different rate structures.
How much can I save by switching from Metrobank to BPI Family Savings Bank?
Savings depend on your current Metrobank rate and loan balance. For example, on a 3,000,000 loan over 20 years, switching from an 8% Metrobank rate to BPI Family Savings Bank's 6.50% rate could save you 2,743 monthly and 658,320 in total interest over the loan term.
What documents do I need for a BPI Family Savings Bank takeout loan?
Typical requirements include valid IDs, proof of income (payslips, ITR, bank statements), existing loan documents, property title, tax declaration, and updated property appraisal. BPI Family Savings Bank accepts various employment types including private employees, government workers, BPO staff, OFWs, self-employed, and professionals.
How long does BPI Family Savings Bank takeout processing take?
BPI Family Savings Bank typically processes takeout loans within 52 days. This timeline can vary based on document completeness, property appraisal scheduling, and loan complexity. Working through Nook can help streamline the process with our dedicated support.
Can I refinance a Metrobank loan with poor credit history?
Both BPI Family Savings Bank and Metrobank will evaluate your current creditworthiness and payment history. A strong payment record on your existing Metrobank loan, stable income, and meeting the debt-to-income ratio requirements (40% for BPI Family Savings Bank) are key factors. Nook can help assess your eligibility before applying.
Are there prepayment penalties when switching from Metrobank to BPI Family Savings Bank?
Metrobank may charge prepayment penalties depending on your loan terms and how long you've held the loan. These are typically 1-5% of the outstanding balance if paid early. However, the interest savings from BPI Family Savings Bank's lower rates often offset these one-time penalties within 1-2 years.