BPI vs Metrobank: Home Loan Refinancing Rates at a Glance
Choosing between BPI and Metrobank for home loan refinancing isn't just about the headline interest rate — it's about total cost over your fixing period, eligibility requirements, and how smoothly the process goes. Below, we break down both banks side by side so you can make an informed decision.
| Feature | BPI Family Savings Bank Nook Partner | Metrobank |
|---|---|---|
| 1-Year Fixed Rate | 6.70% p.a. | Approximately 7.50%–8.50% p.a. (estimated) |
| 5-Year Fixed Rate | 6.50% p.a. | Not publicly disclosed |
| Home Equity Rate | 6.70% p.a. | Not publicly disclosed |
| Minimum Monthly Income | 40,000 | Typically 40,000–50,000 (varies) |
| Typical Approval Time | 52 days | Approximately 30–60 days (estimated) |
| Max Debt-to-Income Ratio | 40% | Not publicly disclosed |
| Eligible Employment Types | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Salaried employees, self-employed (varies) |
| Loan Purposes Covered | Refinancing, Home Equity, New Construction, Pre-Selling, RFO, Renovation, Reselling, Foreclosed | Refinancing, Purchase, Construction |
| Apply via Nook (Free) | Yes | No |
Note: Metrobank rates shown are approximate figures based on publicly available information as of 2026 and are subject to change. Always verify current rates directly with the bank. BPI Family Savings Bank rates are verified through Nook's partner agreement.
How Much Could You Save by Refinancing with BPI?
To illustrate the real-world impact of refinancing, let's compare a borrower currently paying a typical rate versus refinancing through BPI via Nook.
Sample Scenario: 3,000,000 loan, 20-year remaining term
Current Loan (Typical Rate)
8.50% p.a.
- Monthly Payment: approximately 26,035
- Total Interest Over 20 Years: approximately 3,248,400
After Refinancing with BPI (5-Year Fixed)
6.50% p.a.
- Monthly Payment: approximately 22,381
- Total Interest Over 20 Years: approximately 2,371,440
- Monthly Savings: approximately 3,654
- Total Savings Over 20 Years: approximately 876,960
That's nearly 877,000 pesos in potential savings — just by refinancing to a lower rate. Even accounting for typical refinancing fees (which usually range from 30,000 to 80,000 pesos depending on the lender and loan size), the net benefit over the life of a 20-year loan is substantial.
Want to see your own numbers? Check our detailed BPI vs Metrobank refinancing guide for 2026 with more scenarios and breakdowns.
BPI for Refinancing: What You Need to Know
BPI Family Savings Bank is one of the Philippines' most established home loan providers, and as a Nook partner bank, their rates and requirements have been verified directly — so there are no surprises when you apply.
Key Advantages of Refinancing with BPI via Nook
- Competitive fixed rates: At 6.50% p.a. for a 5-year fixing period, BPI's refinance rates are among the lowest currently available through any major Philippine bank.
- Wide borrower eligibility: BPI accepts borrowers from a broad range of employment types — including OFWs, seafarers, BPO workers, government employees, and self-employed professionals — making it accessible to more Filipinos.
- Transparent requirements: Minimum monthly income of 40,000 and a 40% maximum DTI ratio give borrowers a clear picture of eligibility upfront.
- Multiple loan purposes: Whether you're refinancing for a lower rate, tapping home equity, funding renovation, or consolidating debt, BPI covers it all under one roof.
- Free broker service through Nook: When you apply through Nook, there are no broker fees. Nook handles document preparation, bank coordination, and follow-ups at zero cost to you.
Metrobank for Refinancing: What You Need to Know
Metrobank is one of the Philippines' Big Three banks and has a strong reputation for home lending. However, their refinancing rates are not as transparently published as BPI's, which can make it harder to compare options without submitting a formal application.
What We Know About Metrobank Home Loan Refinancing
- Rates are typically higher: Based on publicly available information, Metrobank's standard home loan rates generally fall in the 7.50%–9.00% range depending on fixing period and borrower profile — though exact promotional rates require direct inquiry.
- Less transparency online: Unlike Nook partner banks, Metrobank does not publish detailed rate tiers on a consistently updated basis, which means borrowers often need to visit a branch or submit an application to get a formal quote.
- Strong branch network: Metrobank's extensive branch presence across the Philippines can be an advantage for borrowers who prefer face-to-face service.
- Processing timelines vary: Approval timelines at Metrobank typically range from 30 to 60 days, though this can vary based on document completeness and branch workload.
Disclaimer: Metrobank rate information above is approximate and based on publicly available data. These rates are not verified through a Nook partner agreement and may differ from rates offered to individual borrowers. Please verify directly with Metrobank before making any financial decisions.
Which Bank Is Better for Refinancing in 2026?
For most borrowers, BPI Family Savings Bank — applied through Nook — offers a clearer, more competitive refinancing path. Here's a summary of when each bank might make sense:
Choose BPI via Nook if you:
- Want the lowest available fixed rate (6.50% for 5-year fix)
- Prefer a fully transparent, documented process
- Are an OFW, BPO worker, or self-employed — BPI's wide eligibility covers you
- Want free expert assistance through Nook's broker service
- Are refinancing for rate reduction, home equity, or renovation
Consider Metrobank if you:
- Have an existing relationship with Metrobank and prefer to consolidate banking
- Prefer face-to-face branch service and have a Metrobank branch nearby
- Have already received a competitive rate quote from Metrobank directly
Still unsure? Read our comprehensive BPI vs Metrobank home loan rates guide for 2026 for an even deeper breakdown, including documentation requirements and tips to maximize approval chances.
The best move is to let Nook compare options across multiple partner banks — for free — so you can be confident you're getting the best rate available to you.
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Compare My Options →Frequently Asked Questions
Which is better for home loan refinancing — BPI or Metrobank?
Based on verified data, BPI Family Savings Bank offers more competitive and transparent refinance rates, with fixed rates starting at 6.50% p.a. for a 5-year fixing period. Metrobank's rates are typically in the 7.50%–9.00% range based on publicly available information, but are not as clearly published. For most refinancing borrowers, BPI through Nook offers a stronger combination of rate, transparency, and free broker support.
What is BPI's current home loan refinance rate?
As of 2026, BPI Family Savings Bank (a Nook partner bank) offers a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. for home loan refinancing. Home equity loans are also available at 6.70% p.a. These rates are verified through Nook's partner agreement and are subject to change — always confirm the current rate before applying.
What is Metrobank's home loan interest rate for refinancing?
Metrobank does not publicly disclose detailed rate tiers on a consistently updated basis. Based on publicly available information, their standard home loan rates typically range from approximately 7.50% to 9.00% p.a. depending on the fixing period and borrower profile. We recommend contacting Metrobank directly or visiting a branch to get a formal quote, as rates are subject to change and vary by borrower.
How much can I save by refinancing from a high rate to BPI's 6.50% rate?
Savings depend on your loan balance, remaining term, and current rate. For example, a borrower with a 3,000,000 loan on a 20-year term refinancing from 8.50% to 6.50% could save approximately 3,654 per month — or close to 877,000 pesos over the full term. Use Nook's free refinancing service to get a personalized estimate based on your actual loan details.
Is Nook's refinancing service really free?
Yes — Nook's service is 100% free to the borrower. As a digital mortgage broker, Nook is compensated by the partner banks, not by the borrower. You get full access to verified rates from partner banks, expert guidance, document preparation assistance, and bank coordination — all at no cost to you.
What are the eligibility requirements to refinance with BPI through Nook?
To refinance with BPI Family Savings Bank through Nook, you generally need a minimum monthly income of 40,000 pesos and a total debt-to-income ratio of no more than 40%. BPI accepts borrowers from a wide range of employment types, including private sector employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and professionals. Nook can help you assess your eligibility before you formally apply.
How long does it take to get approved for a refinance with BPI?
The typical approval timeline for BPI home loan refinancing is approximately 52 days from the time complete documents are submitted. Nook helps borrowers prepare a complete document package upfront, which reduces back-and-forth with the bank and can help keep the process on track.
Can OFWs and self-employed borrowers refinance through BPI via Nook?
Yes. BPI Family Savings Bank accepts a wide range of borrower profiles, including OFWs, seafarers, self-employed individuals, and professionals. This makes it one of the more accessible refinancing options in the Philippines. Nook's mortgage specialists can help OFW and self-employed borrowers navigate documentation requirements, which are often more complex for these employment types.