Interest Rates Comparison
BPI Family Savings Bank Rates
- 1-Year Fixed: 6.70% p.a.
- 5-Year Fixed: 6.50% p.a.
- Home Equity: 6.70% p.a.
RCBC Rates
- 1-Year Fixed: 7.00% p.a.
- Home Equity: 8.00% p.a.
Loan Requirements
| Requirement | BPI | RCBC |
|---|---|---|
| Minimum Monthly Income | 40,000 | 50,000 |
| Maximum Debt-to-Income | 40% | 30% |
| Processing Time | 52 days | 49 days |
Monthly Payment Comparison
For a 3,000,000 takeout loan over 20 years:
BPI (6.50% 5-year fixed)
Monthly Payment: 22,379
Total Interest: 2,370,960
RCBC (7.00% 1-year fixed)
Monthly Payment: 23,263
Total Interest: 2,583,120
Potential monthly savings with BPI: 884
Eligible Loan Purposes
BPI Covers
- Refinancing/Takeout
- Home Equity
- Ready For Occupancy
- Pre-Selling
- New Construction
- Renovation
- Foreclosed Properties
- Reselling
RCBC Covers
- Refinancing/Takeout
- Home Equity
- Ready For Occupancy
- Pre-Selling
- Foreclosed Properties
- Reselling
Employment Types Accepted
BPI Accepts
- Private Employees
- Government Employees
- BPO Workers
- OFWs/Seafarers
- Self-Employed
- Professionals
RCBC Accepts
- Private Employees
- OFWs/Seafarers
- Self-Employed
- Professionals
Why Choose Through Nook
Both BPI and RCBC are trusted Nook partner banks. When you apply through Nook, you get:
- Free broker service with no hidden fees
- Expert guidance throughout the takeout process
- Access to exclusive partner rates
- Streamlined application process
- Dedicated support until loan release
Explore our comprehensive home loan rates comparison to see how these banks stack up against other lenders.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which bank offers better rates for home loan takeout - BPI or RCBC?
BPI offers slightly better rates with 6.50% for 5-year fixed terms compared to RCBC's 7.00% for 1-year fixed. However, rate differences are minimal and other factors like processing time and loan requirements should also be considered.
What's the minimum income requirement for BPI vs RCBC home loans?
BPI requires a minimum monthly income of 40,000, making it more accessible than RCBC which requires 50,000. BPI also allows higher debt-to-income ratios at 40% versus RCBC's 30%.
How long does loan processing take for BPI vs RCBC?
RCBC processes loans faster at 49 days compared to BPI's 52 days. The 3-day difference may not be significant for most borrowers, but RCBC has a slight edge in processing speed.
Do both BPI and RCBC accept OFW home loan applications?
Yes, both banks accept OFW and seafarer applications. BPI has broader employment acceptance including government employees and BPO workers, while RCBC focuses on private employees, OFWs, self-employed, and professionals.
Can I refinance my existing home loan with either BPI or RCBC?
Yes, both banks offer refinancing services for takeout loans. BPI provides more loan purpose options including renovation and new construction, while RCBC focuses on core refinancing, home equity, and property purchase loans.
Is there a fee to apply through Nook for BPI or RCBC loans?
No, Nook's mortgage broker service is completely free for borrowers. You get expert guidance, access to partner bank rates, and dedicated support throughout your loan application without any charges or hidden fees.