BPI vs UCPB Home Loan: Quick Comparison
This page compares BPI Family Savings Bank's current home loan and refinance rates against UCPB's historical offerings. Note that UCPB completed its merger with UnionBank of the Philippines in 2022. If you are a former UCPB borrower, your loan has likely been transferred to UnionBank, and you may now be eligible to refinance at a significantly lower rate through Nook.
| Feature | BPI Family Savings Bank | UCPB (Historical) |
|---|---|---|
| 1-Year Fixed Rate | 6.70% p.a. | No longer available as standalone product |
| 5-Year Fixed Rate | 6.50% p.a. | No longer available as standalone product |
| Home Equity Rate | 6.70% p.a. | No longer available as standalone product |
| Min. Monthly Income | 40,000 | N/A (merged bank) |
| Typical Approval Time | 52 days | N/A |
| Max DTI Ratio | 40% | N/A |
| Nook Partner Bank | Yes — apply for free | No |
Interest rates are subject to change. Always verify current rates directly with the bank or through your Nook mortgage advisor.
What Happened to UCPB Home Loans?
United Coconut Planters Bank (UCPB) was one of the Philippines' established commercial banks, offering home loan products for many years. In April 2022, the Bangko Sentral ng Pilipinas (BSP) approved the full merger of UCPB into UnionBank of the Philippines, with UnionBank as the surviving entity. As a result, UCPB no longer operates as a separate bank, and its home loan portfolio was absorbed by UnionBank.
If you took out a home loan with UCPB, here is what this means for you:
- Your loan account and obligations have been transferred to UnionBank.
- Your original loan terms — including your interest rate — may have carried over, but you are now a UnionBank borrower.
- If your loan is currently on a variable rate or your fixed-rate period has expired, you could be paying significantly more than necessary.
- You are free to refinance your loan with any bank, including BPI through Nook, without penalty in most cases (check your current loan terms).
Many former UCPB borrowers are now discovering that refinancing to a lower fixed rate through Nook can result in substantial monthly savings. Read on to see the numbers.
How Much Could You Save by Refinancing to BPI Through Nook?
To illustrate the potential savings, here are three common scenarios comparing a typical legacy rate (representing what many UCPB-era borrowers may still be paying) versus BPI's 5-year fixed rate of 6.50% p.a. available through Nook.
Scenario 1: Loan Amount of 2,000,000 — 20-Year Term
| Rate | Monthly Payment (est.) | Total Interest Paid |
|---|---|---|
| 8.50% p.a. (legacy rate) | 17,356 | 2,165,440 |
| 6.50% p.a. (BPI via Nook) | 14,927 | 1,582,480 |
| Monthly Savings | 2,429 | 582,960 over loan life |
Scenario 2: Loan Amount of 4,000,000 — 20-Year Term
| Rate | Monthly Payment (est.) | Total Interest Paid |
|---|---|---|
| 8.50% p.a. (legacy rate) | 34,712 | 4,330,880 |
| 6.50% p.a. (BPI via Nook) | 29,854 | 3,164,960 |
| Monthly Savings | 4,858 | 1,165,920 over loan life |
Scenario 3: Loan Amount of 6,000,000 — 20-Year Term
| Rate | Monthly Payment (est.) | Total Interest Paid |
|---|---|---|
| 8.50% p.a. (legacy rate) | 52,068 | 6,496,320 |
| 6.50% p.a. (BPI via Nook) | 44,781 | 4,747,440 |
| Monthly Savings | 7,287 | 1,748,880 over loan life |
These figures are estimates based on a standard amortizing loan and are for illustration purposes only. Actual payments will depend on your outstanding balance, remaining term, and applicable fees. Interest rates are subject to change. Verify current rates with Nook or BPI Family Savings Bank before making financial decisions.
Why Apply for BPI Home Loan Refinancing Through Nook?
Nook is the Philippines' first digital mortgage broker, and applying through Nook is 100% free to the borrower. Here is what makes the Nook experience different:
- Access to the best available rates: Nook's partner banks, including BPI Family Savings Bank, offer rates as low as 5.99% p.a. — rates that may not be available if you walk into a branch directly.
- No broker fees: Nook earns from the banks, not from you. You pay nothing for the service.
- Expert guidance: Nook's mortgage advisors help you understand your options, prepare your documents, and navigate the approval process.
- Comparison across multiple lenders: Rather than applying to one bank and hoping for the best, Nook helps you compare offers so you get the right deal for your situation.
- Digital-first process: Submit your requirements online and track your application without taking multiple days off work to visit bank branches.
BPI Family Savings Bank accepts borrowers from a wide range of employment types — including private sector employees, government workers, BPO professionals, OFWs and seafarers, self-employed individuals, and licensed professionals. Whether your purpose is refinancing, renovation, home equity, or purchasing a new property, BPI through Nook covers it.
Curious how BPI compares to other lenders? You may also want to read our BDO vs BPI home loan comparison to see how two of the Philippines' biggest banks stack up on rates and features.
BPI Home Loan Rate Details
Here is a summary of BPI Family Savings Bank's current home loan rates available through Nook:
| Fixing Period | Interest Rate p.a. |
|---|---|
| 1-Year Fixed | 6.70% |
| 5-Year Fixed | 6.50% |
| Home Equity | 6.70% |
BPI Family Savings Bank requires a minimum monthly income of 40,000 and has a maximum debt-to-income (DTI) ratio of 40%. Typical loan approval takes around 52 days. Loan purposes covered include refinancing, home equity, new construction, pre-selling, ready-for-occupancy (RFO), renovation, and reselling of foreclosed properties.
Interest rates are subject to change. Please confirm the latest rates with your Nook advisor or directly with BPI Family Savings Bank before proceeding with any application.
Who Should Consider Refinancing Right Now?
You are likely a good candidate for refinancing if any of the following apply to you:
- You took out your home loan more than 3 years ago and have not renegotiated your rate.
- Your current interest rate is above 7.50% p.a.
- Your fixed-rate period has expired and you have rolled onto a variable or repriced rate.
- You were a UCPB borrower and your loan is now held by UnionBank at an older, higher rate.
- You have at least 10 years remaining on your loan term.
- Your outstanding loan balance is at least 1,000,000.
If you are unsure whether refinancing makes sense for your situation, Nook's advisors can run a free savings analysis for you. There is no obligation to proceed.
For more comparisons involving BPI, you may also find our BPI vs Maybank Philippines home loan comparison useful if you are exploring multiple options.
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Compare My Options →Frequently Asked Questions
Is UCPB still offering home loans?
No. UCPB (United Coconut Planters Bank) completed its merger with UnionBank of the Philippines in 2022. UCPB no longer operates as a separate bank, and its home loan products are no longer independently available. Former UCPB borrowers now have their accounts under UnionBank. If you were a UCPB borrower, you may want to consider refinancing your home loan to take advantage of lower rates currently available through Nook.
What is BPI's current home loan interest rate?
BPI Family Savings Bank, a Nook partner bank, currently offers a 1-year fixed rate of 6.70% p.a., a 5-year fixed rate of 6.50% p.a., and a home equity rate of 6.70% p.a. These rates are available when you apply through Nook at no cost to you. Rates are subject to change, so confirm the latest figures with a Nook advisor before applying.
How do I refinance my former UCPB home loan?
If your former UCPB home loan is now held by UnionBank, you are generally free to refinance with another bank once your lock-in period has passed. To refinance, you would apply with a new lender — such as BPI through Nook — and the new bank pays off your existing balance, replacing it with a new loan at a lower interest rate. Nook can guide you through the entire process for free. Start by visiting nook.com.ph to get a free savings estimate.
What are the requirements to refinance with BPI through Nook?
To qualify for a BPI Family Savings Bank home loan through Nook, you generally need a minimum monthly income of 40,000 and a debt-to-income ratio (DTI) of no more than 40%. BPI accepts borrowers who are employed in the private sector, government, BPO industry, self-employed, licensed professionals, OFWs, and seafarers. Typical approval takes around 52 days. Nook's advisors will help you prepare all required documents and check your eligibility before you formally apply.
Is it worth refinancing if I only have a few years left on my home loan?
Generally, refinancing makes the most financial sense when you have a significant portion of your loan term remaining — typically 10 years or more — because the interest savings accumulate over time and can outweigh the transaction costs of switching. If you have fewer years remaining, Nook's advisors can run a free break-even analysis to determine whether refinancing still makes sense in your specific situation. There is no cost or obligation to get this assessment.
How much does it cost to use Nook?
Nook's mortgage brokerage service is completely free for borrowers. Nook is compensated by the partner banks, not by you. You get access to competitive rates, expert advice, and a guided application process at zero cost. There are no hidden fees for using Nook's platform.
What is the difference between a 1-year and 5-year fixed rate home loan?
With a 1-year fixed rate, your interest rate is locked in for the first year of your loan, after which it is repriced based on prevailing bank rates. With a 5-year fixed rate, your rate is locked in for five years, giving you more payment stability and protection against rate increases. BPI's 5-year fixed rate of 6.50% p.a. is actually slightly lower than the 1-year fixed rate of 6.70% p.a., making the 5-year fix an attractive option for borrowers who want predictability and a lower initial rate.