BPI vs UnionBank

BPI vs UnionBank Home Loan: Rate Comparison

Both BPI Family Savings Bank and UnionBank are Nook partner banks, meaning you can apply to either — or both — through Nook's free broker service. Here's how their published home loan rates compare:

Interest rates are subject to change. Please verify current rates with each bank or through your Nook advisor before applying.

Monthly Repayment Comparison: How Much Could You Save?

To illustrate the real-world impact of these rate differences, here's a side-by-side monthly repayment estimate on a 3,000,000 home loan over 20 years:

That's an estimated difference of around 213,360 in total interest over 20 years — simply by choosing BPI's 5-year fixed product through Nook. Of course, your actual repayment will depend on your final approved rate, loan tenure, and any applicable fees.

If you're currently paying 8% or more with another bank, refinancing to either BPI or UnionBank through Nook could yield even greater savings. Many Filipino homeowners are still on rates between 7% and 10% — refinancing is one of the fastest ways to reduce your monthly outgoings.

Eligibility Requirements: BPI vs UnionBank

Qualifying criteria differ between the two banks, and this can be a deciding factor for many borrowers. Here's a quick breakdown:

UnionBank is notably more accessible for borrowers with lower incomes or existing debt obligations. With a minimum monthly income of just 30,000 and a DTI ceiling of 50%, more applicants may qualify. BPI's 40,000 minimum and 40% DTI threshold are stricter — but in exchange, BPI offers lower interest rates and more fixed-rate term options.

Employment Types Accepted

Both banks accept a wide range of employment types, making them suitable for most Filipino borrowers:

Whether you're an OFW, a salaried employee, or running your own business, both BPI and UnionBank have pathways for you. Nook's advisors can help determine which bank is more likely to approve your application based on your specific employment profile.

Loan Purposes Covered

BPI Family Savings Bank supports a slightly broader range of loan purposes than UnionBank:

If you're looking to refinance your existing home loan, BPI is the clear choice — UnionBank does not currently offer refinancing through Nook. For all other purposes, both banks are competitive options worth comparing. You can also check out our BPI vs Chinabank home loan comparison if you'd like to explore more alternatives alongside BPI.

Why Apply Through Nook Instead of Going Direct?

Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers. Here's what you get when you apply through Nook instead of walking into a bank branch:

• Compare multiple banks at once — no need to fill out separate applications for BPI and UnionBank individually.
• Expert guidance — Nook advisors help you understand which bank suits your income, employment type, and loan purpose.
• Faster processing support — we liaise with the bank on your behalf to keep your application moving.
• Zero broker fees — Nook is paid by the bank, not by you.

Whether you're a first-time buyer, an OFW sending money home to service a mortgage, or an existing homeowner looking to reduce monthly payments through refinancing, Nook makes the process simpler and more transparent. If you're also considering other BPI alternatives, our BPI vs Maybank Philippines comparison is worth a read.