BPI vs UnionBank Home Loan Rates at a Glance (2026)
Both BPI Family Savings Bank and UnionBank are Nook partner banks, meaning you can apply to either — or both — completely free through Nook's digital mortgage broker platform. Below is a direct comparison of their published home loan interest rates.
| Fixing Period | BPI Family Savings Bank | UnionBank |
|---|---|---|
| 1-Year Fixed | 6.70% p.a. | 7.00% p.a. |
| 5-Year Fixed | 6.50% p.a. | Not available |
| Home Equity | 6.70% p.a. | 7.00% p.a. |
Interest rates are subject to change. Always verify current rates with the bank or through your Nook mortgage advisor before finalising your application.
Monthly Payment Comparison: BPI vs UnionBank
To make the numbers real, here's what your estimated monthly payment would look like on a P3,000,000 home loan over 20 years at each bank's rates. These figures are for illustration purposes only and do not include taxes, insurance, or processing fees.
| Scenario | Loan Amount | Rate | Term | Est. Monthly Payment |
|---|---|---|---|---|
| BPI – 1-Year Fixed | 3,000,000 | 6.70% p.a. | 20 years | ~22,716 |
| BPI – 5-Year Fixed | 3,000,000 | 6.50% p.a. | 20 years | ~22,348 |
| UnionBank – 1-Year Fixed | 3,000,000 | 7.00% p.a. | 20 years | ~23,259 |
On a P3,000,000 loan, choosing BPI's 5-year fixed rate over UnionBank's 1-year fixed rate saves you approximately 911 per month — that's over 10,000 per year in savings during the fixed period. Over a full 5-year fixing period, that difference compounds to more than 54,000 in interest savings.
If you're currently paying 8% or more with another lender, refinancing to either BPI or UnionBank through Nook could dramatically reduce your monthly burden. Through Nook, the best available refinance rate starts at just 5.99% p.a.
Eligibility Requirements Compared
Understanding which bank you qualify for is just as important as finding the lowest rate. Here's how BPI Family Savings Bank and UnionBank stack up on key eligibility criteria.
| Criteria | BPI Family Savings Bank | UnionBank |
|---|---|---|
| Minimum Monthly Income | P40,000 | P30,000 |
| Maximum Debt-to-Income (DTI) | 40% | 50% |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional |
| Typical Approval Time | ~52 days | Varies |
Key takeaway: If your monthly income is between P30,000 and P39,999, UnionBank may be your only option of the two. If your income exceeds P40,000, you qualify for both — and BPI's lower rates make it the stronger candidate. UnionBank's higher DTI ceiling of 50% also means borrowers carrying existing debt obligations may find it easier to qualify.
Loan Purposes: What Can Each Bank Finance?
Both banks cover a wide range of home loan purposes, with a few notable differences.
| Loan Purpose | BPI Family Savings Bank | UnionBank |
|---|---|---|
| Refinancing | ✓ | ✗ (not listed) |
| Home Equity / Loan Against Property | ✓ | ✓ |
| Ready For Occupancy (RFO) | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ |
| New Construction | ✓ | ✓ |
| Renovation | ✓ | ✓ |
| Reselling | ✓ | ✓ |
| Foreclosed Properties | ✓ | ✓ |
Important for refinancers: BPI Family Savings Bank explicitly supports home loan refinancing, making it the clear choice if your goal is to refinance an existing mortgage to a lower rate. If you're unsure which bank is the right fit for your refinancing goals, you can explore the full BPI vs UnionBank refinancing comparison on Nook for a deeper breakdown.
Fixing Period Options: Stability vs Flexibility
One of the most important decisions in a Philippine home loan is your fixing period — the length of time your interest rate is locked in before it reprices.
- BPI Family Savings Bank offers both a 1-year and a 5-year fixed rate option, giving borrowers genuine choice. The 5-year fix at 6.50% is particularly attractive for borrowers who want payment certainty and protection against rising rates.
- UnionBank currently offers a 1-year fixed rate only (at 7.00%), which means your rate will reprice annually. This introduces more uncertainty and potential for higher payments if market rates rise.
For most homeowners focused on long-term affordability and stability, BPI's 5-year fixed option is a significant advantage. That said, UnionBank's 1-year fix may suit borrowers who anticipate repaying or refinancing their loan within a short period.
Applying Through Nook: Free, Fast, and Unbiased
Nook is the Philippines' first digital mortgage broker, and applying through Nook costs you absolutely nothing. Nook's team of mortgage advisors can submit your application to BPI Family Savings Bank, UnionBank, or multiple banks simultaneously — so you can compare real offers side by side before committing.
This is especially valuable if you're refinancing. Many Filipino homeowners are currently paying 7% to 10% on their existing home loans. Switching to a Nook partner bank could unlock rates as low as 5.99% p.a., potentially saving you hundreds of thousands of pesos over the life of your loan.
For a broader view of how these two banks compare across different scenarios, see the UnionBank vs BPI housing loan requirements and rates comparison on Nook.
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Compare My Options →Frequently Asked Questions
Which bank has a lower home loan interest rate — BPI or UnionBank?
BPI Family Savings Bank currently offers lower rates than UnionBank. BPI's 5-year fixed rate is 6.50% p.a. and its 1-year fixed rate is 6.70% p.a., while UnionBank's 1-year fixed rate is 7.00% p.a. On a P3,000,000 loan over 20 years, BPI's 5-year fixed option saves approximately 911 per month compared to UnionBank's 1-year rate. Note that interest rates are subject to change — verify current rates with each bank or through Nook before applying.
What is the minimum income requirement for a BPI home loan versus UnionBank?
BPI Family Savings Bank requires a minimum monthly income of P40,000, while UnionBank requires only P30,000. This makes UnionBank more accessible for borrowers with lower income levels. Both banks accept a wide range of employment types including salaried employees, self-employed professionals, OFWs, and government workers.
Can I use BPI or UnionBank to refinance my existing home loan?
BPI Family Savings Bank explicitly supports home loan refinancing as a loan purpose. UnionBank's listed loan purposes do not currently include refinancing, making BPI the stronger option if you are looking to refinance an existing mortgage. Through Nook, you can apply to refinance with BPI Family Savings Bank for free and potentially access rates as low as 5.99% p.a.
Does UnionBank offer a 5-year fixed home loan rate?
No. Based on current data, UnionBank offers a 1-year fixed rate of 7.00% p.a. for home loans. BPI Family Savings Bank, by contrast, offers both a 1-year fixed rate (6.70%) and a 5-year fixed rate (6.50%), giving borrowers greater flexibility and the option for longer-term rate stability.
Which bank is better for home equity loans — BPI or UnionBank?
Both banks offer home equity loan products. BPI Family Savings Bank's home equity rate is 6.70% p.a., while UnionBank's is 7.00% p.a. BPI's lower rate makes it the better value for most borrowers seeking to leverage their property's equity. However, if your monthly income is below P40,000, UnionBank may be the more accessible option since it only requires P30,000 minimum income.
How long does BPI take to approve a home loan?
BPI Family Savings Bank has a typical approval timeline of approximately 52 days from complete document submission. This is a standard processing time for Philippine home loans. Applying through Nook can help streamline this process, as Nook's advisors assist with document preparation and follow up with the bank on your behalf.
Is it free to apply for a home loan through Nook?
Yes. Nook's mortgage brokering service is 100% free for borrowers. You pay nothing to Nook for comparing rates, submitting applications, or receiving mortgage advice. Nook is compensated by the partner banks only when a loan is successfully disbursed — at no additional cost to you.
What DTI ratio does BPI allow compared to UnionBank?
BPI Family Savings Bank allows a maximum debt-to-income (DTI) ratio of 40%, while UnionBank allows up to 50%. If you have existing loan obligations — such as a car loan or personal loan — UnionBank's higher DTI threshold means you may qualify for a larger home loan amount, or simply have a better chance of approval even with existing debts.