Thousands of Filipino homeowners are switching from Chinabank to BDO's 6.00% fixed rate — and saving tens of thousands of pesos every year. Find out if refinancing is right for you, completely free through Nook.
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Why this matters
If you took out a Chinabank home loan a few years ago, chances are your current interest rate is somewhere between 7.5% and 9.5% — a range typical of standard repricing cycles at many Philippine banks. While Chinabank offers solid home loan products, rates available in the market have shifted significantly, and staying with your existing loan without reviewing your options could be costing you hundreds of thousands of pesos over the remaining life of your mortgage. Please note that Chinabank rates shown here are approximate, based on publicly available information, and subject to change — always verify current rates directly with the bank.
BDO, one of Nook's verified partner banks, is currently offering a 1-year fixed rate of 6.00% p.a. for refinancing — one of the most competitive rates available in the Philippine market today. For a ₱3,000,000 loan with 20 years remaining, that rate difference can translate to over ₱4,500 in monthly savings and more than ₱800,000 in total interest saved over the life of the loan. If you want to see how BDO stacks up in detail, check out our BDO vs Chinabank home loan rates comparison for a side-by-side breakdown of terms, eligibility, and processing requirements.
The good news is that switching banks doesn't have to be complicated or expensive. Nook is the Philippines' first digital mortgage broker, and our service is 100% free to borrowers. We handle the paperwork, coordinate with BDO on your behalf, and help you secure the best available rate — all without charging you a single peso in broker fees. Whether you're a salaried employee, an OFW, or self-employed, BDO accepts a wide range of employment types and requires a minimum monthly income of ₱50,000. Typical approval takes around 30 days, making this one of the more streamlined refinancing experiences available today.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
Yes, absolutely. Refinancing from one bank to another — sometimes called a bank switch or loan takeout — is a standard and legal process in the Philippines. BDO will pay off your remaining Chinabank balance and issue you a new loan at BDO's current rates. Nook can guide you through every step of this process at no cost to you.
As a Nook verified partner bank, BDO is currently offering a 1-year fixed rate of 6.00% p.a. for refinancing. This is one of the most competitive rates available in the Philippine market right now. Rates are subject to change, so we recommend starting your application soon to lock in today's rate.
There are some standard fees involved in any refinancing — such as appraisal fees, documentary stamp tax, and registration costs — but Nook's broker service is completely free to you as the borrower. You should also check your Chinabank loan agreement for any early repayment or pre-termination penalties that may apply before switching.
BDO accepts a broad range of borrower profiles including private employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and licensed professionals. The minimum monthly income requirement is ₱50,000, and BDO applies a maximum debt-to-income ratio of 40%. Your property must also meet BDO's standard appraisal and collateral requirements.
Nook earns a referral fee directly from the bank — similar to how a real estate broker earns a commission from a developer, not the buyer. This means you get expert mortgage guidance, rate comparison across multiple lenders, and full application support without paying anything out of pocket. You can also explore options beyond BDO — see our BDO vs Chinabank vs Robinsons Bank comparison to see all your refinancing options side by side.
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