If your CIMB home loan is locked in at a higher rate, you could be overpaying by thousands every month. Nook helps you switch to the lowest rates available — completely free.
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Why this matters
CIMB Bank entered the Philippine market as a digital-first institution, and while its home loan products attracted borrowers with streamlined online applications, many customers find themselves repriced to higher rates after their initial fixed period ends. If your CIMB home loan has rolled onto a variable or repriced rate — often ranging from 8% to 9.5% — you may be paying significantly more than necessary. Current mortgage interest rates in the Philippines are now as low as 5.99% p.a. through traditional banks, making refinancing a financially compelling move.
Refinancing your CIMB home loan means transferring your outstanding balance to a new lender at a lower interest rate. For a loan of 3,000,000 pesos on a 20-year remaining term, dropping from 8.50% to 5.99% can reduce your monthly amortisation by over 3,800 pesos. That compounds into real wealth over time — money that stays in your pocket instead of going to interest charges. Nook works with a wide panel of Philippine banks including BDO, BPI, Security Bank, RCBC, and Metrobank to find you the most competitive offer available.
Because CIMB operates primarily as a digital bank, some traditional lenders may not be familiar with refinancing loans from that institution — but Nook handles this process daily. Our mortgage specialists know exactly which banks accept CIMB loan transfers, what documentation you'll need, and how to fast-track your application. Best of all, Nook's service is 100% free to you as the borrower. There are no broker fees, no hidden charges — just a better rate and lower monthly payments.
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, you can transfer your CIMB home loan balance to a traditional Philippine bank such as BDO, BPI, Security Bank, or RCBC. The process is called a loan takeover or refinancing, and Nook specialises in matching CIMB borrowers with banks that offer the most competitive rates. We handle the paperwork and bank coordination on your behalf at no cost.
Through Nook, the lowest available refinance rate is currently 5.99% p.a. for qualified borrowers. The exact rate offered to you will depend on your property value, outstanding loan balance, income, and the lender's current pricing. Even moving from CIMB's repriced rate of 8% to 9% down to 6% to 7% can result in substantial monthly savings.
CIMB may impose pre-termination or early settlement fees depending on your loan agreement, typically applied if you refinance within a fixed-rate lock-in period. It is important to review your loan documents or contact CIMB directly to confirm any applicable charges before proceeding. Nook can help you calculate whether the savings from a lower rate outweigh any exit penalties.
The typical refinancing process in the Philippines takes between 30 and 60 days from application to loan release, depending on the receiving bank and how quickly documents are submitted. Nook works to streamline the process by preparing your application correctly from the start and liaising with lenders on your behalf. We'll keep you updated at every step.
Standard requirements include your CIMB loan statement of account, property title (TCT or CCT), tax declaration, latest income documents such as payslips or ITR, and government-issued identification. If you're refinancing to BPI, you can review the BPI housing loan requirements as a useful reference for what a typical bank will ask for. Nook provides a complete personalised checklist once you start your application.
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