If you originally took out a CIMB Bank home loan and have since moved or invested in Philippine property, you may be paying far more than necessary — Nook can help you refinance to Philippine bank rates as low as 5.99% p.a.
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Why this matters
CIMB Bank is a well-known Malaysian financial institution that has expanded its presence across Southeast Asia, including the Philippines. Some Filipino homeowners and OFWs who previously held CIMB-originated housing loans — or who financed Philippine property through foreign-linked products — now find themselves locked into rates that no longer reflect the competitive landscape of the local mortgage market. If your current home loan rate sits anywhere between 7% and 10%, there is a strong chance that refinancing through a Philippine bank could deliver significant monthly relief. You can check current mortgage interest rates in the Philippines to see exactly how your existing rate compares to what lenders are offering today.
Refinancing a loan with a cross-border or foreign-linked origin can feel complicated, but Nook simplifies the entire process. As the Philippines' first digital mortgage broker, Nook connects you with multiple Philippine banks — including BDO, BPI, Security Bank, Metrobank, and others — and identifies which lender will offer you the lowest rate for your specific loan profile. The service is completely free to you as the borrower; Nook earns a referral fee from the bank you choose. On a 3,000,000 peso loan balance with a remaining 20-year term, switching from a rate of 8.50% to Nook's best available rate of 5.99% could save you over 4,500 pesos every single month.
Whether your property is in Metro Manila, Cebu, or a provincial city, Nook's platform is designed to handle the nuances of your situation — including documentation requirements that may differ when a loan has international origins. Once approved, your new Philippine bank pays off your existing obligation, and you begin making lower monthly payments immediately. The process typically takes four to eight weeks from application to loan release, and Nook's team guides you through every step so you are never left guessing what comes next.
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, as long as the property securing the loan is located in the Philippines and you meet the eligibility requirements of the receiving Philippine bank. The new lender will appraise your property, assess your income, and settle the outstanding balance with your current lender directly. Nook helps match you with the bank most likely to approve your specific situation.
Nook works with a broad panel of Philippine banks including BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, PSBank, EastWest Bank, and Robinsons Bank, among others. Each lender has different rate structures and qualification criteria, which is why comparing multiple offers — as Nook does on your behalf — is so important. The goal is to find you the lowest rate you actually qualify for, not just the lowest advertised rate.
On a 3,000,000 peso balance with 20 years remaining, moving from 8.50% to 5.99% reduces your monthly payment by roughly 4,572 pesos — that is over 54,000 pesos saved in the first year alone and potentially more than 800,000 pesos across the remaining loan term. Your actual savings will depend on your specific remaining balance, term, and the rate you qualify for through Nook's partner banks.
Yes, Nook charges borrowers nothing for its mortgage brokering service. Nook earns a referral commission from the bank that ultimately provides your new loan, which means you get expert guidance, rate comparisons, and application support at zero cost to you. There are standard third-party costs involved in any refinancing — such as appraisal fees, notarial fees, and registration costs — but Nook is transparent about these upfront.
You will generally need proof of income (payslips, ITR, or business financials), valid government-issued IDs, the title to your Philippine property, a statement of account from your current lender showing the outstanding balance, and recent property tax receipts. If your original loan has any cross-border documentation, Nook's team will advise you on what Philippine banks require in that specific scenario. Reviewing BPI's housing loan requirements gives you a useful benchmark for the standard documents most Philippine banks will ask for.
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