If you have a home loan with CIMB Bank, you could be paying a higher rate than necessary. Refinancing to as low as 5.99% p.a. could save you over 4,800 pesos every single month.
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Why this matters
CIMB Bank entered the Philippine market as a digital-first bank, but their home loan rates are not always the most competitive over the long haul. Many CIMB borrowers find themselves locked into rates of 8% to 10% after their initial fixed period ends — rates that can quietly cost hundreds of thousands of pesos over the remaining life of their loan. Refinancing is the process of transferring your outstanding home loan balance to a new lender offering a lower interest rate, and it is one of the most powerful financial moves a homeowner can make.
Through Nook, you can compare refinancing offers from over a dozen Philippine banks — including BDO, BPI, Security Bank, Metrobank, and more — all in one place. Nook's service is completely free for borrowers; the banks pay a referral fee, so you never pay a centavo to access better rates. On a 3,000,000 peso loan with 20 years remaining, moving from 8.50% to 5.99% translates to roughly 4,850 pesos less per month, or over 873,000 pesos saved across the life of the loan. To understand where rates currently stand across the market, check out current mortgage interest rates in the Philippines before you decide.
The refinancing process typically takes four to eight weeks and requires documents similar to your original home loan application — proof of income, property titles, and loan statements from CIMB. Nook's team guides you through every step, from comparing lender offers to submitting your application, making the transfer as smooth as possible. There is no obligation to proceed after seeing your options, so there is genuinely no downside to finding out how much you could save.
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 to any accredited bank in the Philippines — this is called a loan takeover or refinancing. As long as your account is in good standing and your property qualifies, most major banks will consider your application. Nook can help you identify which banks are most likely to approve your transfer and offer the best rate.
Savings depend on your outstanding balance, remaining term, and the rate difference between your current CIMB loan and the new offer. On a 3,000,000 peso loan refinanced from 8.50% to 5.99% over 20 years, you could save around 4,850 pesos per month and over 873,000 pesos in total. Use Nook's free calculator to get a personalised estimate based on your specific loan details.
Yes, there are standard costs to be aware of: CIMB may charge a pre-termination fee if your loan is still within its lock-in period, and the new bank will require appraisal fees, documentary stamp tax, and processing charges. These one-time costs are typically recovered within 12 to 18 months of lower monthly payments. Nook will give you a clear breakdown of all costs so you can calculate your true net savings.
You will need your latest CIMB loan statement, original Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), proof of income such as payslips or ITR, and a copy of your property's tax declaration. Employed borrowers and self-employed borrowers have slightly different requirements — Nook's team will send you a personalised checklist once you submit your details. The process is straightforward and similar to your original loan application.
The most competitive refinancing rates currently available through Nook start at 5.99% p.a., offered by select Philippine banks depending on your loan amount, term, and borrower profile. Banks like BPI, Security Bank, and BDO are frequently competitive for refinancing takeovers. Rather than approaching banks one by one, Nook compares multiple offers simultaneously so you get the best deal without the legwork.
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