Thousands of Filipino homeowners are still paying 8% or higher on their CIMB housing loan. Nook can help you switch to as low as 5.99% p.a. — for free.
YOUR POTENTIAL SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
CIMB Bank entered the Philippine market as a digital-first challenger bank, and many borrowers were drawn in by their early promotional rates. But like most fixed-rate home loans in the Philippines, those teaser periods eventually expire — and what you're left with is a repriced rate that can climb well above 8%. If you haven't reviewed your loan terms recently, there's a real chance you're overpaying by tens of thousands of pesos every year without realising it. You can check how your rate stacks up against the competition by reviewing current mortgage interest rates in the Philippines.
Refinancing means replacing your existing CIMB housing loan with a new one from a different lender — one offering a lower interest rate. On a 3,000,000 peso loan with 20 years remaining, moving from 8.50% to 5.99% reduces your monthly payment by over 3,000 pesos. That's more than 36,000 pesos back in your pocket every year. Nook works with leading Philippine banks including BDO, BPI, Security Bank, Metrobank, RCBC, and others to find you the best available rate based on your profile.
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We handle the comparison, paperwork coordination, and bank submissions on your behalf — so you don't have to approach each lender individually. The process is straightforward: fill out one application, and we do the legwork. Most clients see a formal bank offer within a few weeks. Whether your CIMB loan is nearing its repricing date or you've already been hit with a higher rate, now is a good time to act.
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 refinance your CIMB housing loan to any participating bank in the Philippines. Refinancing is simply the process of taking out a new home loan with a different lender to pay off your existing one at a lower rate. Nook helps you compare offers from multiple banks and handles the application process at no cost to you.
The best time to refinance is typically just before your current fixed-rate period ends, when your loan is about to be repriced at a potentially higher rate. If your CIMB loan has already been repriced and you're now on a floating or higher fixed rate, refinancing immediately can still deliver significant savings. Check your loan documents or contact CIMB to confirm your repricing schedule.
Nook's service is 100% free — we are paid by the bank, not the borrower. However, refinancing itself does involve standard fees such as appraisal, notarial, and registration costs, which vary by bank and loan amount. These one-time costs are typically recovered within the first year of lower monthly payments, making refinancing worthwhile in most cases.
Standard requirements include a copy of your existing loan statement from CIMB, proof of income (payslips or ITR for the past two years), a copy of the property title, and valid government-issued IDs. Nook will give you a personalised checklist once you start your application. If you want to compare requirements across banks, the BPI housing loan requirements guide is a useful reference for what Philippine banks typically ask for.
On a 3,000,000 peso loan with 20 years remaining, switching from 8.50% to 5.99% saves approximately 3,070 pesos per month — that's over 552,000 pesos across the remaining loan term. Your actual savings depend on your outstanding balance, remaining term, and the rate you qualify for. Use Nook's free calculator to get a personalised estimate based on your specific loan details.
Check your exact savings in 60 seconds. It's free and takes no commitment.
Check My Savings Now →