CIMB vs First Metro Investment: Home Loan Overview
CIMB Bank Philippines has built a reputation as a digital-forward lender, known for its streamlined app-based experience and competitive deposit products. Its home loan arm targets borrowers who value convenience and speed. First Metro Investment Corporation (FMIC), on the other hand, is the investment banking arm of the Metrobank Group and offers home financing products primarily through its subsidiary channels, often catering to a more structured, relationship-driven clientele.
Understanding these differences in positioning helps explain why their home loan offerings — rates, flexibility, and processing approach — can vary considerably. Below we compare them across the factors that matter most for refinancing.
Interest Rates Compared
Interest rate is the single biggest driver of your monthly amortization and total loan cost over time. Here's how CIMB and First Metro Investment stack up:
| Feature | CIMB | First Metro Investment |
|---|---|---|
| Indicative Fixed Rate (1-year) | ~7.50% p.a. | ~7.75% p.a. |
| Indicative Fixed Rate (3-year) | ~7.75% p.a. | ~8.00% p.a. |
| Indicative Fixed Rate (5-year) | ~8.25% p.a. | ~8.50% p.a. |
| Rate Type | Fixed, then repricing | Fixed, then repricing |
| Repricing Frequency | Annual after fixed period | Annual after fixed period |
Key takeaway: CIMB tends to edge out First Metro Investment on headline rates, but both lenders are notably higher than the 5.99% p.a. available through Nook. On a 3,000,000-peso loan over 20 years, the difference between 7.75% and 5.99% translates to roughly 3,200 pesos less per month — that's over 38,000 pesos in savings every year.
If you're also weighing other digital bank options, our CIMB vs PBCOM home loan comparison offers additional context on how CIMB rates stack up against another mid-market lender.
Loan Amount and Term Flexibility
| Feature | CIMB | First Metro Investment |
|---|---|---|
| Minimum Loan Amount | ~500,000 | ~1,000,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 70–80% of appraised value |
| Minimum Loan Term | 5 years | 5 years |
| Maximum Loan Term | 20 years | 20 years |
| Eligible Property Types | Residential (house & lot, condo) | Residential (house & lot, condo) |
CIMB's lower minimum loan amount makes it accessible to a wider range of borrowers. First Metro Investment's offerings are better suited to borrowers with larger, more established portfolios who prefer the backing of the Metrobank Group's institutional credibility. For refinancing purposes, most homeowners with existing loans of 1,500,000 to 10,000,000 pesos will find both lenders technically eligible — but eligibility alone doesn't mean you're getting the best deal.
Fees and Charges
Beyond the interest rate, fees can add tens of thousands of pesos to the cost of refinancing. Here's what to watch out for:
| Fee | CIMB | First Metro Investment |
|---|---|---|
| Processing Fee | ~5,000–10,000 (varies) | ~10,000–15,000 (varies) |
| Appraisal Fee | Borrower-paid, ~3,500–5,000 | Borrower-paid, ~5,000–7,000 |
| Documentary Stamp Tax | Borrower-paid | Borrower-paid |
| Mortgage Registration Fee | Borrower-paid | Borrower-paid |
| Early Repayment Penalty | Applies within fixed period | Applies within fixed period |
| Annual Service Fee | None reported | None reported |
First Metro Investment's processing and appraisal fees tend to run slightly higher, which is typical of investment bank-linked lenders that offer more bespoke service. CIMB's digital-first model keeps some upfront costs lower, though borrowers should always confirm current fee schedules directly before applying. When you refinance through Nook, our service is completely free — Nook is compensated by the bank, not the borrower.
Application Process and Speed
| Factor | CIMB | First Metro Investment |
|---|---|---|
| Online Application | Yes, fully digital | Partial (may require in-person steps) |
| Loan Officer Support | Primarily digital support | Dedicated relationship manager |
| Approval Timeline | ~5–10 banking days | ~7–15 banking days |
| Document Requirements | Standard (payslips, ITR, title) | Standard (payslips, ITR, title) |
| Refinancing Experience | Moderate | Moderate |
CIMB's digital-first approach appeals to borrowers who want to avoid branch visits and lengthy back-and-forth. First Metro Investment's relationship manager model may suit borrowers who prefer guided, hands-on assistance — particularly those with more complex property or income situations. Neither lender is known as a specialist in home loan refinancing the way a dedicated mortgage broker is. For a broader look at how newer digital lenders compare in this space, see our Asia United Bank vs Tonik home loan comparison.
Monthly Amortization Comparison
To make this concrete, here's how monthly payments compare at different loan amounts, using indicative 5-year fixed rates and a 20-year term:
| Loan Amount | CIMB (~8.25%) | First Metro (~8.50%) | Nook Best Rate (5.99%) |
|---|---|---|---|
| 2,000,000 | ~17,020/mo | ~17,356/mo | ~14,319/mo |
| 4,000,000 | ~34,040/mo | ~34,712/mo | ~28,638/mo |
| 6,000,000 | ~51,060/mo | ~52,068/mo | ~42,957/mo |
| 8,000,000 | ~68,080/mo | ~69,424/mo | ~57,276/mo |
On a 6,000,000-peso loan, choosing Nook's 5.99% rate over First Metro Investment's ~8.50% saves approximately 9,111 pesos every single month — that's 109,332 pesos per year, and over 2,000,000 pesos across a 20-year term. These are real, material savings that compound over time.
Who Should Choose CIMB?
- Borrowers who prefer a fully digital application experience with minimal branch visits
- Those with smaller loan amounts (under 2,000,000) who may find CIMB's minimum more accessible
- Borrowers who prioritize faster turnaround times and are comfortable with app-based communication
- Existing CIMB customers who may receive relationship-based rate incentives
Who Should Choose First Metro Investment?
- Borrowers who value the institutional backing of the Metrobank Group
- Those who prefer a dedicated relationship manager throughout the process
- Borrowers with more complex financial profiles who want guided support
- Existing Metrobank Group clients who may qualify for preferential treatment
The Smarter Alternative: Refinance Through Nook
Whether CIMB or First Metro Investment might seem like the right fit, the smartest first move is to check what rate you actually qualify for across multiple lenders simultaneously. Nook does exactly that — for free. Instead of applying to one bank, hoping for a good rate, and starting over if you're disappointed, Nook matches your profile against the Philippines' leading home lenders and surfaces the best available offer.
With rates starting at 5.99% p.a., the savings compared to either CIMB or First Metro Investment can be substantial. There are no fees to you, no obligation, and no paperwork until you've chosen an offer you're happy with.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
Is CIMB or First Metro Investment better for home loan refinancing?
It depends on your priorities. CIMB offers a more digital, streamlined experience and tends to have slightly lower headline rates. First Metro Investment suits borrowers who want relationship-based support and the credibility of the Metrobank Group. That said, both typically offer rates well above the 5.99% p.a. available through Nook, so comparing via a mortgage broker before committing to either is strongly recommended.
What are the current home loan rates at CIMB and First Metro Investment?
Indicative rates at CIMB start at around 7.50% p.a. for a 1-year fixed period, rising to approximately 8.25% for a 5-year fix. First Metro Investment's indicative rates are slightly higher, starting around 7.75% for 1 year and approximately 8.50% for 5 years. Rates are subject to change and depend on your creditworthiness, loan amount, and property type. Through Nook, borrowers can access rates starting at 5.99% p.a.
How much can I save by refinancing from CIMB or First Metro Investment to a lower rate?
The savings can be significant. On a 4,000,000-peso loan over 20 years, refinancing from 8.25% (CIMB) to 5.99% saves roughly 5,402 pesos per month — or about 64,824 pesos per year. From First Metro Investment's 8.50%, the monthly savings are even greater, at around 6,074 pesos. Over a full loan term, this can amount to over 1,000,000 pesos in total interest savings.
Does First Metro Investment offer home loans directly?
First Metro Investment Corporation is primarily an investment banking entity under the Metrobank Group. Its home financing products may be offered through affiliated channels or specific product arrangements. It's important to confirm directly whether FMIC or a related Metrobank entity is the actual lending party on your loan, as this affects your refinancing options and documentation requirements.
How long does it take to get approved for a refinance with CIMB vs First Metro Investment?
CIMB typically processes refinance applications in approximately 5 to 10 banking days given its digital-first infrastructure. First Metro Investment's more relationship-driven process can take 7 to 15 banking days depending on document completeness and property complexity. When you apply through Nook, our team helps you prepare documents properly from the start, reducing back-and-forth delays regardless of which lender you're matched with.
Is Nook's refinancing service really free for borrowers?
Yes, completely. Nook is compensated directly by the lending bank when a loan is successfully facilitated — not by you. You pay nothing to use Nook's comparison platform, get a rate match, or receive application support. This means you can explore your best refinance options with zero financial risk or obligation.
Can I refinance my CIMB home loan to another bank through Nook?
Yes. If you currently have a home loan with CIMB and believe you're paying too much, Nook can help you refinance to a competing lender offering a better rate. The process involves discharging your existing mortgage with CIMB and establishing a new one with your chosen lender. Nook guides you through every step of this process at no cost to you.
What documents do I need to refinance with CIMB or First Metro Investment?
Both lenders generally require the same core documents: a valid government-issued ID, Certificate of Employment and latest payslips (for employed borrowers) or ITR and audited financial statements (for self-employed), your existing loan statement of account, Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), tax declaration, and a copy of your latest real property tax receipt. Nook provides a complete document checklist tailored to your specific situation when you sign up.