CIMB vs PSBank: Home Loan Overview
CIMB Bank Philippines has built a reputation as a digital-first challenger bank, offering competitive deposit and lending products through its app-based platform. PSBank (Philippine Savings Bank), the thrift banking arm of the Metrobank Group, is one of the Philippines' most established savings banks with a long track record in consumer home lending.
Both institutions offer home loan and refinancing products, but their approaches, rate structures, and processes differ in meaningful ways. Below, we compare the key factors Filipino homeowners should evaluate before choosing where to refinance.
Note: All rates shown for CIMB and PSBank are approximate, based on publicly available information, and are subject to change without notice. Always verify current rates directly with the bank before making a decision.
Interest Rate Comparison
| Feature | CIMB | PSBank | Nook (Best Available) |
|---|---|---|---|
| Starting Rate (p.a.) | ~7.00% | ~7.50% | 5.99% |
| Typical Rate Range | 7.00%–9.50% | 7.50%–10.00% | 5.99% and up |
| Rate Type | Fixed then variable | Fixed then variable | Varies by lender |
| Rate Fixing Periods | 1, 2, 3, 5 years | 1, 2, 3, 5 years | Multiple options |
| Rate Verified | Approximate only | Approximate only | Verified by Nook |
On paper, CIMB's digital-first model can sometimes translate to leaner overhead and potentially more competitive pricing. PSBank, backed by the Metrobank Group, offers stability and branch network access. However, neither bank's advertised rates come close to the 5.99% p.a. currently available through Nook's partner lenders.
To see how PSBank compares against other lenders in its peer group, you may also want to read our PBCOM vs PSBank home loan comparison.
Monthly Repayment Illustration
The table below shows estimated monthly repayments on a 3,000,000 peso home loan over a 20-year term at different interest rates. This illustrates how much a lower rate can save you each month.
| Interest Rate | Monthly Repayment | Total Interest Paid |
|---|---|---|
| 5.99% (Nook best rate) | ~21,474 | ~2,153,760 |
| 7.00% (CIMB approx.) | ~23,259 | ~2,582,160 |
| 7.50% (PSBank approx.) | ~24,168 | ~2,800,320 |
| 9.00% (higher-end estimate) | ~26,992 | ~3,478,080 |
On a 3,000,000 peso loan, refinancing from PSBank's approximate 7.50% rate to Nook's best rate of 5.99% could save you approximately 2,694 pesos every single month — that's over 646,560 pesos across 20 years.
Loan Terms and Eligibility
| Feature | CIMB | PSBank |
|---|---|---|
| Minimum Loan Amount | ~500,000 | ~500,000 |
| Maximum Loan Amount | Up to 80% of property value | Up to 80% of property value |
| Loan Tenure | Up to 20 years | Up to 20 years |
| Eligible Borrowers | Filipino citizens, OFWs | Filipino citizens, OFWs |
| Minimum Age | 21 years old | 21 years old |
| Maximum Age at Loan End | ~65 years old | ~70 years old |
| Property Types | House and lot, condo, townhouse | House and lot, condo, townhouse |
Eligibility criteria are based on publicly available information and are subject to change. Contact CIMB or PSBank directly to confirm current requirements.
Fees and Charges
| Fee Type | CIMB | PSBank |
|---|---|---|
| Processing Fee | ~5,000–10,000 (approx.) | ~5,000–10,000 (approx.) |
| Appraisal Fee | Charged to borrower | Charged to borrower |
| Documentary Stamp Tax | Borrower's account | Borrower's account |
| Mortgage Registration Fee | Borrower's account | Borrower's account |
| Early Repayment Penalty | May apply within fixed period | May apply within fixed period |
| Broker Fee (via Nook) | Not applicable | Not applicable |
Fees can add up significantly when refinancing. Nook's service is 100% free to borrowers — Nook is compensated by the lender, not you. This means you get professional loan matching and application support at no extra cost.
Application Process
| Feature | CIMB | PSBank | Via Nook |
|---|---|---|---|
| Online Application | Yes (app-based) | Yes (limited) | Yes, fully digital |
| Branch Visit Required | May be required | Often required | Not required |
| Multiple Lender Comparison | No | No | Yes — Nook shops for you |
| Dedicated Loan Advisor | Not typically | Not typically | Yes, assigned advisor |
| Processing Time | 2–6 weeks (approx.) | 2–6 weeks (approx.) | Streamlined, varies by lender |
CIMB's digital-native platform means the early stages of application are app-friendly, but more complex refinancing cases may still require document submission and in-person interaction. PSBank's process tends to be more traditional, centered around branch-based processing.
With Nook, you submit your details once and Nook's advisors match you to the best available lender from their panel — saving you the time of applying to multiple banks individually.
Refinancing with Nook vs Going Direct
When you refinance directly with CIMB or PSBank, you only see one set of rates — theirs. You have no way of knowing whether a better deal exists elsewhere unless you manually apply to multiple banks, which is time-consuming and can affect your credit profile.
Nook is the Philippines' first digital mortgage broker. By working with Nook, you:
- Get matched to the lowest available rate from Nook's lender panel
- Access rates as low as 5.99% p.a. — lower than typical bank advertised rates
- Pay zero broker fees — the service is completely free to borrowers
- Have a dedicated advisor guide you through the entire process
- Submit documents once, not multiple times to different banks
If you're also researching PSBank against other savings banks, our PSBank vs SB Finance home loan comparison covers another popular alternative in the same tier.
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Compare My Options →Frequently Asked Questions
Is CIMB or PSBank better for a home loan in the Philippines?
Both CIMB and PSBank offer home loans to Filipino borrowers, but the better choice depends on your loan amount, property type, and eligibility profile. CIMB leans digital-first, while PSBank offers the backing of the Metrobank Group. That said, neither bank may offer the most competitive rate available — through Nook, qualified borrowers can access rates as low as 5.99% p.a. at no broker cost.
What are CIMB's current home loan interest rates?
CIMB's home loan interest rates are approximately 7.00% to 9.50% p.a. based on publicly available information, but these figures are indicative and subject to change. We recommend contacting CIMB directly or speaking with a Nook advisor to get verified current rates.
What are PSBank's current home loan interest rates?
PSBank's home loan interest rates are approximately 7.50% to 10.00% p.a. based on publicly available information. Rates vary depending on your loan amount, term, and fixing period. Always confirm the latest rates with PSBank or through a licensed mortgage advisor before making a decision.
Can I refinance from CIMB or PSBank through Nook?
Yes. If you currently have a home loan with CIMB or PSBank and want to explore refinancing to a lower rate, Nook can help. Nook will assess your current loan, compare it against rates from its lender panel, and show you whether refinancing makes financial sense. The service is 100% free to borrowers.
How much can I save by refinancing from PSBank to a lower rate?
On a 3,000,000 peso loan over 20 years, refinancing from an approximate PSBank rate of 7.50% to Nook's best available rate of 5.99% p.a. could save you around 2,694 pesos per month — totalling over 646,560 pesos in savings over the life of the loan. Use Nook's free refinancing calculator to estimate your personal savings.
Does Nook charge any fees to help me refinance?
No. Nook's service is completely free for borrowers. Nook earns a referral fee from the lender when your loan is successfully placed — you never pay a broker fee. This makes it risk-free to explore whether refinancing can lower your monthly repayments.
What documents do I need to refinance my home loan?
Typical documents required for a home loan refinance in the Philippines include: valid government-issued ID, proof of income (payslips, ITR, or audited financial statements for self-employed borrowers), your existing loan statement of account, and property documents such as the Transfer Certificate of Title (TCT) and tax declaration. Nook's advisors will guide you through the exact requirements based on your situation.
Are the CIMB and PSBank rates on this page guaranteed?
No. The rates shown for CIMB and PSBank are approximate figures based on publicly available information and are provided for comparison purposes only. They are subject to change at any time. Only Nook's partner lender rates are verified and current. Always contact the bank directly or work with a Nook advisor to confirm the latest offers.