Homeowners with a CTBC Bank home loan could save over 58,000 per year by refinancing to a lower rate through Nook — completely free.
CTBC BORROWER SAVINGS ESTIMATE
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Why this matters
CTBC Bank Philippines has built a reputation as a reliable Taiwanese-backed lender offering home loans to Filipino borrowers, particularly those with ties to Taiwanese businesses or who prefer working with a foreign commercial bank. However, like many specialty lenders, CTBC's home loan rates tend to reflect a premium compared to what is available through the broader Philippine banking market. If you took out your home loan with CTBC two or more years ago, there is a strong chance your current rate is significantly higher than what you could secure today. You can check where you stand by reviewing current mortgage interest rates in the Philippines to understand what competitive rates actually look like right now.
Refinancing away from CTBC does not have to be complicated. Through Nook, the Philippines' first digital mortgage broker, you can compare offers from multiple banks — including BDO, BPI, Security Bank, Metrobank, and others — without paying a single peso in broker fees. Nook does the legwork of submitting your application, coordinating with lenders, and negotiating on your behalf. The best available refinance rate through Nook is currently 5.99% per annum, and for a 3,000,000 peso loan, even moving from 8.50% to that rate translates to meaningful savings every single month for the remainder of your loan term.
The process of switching your home loan from CTBC to another bank is known as a mortgage takeout or refinance, and it is a standard, legally straightforward transaction in the Philippines. Your new lender pays off your existing CTBC balance and takes over the mortgage on your property. There are some closing costs to consider — typically appraisal fees, documentary stamps, and registration — but in most cases these are recovered within the first 12 to 18 months of lower repayments. Nook will walk you through the full cost-benefit picture before you commit to anything, so you can make a fully informed decision about whether switching banks makes financial sense for your situation.
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, absolutely. Refinancing from CTBC Bank to another lender is a standard process in the Philippines called a mortgage takeout. Your new bank settles your outstanding CTBC balance and registers a new mortgage over your property, and you then make repayments to your new lender at the agreed rate.
Savings depend on your current rate, outstanding balance, and the new rate you qualify for. For a 3,000,000 peso loan moving from 8.50% to 5.99% over a 20-year term, the monthly saving is around 3,069 pesos — or more than 36,000 pesos per year. Nook will calculate your exact savings for free before you apply.
When you go directly to one bank, you only see that bank's offer. Nook submits your profile to multiple lenders simultaneously and presents you with the best available rate across the market. This saves you time, eliminates guesswork, and often results in a better rate than you would negotiate on your own — and Nook's service is 100% free to borrowers.
You will typically need your latest CTBC loan statement of account, your original Transfer Certificate of Title (TCT), recent payslips or ITR if employed, and standard KYC documents such as valid IDs. Nook provides a personalised checklist once you begin your application so nothing is missed.
Nook's brokerage service is completely free to you as the borrower. However, there are standard third-party closing costs when refinancing any home loan in the Philippines, including appraisal fees, documentary stamp tax, notarial fees, and registration charges. These typically total between 30,000 and 80,000 pesos depending on your loan amount, and in most refinancing scenarios are recovered within the first year of lower monthly payments.
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