Interest Rate Comparison
Eastwest Bank
- 1-Year Fixed: 5.99%
- 3-Year Fixed: 6.25%
- 5-Year Fixed: 6.49%
- 7-Year Fixed: 7.00%
- Home Equity: 6.25%
BPI Family Savings Bank
- 1-Year Fixed: 6.70%
- 5-Year Fixed: 6.50%
- Home Equity: 6.70%
- Limited rate options available
Rate Analysis: Eastwest Bank offers more comprehensive rate options with their 1-year fixed rate being 0.71% lower than BPI Family Savings Bank. For a ₱3,000,000 loan over 20 years, this translates to approximately ₱1,200 monthly savings.
Processing Time & Requirements
| Feature | Eastwest Bank | BPI Family Savings Bank |
|---|---|---|
| Typical Approval Time | 19 days | 52 days |
| Minimum Monthly Income | ₱40,000 | ₱40,000 |
| Maximum DTI Ratio | 40% | 40% |
| Employment Types | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional |
Both banks maintain identical eligibility requirements, making them equally accessible to Filipino borrowers. However, Eastwest Bank's significantly faster 19-day processing gives it a clear advantage for borrowers seeking quick refinancing.
Loan Purpose Flexibility
Both Eastwest Bank and BPI Family Savings Bank offer comprehensive loan purposes through Nook:
Available for Both Banks:
- Foreclosed property financing
- Home equity loans
- New construction projects
- Pre-selling units
- Ready For Occupancy (RFO) properties
- Refinancing existing loans
- Home renovation projects
- Reselling properties
This flexibility ensures both banks can accommodate various homeownership needs, whether you're refinancing an existing mortgage or financing a new property purchase.
Potential Monthly Savings Comparison
Based on current market rates where most Filipino homeowners pay 7-10%, here's your potential savings:
₱3,000,000 Loan (20 years)
Current at 8.5%: ₱25,900/month
Eastwest Bank at 5.99%: ₱21,550/month
BPI Family at 6.70%: ₱22,750/month
Monthly savings: ₱4,350 (Eastwest) vs ₱3,150 (BPI Family)
₱5,000,000 Loan (25 years)
Current at 9%: ₱41,950/month
Eastwest Bank at 5.99%: ₱35,350/month
BPI Family at 6.70%: ₱37,200/month
Monthly savings: ₱6,600 (Eastwest) vs ₱4,750 (BPI Family)
Use our housing loan calculator to compute your exact savings based on your current loan details.
Why Apply Through Nook
Both Eastwest Bank and BPI Family Savings Bank are trusted partner banks in Nook's network. When you apply through Nook, you get:
- 100% Free Service: No broker fees or hidden charges
- Expert Guidance: Dedicated loan specialists throughout the process
- Rate Comparison: Access to multiple bank offers simultaneously
- Streamlined Process: Single application for multiple banks
- Best Rate Guarantee: We ensure you get the most competitive terms available
Note: Interest rates are subject to change based on market conditions and individual borrower profiles. Contact Nook for current rates and personalized quotes.
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Compare My Options →Frequently Asked Questions
Which bank offers lower interest rates - Eastwest Bank or BPI Family Savings Bank?
Eastwest Bank offers lower rates with their 1-year fixed rate at 5.99% compared to BPI Family Savings Bank's 1-year rate at 6.70%. Eastwest also provides more rate term options including 3-year, 7-year, and competitive home equity rates at 6.25%.
How much faster is Eastwest Bank's loan approval compared to BPI Family Savings Bank?
Eastwest Bank processes home loans in approximately 19 days, which is significantly faster than BPI Family Savings Bank's 52-day typical approval time. This 33-day difference can be crucial for time-sensitive refinancing or property purchases.
Do both banks have the same income requirements for home loans?
Yes, both Eastwest Bank and BPI Family Savings Bank require a minimum monthly income of ₱40,000 and maintain a maximum debt-to-income ratio of 40%. Both banks also accept the same employment types including private employees, government workers, BPO staff, OFWs, self-employed individuals, and professionals.
Can I refinance my existing home loan with either bank through Nook?
Absolutely. Both Eastwest Bank and BPI Family Savings Bank offer refinancing services through Nook's platform. You can refinance existing mortgages from any Philippine bank to take advantage of lower rates. Nook's service is 100% free and helps you compare offers from both banks simultaneously.
What types of properties can I finance with these banks?
Both banks offer financing for diverse property types including foreclosed properties, new construction projects, pre-selling units, ready-for-occupancy homes, and reselling properties. They also provide home equity loans and renovation financing, making them suitable for various homeownership needs.
How much can I potentially save by switching from my current high-rate loan?
Savings depend on your current rate and loan amount. For a ₱3,000,000 loan, switching from a typical 8.5% rate to Eastwest Bank's 5.99% rate could save you approximately ₱4,350 monthly. Use Nook's calculator to determine your specific savings potential based on your current loan terms.