EastWest Bank vs Maya Bank: Home Loan Overview
When comparing EastWest Bank and Maya Bank for a home loan or refinancing, the picture becomes clear quickly. EastWest Bank is a full-service universal bank with a dedicated, competitive home loan product available through Nook. Maya Bank — formerly PayMaya's digital banking arm — is a licensed digital bank in the Philippines focused primarily on personal finance, savings, and personal loans. As of this writing, Maya Bank does not offer a home loan or mortgage refinancing product to retail borrowers.
This page will help you understand what EastWest Bank offers, what Maya Bank currently provides, and why Nook recommends EastWest Bank for homeowners looking to refinance or purchase a property.
Note: Interest rates and product availability are subject to change. Always verify current rates directly with the bank or through Nook before making a decision.
Interest Rate Comparison
| Fixed Period | EastWest Bank | Maya Bank |
|---|---|---|
| 1-Year Fixed | 5.99% p.a. | Not Available |
| 3-Year Fixed | 6.25% p.a. | Not Available |
| 5-Year Fixed | 6.49% p.a. | Not Available |
| 7-Year Fixed | 7.00% p.a. | Not Available |
| Home Equity | 6.25% p.a. | Not Available |
EastWest Bank's 1-year fixed rate of 5.99% p.a. is among the most competitive rates available in the Philippine market today. For a borrower carrying a ₱3,000,000 home loan at 8.5% p.a. over 20 years, refinancing to 5.99% p.a. through EastWest Bank via Nook could reduce monthly payments from approximately 26,035 to approximately 21,484 — a monthly saving of around 4,551 and over 1,092,000 across the remaining loan life.
Maya Bank, by contrast, does not currently offer mortgage products. Borrowers researching Maya Bank for a home loan will need to look elsewhere — and EastWest Bank is a strong place to start.
Eligibility & Application Requirements
| Criteria | EastWest Bank | Maya Bank |
|---|---|---|
| Minimum Monthly Income | 40,000 | N/A (no home loan product) |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | N/A |
| Maximum Debt-to-Income Ratio | 40% | N/A |
| Typical Approval Time | 19 days | N/A |
| Loan Purposes Covered | Refinancing, Home Equity, New Construction, Pre-Selling, RFO, Renovation, Reselling, Foreclosed | N/A |
EastWest Bank accepts a wide range of borrower profiles, including OFWs and seafarers, self-employed individuals, and BPO workers — making it accessible to a broad segment of Filipino homeowners. The minimum monthly income requirement of 40,000 is reasonable for many urban and suburban households.
If you're also weighing other lenders, you may find our comparison of EastWest Bank vs GoTyme home loan rates useful, particularly if you're drawn to digital-first banking options.
Loan Purposes & Product Range
EastWest Bank covers virtually every home financing need a Filipino borrower might have:
- Refinancing — Switch from your current bank to EastWest Bank to get a lower rate
- Home Equity Loan — Unlock the equity in your existing property at 6.25% p.a.
- Ready For Occupancy (RFO) — Finance a property ready to move into
- Pre-Selling — Fund a property still under development
- New Construction — Build your own home from the ground up
- Renovation — Improve your existing home with loan financing
- Reselling & Foreclosed Properties — Purchase secondary market or bank-acquired assets
Maya Bank's current product suite focuses on digital savings accounts, personal loans, and credit services. There is no equivalent home loan product. Homeowners researching Maya Bank for mortgage refinancing should consider established mortgage lenders like EastWest Bank instead.
For a broader perspective on how EastWest Bank compares with other lenders, see our analysis of Asia United Bank vs EastWest Bank home loan rates.
Applying Through Nook: Why It's the Smarter Way
Nook is the Philippines' first digital mortgage broker, and our service is 100% free for borrowers. When you apply for an EastWest Bank home loan or refinance through Nook, you get:
- Access to EastWest Bank's best available rates, including the 5.99% p.a. 1-year fixed offer
- A dedicated mortgage specialist to guide you through documentation and approval
- A single application that compares multiple lenders — so you know you're getting the best deal
- No broker fees, no hidden charges
Because Nook is an accredited partner of EastWest Bank, applications submitted through our platform are processed efficiently with a typical approval time of 19 days. You don't need to visit a branch or wade through paperwork on your own.
Monthly Payment Estimates: EastWest Bank at 5.99% p.a.
To illustrate EastWest Bank's value, here are estimated monthly repayments on a 20-year loan term at the 1-year fixed rate of 5.99% p.a.:
| Loan Amount | Monthly Payment (5.99% / 20 yrs) | Monthly Payment (8.5% / 20 yrs) | Monthly Savings |
|---|---|---|---|
| 1,500,000 | 10,742 | 13,018 | 2,276 |
| 3,000,000 | 21,484 | 26,035 | 4,551 |
| 5,000,000 | 35,807 | 43,392 | 7,585 |
| 8,000,000 | 57,291 | 69,427 | 12,136 |
These figures are illustrative estimates. Actual monthly payments will depend on your specific loan terms, fees, and any applicable charges. Use Nook's free mortgage calculator or speak with a Nook specialist for a personalised quote.
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Compare My Options →Frequently Asked Questions
Does Maya Bank offer home loans in the Philippines?
As of this writing, Maya Bank does not offer a home loan or mortgage refinancing product in the Philippines. Maya Bank is a licensed digital bank focused on savings, personal loans, and digital payments. Homeowners looking to purchase or refinance a property should consider lenders like EastWest Bank, which offers competitive home loan rates starting at 5.99% p.a. through Nook.
What is EastWest Bank's lowest home loan rate?
EastWest Bank's lowest home loan rate is 5.99% p.a. on a 1-year fixed term. This rate is available for refinancing, RFO purchases, and other eligible loan purposes. You can access this rate by applying through Nook — the Philippines' first digital mortgage broker — at no cost to you.
How long does EastWest Bank take to approve a home loan?
EastWest Bank's typical home loan approval time is 19 days when applying with complete documentation. Applying through Nook can help streamline this process, as Nook specialists assist you in preparing and submitting your requirements correctly the first time.
Can OFWs apply for an EastWest Bank home loan?
Yes. EastWest Bank accepts home loan applications from OFWs and seafarers, in addition to locally employed individuals in the private sector, government employees, BPO workers, self-employed professionals, and business owners. The minimum monthly income requirement is 40,000. Nook can help OFWs navigate the application process remotely.
Is Nook's mortgage brokering service really free?
Yes, Nook's service is 100% free for borrowers. Nook is compensated by the bank upon successful loan disbursement, so there are no broker fees or hidden charges passed on to you. You get access to EastWest Bank's best rates and a dedicated specialist at no extra cost.
What is the maximum debt-to-income ratio for EastWest Bank home loans?
EastWest Bank allows a maximum debt-to-income (DTI) ratio of 40%. This means your total monthly debt obligations — including your new home loan payment — should not exceed 40% of your gross monthly income. A Nook specialist can help you calculate your DTI and determine how much you can borrow.
Can I use EastWest Bank to refinance my existing home loan from another bank?
Yes. Refinancing is one of the primary loan purposes supported by EastWest Bank. If you currently have a home loan with BDO, BPI, Metrobank, Security Bank, or any other Philippine lender and are paying a higher rate, you may be able to refinance to EastWest Bank's 5.99% p.a. 1-year fixed rate through Nook. This could significantly reduce your monthly payments and total interest paid over the life of your loan.