EastWest Bank vs Maybank: Home Loan Rate Comparison
Choosing between EastWest Bank and Maybank for your home loan or refinance comes down to rates, eligibility, loan purpose flexibility, and processing speed. Below is a detailed, side-by-side breakdown of everything you need to know. Note that interest rates are subject to change — always verify current rates with your lender or through Nook before making a decision.
| Fixing Period | EastWest Bank | Maybank |
|---|---|---|
| 1-Year Fixed | 5.99% p.a. | 7.00% p.a. |
| 3-Year Fixed | 6.25% p.a. | 6.99% p.a. |
| 5-Year Fixed | 6.49% p.a. | 7.50% p.a. |
| 7-Year Fixed | 7.00% p.a. | N/A |
| Home Equity | 6.25% p.a. | 9.88% p.a. |
Rates are indicative and subject to change. Verify current rates through Nook or directly with the bank.
How Much Can You Save by Choosing the Lower Rate?
The rate difference between EastWest Bank and Maybank is significant. Here's a practical illustration using a ₱3,000,000 home loan on a 20-year term, comparing the 1-year fixed rates of both banks.
EastWest Bank — 5.99% p.a.
Estimated Monthly Payment: 21,484
Total Interest Over 20 Years: 2,156,160
Maybank — 7.00% p.a.
Estimated Monthly Payment: 23,259
Total Interest Over 20 Years: 2,582,160
By choosing EastWest Bank over Maybank at these rates, a borrower with a ₱3,000,000 loan could save approximately 1,775 per month and over 426,000 over 20 years. For larger loan amounts, the savings compound even further. If you're currently paying 8% or more with another bank, refinancing to EastWest Bank's 5.99% through Nook could be one of the most impactful financial decisions you make this year.
Want to see how EastWest Bank's rates compare against other lenders? Check out our EastWest Bank vs Pag-IBIG home loan comparison for another popular alternative among Filipino homeowners.
Eligibility Requirements
Both EastWest Bank and Maybank share similar baseline eligibility criteria, making it straightforward to assess which bank you qualify for.
| Requirement | EastWest Bank | Maybank |
|---|---|---|
| Minimum Monthly Income | 40,000 | 40,000 |
| Maximum Debt-to-Income Ratio | 40% | 40% |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional |
Both banks accept a broad range of employment types including OFWs and self-employed professionals, which is great news for borrowers with non-traditional income sources. With matching income floors and DTI caps, the primary differentiator comes down to rates and loan purpose coverage.
Loan Purpose Coverage
Not all home loans are created equal — some banks restrict what you can use the loan for. Here's how the two banks compare on loan purpose flexibility.
| Loan Purpose | EastWest Bank | Maybank |
|---|---|---|
| Refinancing | ✅ Yes | ❌ Not listed |
| Home Equity / Cash-Out | ✅ Yes (6.25% p.a.) | ✅ Yes (9.88% p.a.) |
| Ready For Occupancy (RFO) | ✅ Yes | ✅ Yes |
| Pre-Selling | ✅ Yes | ✅ Yes |
| New Construction | ✅ Yes | ✅ Yes |
| Renovation | ✅ Yes | ✅ Yes |
| Reselling | ✅ Yes | ✅ Yes |
| Foreclosed Properties | ✅ Yes | ✅ Yes |
EastWest Bank supports refinancing as an explicit loan purpose — a key advantage for homeowners looking to lower their current monthly payments. Maybank's home equity rate of 9.88% p.a. is considerably higher than EastWest Bank's 6.25% p.a., making EastWest the clear winner for borrowers seeking to unlock equity from their property at the lowest possible cost.
Processing Speed
One area where EastWest Bank stands out is approval turnaround time. EastWest Bank typically processes and approves home loan applications in around 19 days — faster than many traditional banks. Maybank does not publicly disclose a standard processing timeline, so borrowers should inquire directly or through Nook for the most current estimate.
If speed matters to you — whether you're refinancing to lock in a lower rate before it changes, or need to move quickly on a property — EastWest Bank's faster processing is a meaningful advantage.
For a broader look at how EastWest Bank competes across different lenders, you may also find our Asia United Bank vs EastWest Bank comparison useful.
Which Bank Is Right for You?
Choose EastWest Bank If:
- You want the lowest available fixed rate (5.99% p.a. for 1-year fixing)
- You are refinancing your existing home loan
- You want faster approval — typically 19 days
- You need a home equity loan at a competitive rate
- You want to apply for free through Nook and get expert support
Consider Maybank If:
- You have an existing relationship with Maybank and prefer continuity
- You are purchasing a property (RFO, pre-selling, new construction)
- You want to explore multiple offers and compare directly
Both EastWest Bank and Maybank are Nook partner banks. Applying through Nook is 100% free — Nook is compensated by the bank, never the borrower. A Nook mortgage advisor can help you apply to both banks simultaneously and present you with the best offer.
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Compare My Options →Frequently Asked Questions
What is the current home loan rate at EastWest Bank vs Maybank?
EastWest Bank currently offers a 1-year fixed rate of 5.99% p.a., a 3-year fixed rate of 6.25% p.a., and a 5-year fixed rate of 6.49% p.a. Maybank offers a 1-year fixed rate of 7.00% p.a., a 3-year fixed rate of 6.99% p.a., and a 5-year fixed rate of 7.50% p.a. EastWest Bank is lower across all available fixing periods. Rates are subject to change — verify the latest figures through Nook or directly with the bank.
Can I refinance my home loan through EastWest Bank or Maybank?
EastWest Bank explicitly supports home loan refinancing as a loan purpose, making it an excellent choice for homeowners looking to reduce their monthly payments. Maybank's publicly listed loan purposes do not include refinancing, so you should confirm directly with Maybank or through Nook if refinancing is your goal. For most refinancing borrowers, EastWest Bank at 5.99% p.a. is the stronger option.
What is the minimum income required for an EastWest Bank or Maybank home loan?
Both EastWest Bank and Maybank require a minimum monthly income of 40,000. Both banks also cap the debt-to-income (DTI) ratio at 40%, meaning your total monthly debt obligations — including the new home loan payment — should not exceed 40% of your gross monthly income.
How long does EastWest Bank take to approve a home loan?
EastWest Bank typically approves home loan applications in approximately 19 days, which is faster than many traditional Philippine banks. Maybank does not publish a standard approval timeline. If processing speed is important to you, EastWest Bank has a clear advantage. Applying through Nook can also help streamline document submission and follow-ups with the bank.
Is it better to get a home equity loan from EastWest Bank or Maybank?
For home equity loans, EastWest Bank offers a significantly lower rate at 6.25% p.a. compared to Maybank's 9.88% p.a. — a difference of 3.63 percentage points. On a ₱2,000,000 home equity loan over 10 years, this translates to a potential saving of hundreds of thousands of pesos in interest. EastWest Bank is the clear winner for home equity borrowing.
How do I apply for a home loan through EastWest Bank or Maybank via Nook?
You can apply through Nook at nook.com.ph completely free of charge. Nook is the Philippines' first digital mortgage broker and can submit your application to EastWest Bank, Maybank, or both simultaneously. A Nook mortgage advisor will guide you through the requirements, help you prepare your documents, and present you with the best available offer. Nook is paid by the bank — never the borrower.
Do EastWest Bank and Maybank accept OFW and self-employed borrowers?
Yes, both EastWest Bank and Maybank accept a wide range of employment types including private employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and licensed professionals. This makes both banks accessible to borrowers with non-traditional income sources, provided they meet the minimum income and DTI requirements.