EastWest Bank vs Metrobank: Home Loan Rate Comparison
Choosing between EastWest Bank and Metrobank for your home loan or refinancing needs is a significant financial decision. Below, we break down the key differences across interest rates, fees, eligibility, and loan features so you can make an informed choice.
| Fixed Period | EastWest Bank (via Nook) | Metrobank (Approximate) |
|---|---|---|
| 1-Year Fixed | 5.99% p.a. | ~7.00%–8.00% p.a.* |
| 3-Year Fixed | 6.25% p.a. | ~7.25%–8.50% p.a.* |
| 5-Year Fixed | 6.49% p.a. | ~7.50%–9.00% p.a.* |
| 7-Year Fixed | 7.00% p.a. | ~8.00%–9.50% p.a.* |
| Home Equity | 6.25% p.a. | Varies* |
* Metrobank rates shown are approximate figures based on publicly available information and are subject to change. Always verify current rates directly with Metrobank. EastWest Bank rates are verified Nook partner rates as of the latest update.
Monthly Amortization Comparison
To illustrate how much the rate difference matters in practice, here's a sample computation for a 3,000,000 peso home loan over a 20-year term:
| Scenario | Interest Rate | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| EastWest Bank (1-yr fixed via Nook) | 5.99% p.a. | ~21,467 | ~2,152,080 |
| Metrobank (approx. 7.50%) | ~7.50% p.a. | ~24,169 | ~2,800,560 |
| Metrobank (approx. 8.50%) | ~8.50% p.a. | ~26,066 | ~3,255,840 |
Note: Monthly payments are indicative estimates only and may vary depending on fees, insurance, and actual repricing schedules. Figures are for illustration purposes.
On a 3,000,000 peso loan, choosing EastWest Bank's 5.99% rate over a typical 7.50% Metrobank rate could save you over 648,000 pesos in total interest over 20 years — that's roughly 2,700 pesos per month back in your pocket.
Eligibility & Loan Requirements
EastWest Bank (via Nook)
- Minimum Monthly Income: 40,000 pesos
- Maximum DTI: 40%
- Typical Approval Time: 19 days
- Employment Types Accepted: Private Employed, Government, BPO, OFW/Seafarer, Self-Employed, Professional
- Loan Purposes: Refinancing, Home Equity, New Construction, Pre-Selling, RFO, Renovation, Reselling, Foreclosed
Metrobank
- Minimum Monthly Income: Typically 40,000–50,000 pesos (verify with bank)*
- Maximum DTI: Typically up to 40%*
- Typical Approval Time: 15–25 banking days (may vary)*
- Employment Types Accepted: Varies; generally covers employed, self-employed, and OFWs*
- Loan Purposes: Purchase, Construction, Refinancing, Home Equity (verify current offerings)*
* Metrobank requirements are based on publicly available information and subject to change. Please confirm directly with Metrobank.
Applying Through Nook vs. Going Direct
One key advantage of applying for an EastWest Bank home loan through Nook is that you get access to their most competitive rates with zero broker fees — Nook's service is completely free to borrowers. Nook handles the paperwork coordination, bank communication, and application tracking on your behalf, saving you time and reducing back-and-forth.
By contrast, applying directly to Metrobank means navigating their process independently, without rate comparison across multiple lenders. If you're also considering other banks, you may find our BPI vs EastWest Bank home loan comparison helpful for a broader view of competitive options in the market.
Why Apply Through Nook?
- ✅ Access to EastWest Bank's best verified rates (5.99% p.a.)
- ✅ 100% free — no broker fees charged to the borrower
- ✅ Faster processing with a dedicated Nook mortgage specialist
- ✅ Side-by-side comparison across multiple partner banks
- ✅ End-to-end guidance from application to approval
Which Bank Is Better for Refinancing?
If your primary goal is to lower your monthly amortization through refinancing, EastWest Bank's rates via Nook are the clear frontrunner. Most Filipino homeowners are currently paying between 7% and 10% on their existing home loans — refinancing to 5.99% with EastWest Bank through Nook can deliver meaningful monthly savings.
Metrobank is a well-established institution with a wide branch network and strong brand recognition. However, its published refinancing rates are generally higher than what EastWest Bank offers through Nook. If you're comparing Metrobank against other lenders, you may also want to read our BDO vs Metrobank home loan comparison for additional context.
For homeowners prioritizing the lowest possible rate and a streamlined, free application process, EastWest Bank via Nook is the recommended choice.
Interest rates are subject to change without notice. All borrowers are advised to verify current rates with their chosen lender before making any financial decisions.
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Compare My Options →Frequently Asked Questions
What is EastWest Bank's current home loan interest rate?
EastWest Bank's current home loan interest rates through Nook start at 5.99% p.a. for a 1-year fixed term, 6.25% p.a. for 3-year fixed, 6.49% p.a. for 5-year fixed, and 7.00% p.a. for 7-year fixed. These are verified partner rates available when you apply through Nook at no cost to you.
What is Metrobank's home loan interest rate?
Metrobank's home loan interest rates are not publicly listed in detail, but based on available market information, they typically range from approximately 7.00% to 9.50% p.a. depending on the fixed period and loan profile. Rates are subject to change, so it's best to contact Metrobank directly for a current quote.
Is EastWest Bank or Metrobank better for home loan refinancing?
For refinancing, EastWest Bank offers more competitive rates through Nook, starting at 5.99% p.a. versus Metrobank's approximate 7%+ range. Since most Filipino homeowners are paying 7–10% on existing loans, refinancing to EastWest Bank via Nook typically results in significant monthly savings. Nook's service is also 100% free to borrowers.
How long does EastWest Bank take to approve a home loan?
When applying through Nook, EastWest Bank's typical approval time is around 19 days. Nook's mortgage specialists help coordinate your documents and liaise with the bank directly, which helps keep the process moving efficiently.
What is the minimum income requirement for EastWest Bank's home loan?
EastWest Bank requires a minimum monthly income of 40,000 pesos for home loan applicants. They accept a wide range of employment types including private-sector employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and professionals.
Can I use Nook to apply for a Metrobank home loan?
Nook currently works with EastWest Bank as a verified partner bank. If you're exploring Metrobank, you would need to apply directly with them. However, Nook can help you compare EastWest Bank's rates against your current loan or other options to ensure you're getting the best deal — completely free of charge.
How much can I save by refinancing from Metrobank to EastWest Bank?
Savings depend on your outstanding loan balance, remaining term, and current rate. As an example, on a 3,000,000 peso loan over 20 years, switching from a 7.50% rate to EastWest Bank's 5.99% rate could save approximately 2,700 pesos per month and over 648,000 pesos in total interest. Use Nook's free refinancing calculator to get a personalized estimate.
Is Nook's mortgage brokering service really free?
Yes — Nook's service is 100% free to borrowers. Nook earns a referral fee from the bank upon successful loan approval, so there is no charge to you at any stage of the application process. You get expert mortgage guidance and access to competitive rates at zero cost.