EastWest Bank vs PSBank: Home Loan Rate Comparison
Choosing between EastWest Bank and PSBank for your home loan — or deciding which bank to refinance to — comes down to rates, flexibility, and service. Below is a detailed side-by-side breakdown to help you decide.
| Feature | EastWest Bank Nook Partner | PSBank |
|---|---|---|
| 1-Year Fixed Rate | 5.99% p.a. | ~7.50%–8.50% p.a. (approx.) |
| 3-Year Fixed Rate | 6.25% p.a. | ~7.75%–8.75% p.a. (approx.) |
| 5-Year Fixed Rate | 6.49% p.a. | ~8.00%–9.00% p.a. (approx.) |
| 7-Year Fixed Rate | 7.00% p.a. | Not publicly disclosed |
| Home Equity Rate | 6.25% p.a. | Not publicly disclosed |
| Min. Monthly Income | ₱40,000 | Varies by branch |
| Typical Approval Time | ~19 days | ~20–30 days (estimated) |
| Max Debt-to-Income Ratio | 40% | Not publicly disclosed |
| Broker Fee via Nook | Free | N/A |
PSBank rates shown are approximate figures based on publicly available information and general market knowledge. They are indicative only and subject to change. Always verify current rates directly with PSBank. EastWest Bank rates are verified partner rates available through Nook as of the time of publishing.
Monthly Payment Comparison: Real Numbers
To illustrate the real-world difference in rates, here's how monthly payments and total interest compare on a ₱3,000,000 home loan over 20 years.
| Scenario | EastWest Bank via Nook (5.99%) | PSBank (est. 8.00%) |
|---|---|---|
| Loan Amount | 3,000,000 | 3,000,000 |
| Loan Term | 20 years | 20 years |
| Monthly Payment (approx.) | 21,476 | 25,093 |
| Total Interest Paid | 2,154,240 | 3,022,320 |
| Estimated Interest Savings | 868,080 over 20 years | |
That's over 868,000 pesos in potential savings over the life of a ₱3,000,000 loan — simply by choosing a lower rate through Nook. And Nook's broker service costs you nothing. If you're currently on a higher rate, refinancing to EastWest Bank via Nook could be one of the most impactful financial decisions you make this year.
Who Is EastWest Bank Best For?
EastWest Bank is a strong fit if you are:
- A salaried employee (private sector, government, BPO) or self-employed professional looking for competitive fixed rates
- An OFW or seafarer wanting to refinance your Philippine home loan at a lower rate
- A homeowner looking to tap home equity at 6.25% p.a.
- Someone who wants a fast, streamlined approval process — typically within 19 days
- Looking to refinance a ready-for-occupancy (RFO), pre-selling, or resale property
EastWest Bank accepts a wide range of loan purposes including refinancing, home equity, new construction, renovation, pre-selling, and foreclosed properties — making it one of the most versatile home loan partners available through Nook. You can also explore how EastWest compares to other lenders in our Asia United Bank vs EastWest Bank comparison.
Who Is PSBank Best For?
PSBank (Philippine Savings Bank), the thrift banking arm of the Metrobank Group, is a well-established lender with a nationwide branch network. It may be a reasonable option if:
- You already have an existing banking relationship with PSBank or Metrobank
- You prefer dealing with a branch-based bank for your home loan application
- You are in the early stages of exploring home financing options
However, PSBank's publicly available home loan rates are generally higher than what EastWest Bank offers through Nook. If you're refinancing specifically to reduce your monthly payments and total interest burden, PSBank is unlikely to offer the same savings potential. For a broader look at how PSBank stacks up against other lenders, see our PSBank vs Robinsons Bank home loan comparison.
Why Apply Through Nook?
Nook is the Philippines' first digital mortgage broker — and working with Nook means you get access to EastWest Bank's best available rates with zero broker fees. Here's what Nook does for you:
- Free service: Nook is 100% free for borrowers. Banks pay Nook a referral fee — you pay nothing extra.
- Verified rates: The EastWest Bank rates shown on this page are confirmed partner rates, not estimates.
- Faster processing: Nook's digital-first process helps streamline document submission and bank coordination.
- Expert guidance: Nook's mortgage specialists help you compare options and choose the right loan structure for your situation.
- One application, multiple options: Nook can present your profile to multiple partner banks so you get the best offer.
There is no reason to go directly to a bank when Nook can do the legwork for free and potentially get you a better rate. Start your free refinancing assessment at nook.com.ph today.
EastWest Bank Home Loan: Full Rate Summary
Below is a complete summary of EastWest Bank's current home loan rates, available exclusively through Nook at no cost to you.
| Fixed Period | Interest Rate p.a. |
|---|---|
| 1-Year Fixed | 5.99% |
| 3-Year Fixed | 6.25% |
| 5-Year Fixed | 6.49% |
| 7-Year Fixed | 7.00% |
| Home Equity | 6.25% |
Interest rates are subject to change. Please verify current rates with Nook or EastWest Bank before making any financial decisions.
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Compare My Options →Frequently Asked Questions
What is the current EastWest Bank home loan rate?
EastWest Bank's home loan rates through Nook start at 5.99% p.a. for a 1-year fixed term, 6.25% for 3-year fixed, 6.49% for 5-year fixed, and 7.00% for 7-year fixed. These are verified partner rates available at no cost to you when you apply through Nook. Rates are subject to change — always confirm current rates before applying.
What are PSBank's home loan interest rates?
PSBank's home loan rates are not publicly listed in real-time, but based on general market information, they typically range from approximately 7.50% to 9.00% p.a. depending on the fixed period and your profile. These are approximate figures — we recommend contacting PSBank directly for their latest rates.
Can I refinance my PSBank home loan to EastWest Bank through Nook?
Yes. If you currently have a home loan with PSBank, you may be eligible to refinance to EastWest Bank through Nook. EastWest Bank accepts refinancing as a valid loan purpose, and with rates starting at 5.99% p.a., you could significantly reduce your monthly payments and total interest paid. Nook's service is completely free for borrowers.
How much can I save by refinancing from PSBank to EastWest Bank?
Savings depend on your current rate, loan balance, and remaining term. As an example, on a ₱3,000,000 loan over 20 years, switching from an estimated 8.00% PSBank rate to EastWest Bank's 5.99% rate could save you approximately 868,080 pesos in total interest. Use Nook's free refinancing calculator at nook.com.ph to estimate your personal savings.
What is the minimum income requirement for an EastWest Bank home loan?
EastWest Bank requires a minimum monthly income of ₱40,000. This applies to salaried employees in the private sector, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and professionals. If you meet this threshold, Nook can help you begin your application for free.
How long does EastWest Bank take to approve a home loan?
EastWest Bank's typical loan approval timeline is approximately 19 days when applying through Nook. This is faster than the industry average, and Nook's digital process helps ensure your documents are complete and properly submitted from the start — reducing delays.
Is Nook's service really free for borrowers?
Yes, 100% free. Nook is compensated by the bank through a referral arrangement — you pay no broker fees, no application fees, and no hidden charges for using Nook's service. You get access to verified partner rates and expert mortgage guidance at zero cost.
What loan purposes does EastWest Bank accept?
EastWest Bank through Nook accepts a wide range of loan purposes including refinancing, home equity, new construction, pre-selling, ready-for-occupancy (RFO) properties, reselling, and renovation. This makes EastWest Bank one of the most flexible home loan partners available through the Nook platform.