EastWest Bank vs UCPB: Home Loan Rate Comparison
When comparing EastWest Bank and UCPB for a home loan or refinance, there is a critical detail borrowers must know: UCPB (United Coconut Planters Bank) was officially merged into Landbank of the Philippines in 2022. UCPB no longer operates as an independent bank and is no longer issuing new home loans under its own brand. Existing UCPB borrowers have had their accounts transferred to Landbank. You can read more about how UCPB compares to other lenders in our DBP vs UCPB home loan rates comparison.
This means if you are currently paying off a home loan that originated with UCPB, you are now effectively a Landbank borrower — and you may be paying a rate that hasn't been renegotiated in years. Refinancing to EastWest Bank through Nook could be a smart move.
EastWest Bank Home Loan Rates (2024)
EastWest Bank is a Nook partner bank and currently offers some of the lowest fixed home loan rates available in the Philippines. Here is a full breakdown of their current rates:
| Fixed Period | Annual Interest Rate |
|---|---|
| 1-Year Fixed | 5.99% p.a. |
| 3-Year Fixed | 6.25% p.a. |
| 5-Year Fixed | 6.49% p.a. |
| 7-Year Fixed | 7.00% p.a. |
| Home Equity | 6.25% p.a. |
These rates are subject to change. Always verify the latest rates directly with EastWest Bank or through Nook before making a decision.
How Much Could You Save by Refinancing to EastWest Bank?
Many Filipino homeowners with older loans — including former UCPB borrowers now under Landbank — are paying rates between 7% and 10% per year. Refinancing to EastWest Bank's 5.99% p.a. 1-year fixed rate can produce substantial monthly savings. Here are some illustrative examples based on a 20-year loan term:
| Loan Balance | At 8.00% p.a. | At 5.99% p.a. (EastWest) | Monthly Savings |
|---|---|---|---|
| 2,000,000 | 16,729 | 14,322 | 2,407 |
| 4,000,000 | 33,458 | 28,644 | 4,814 |
| 6,000,000 | 50,187 | 42,966 | 7,221 |
| 8,000,000 | 66,916 | 57,288 | 9,628 |
Note: Monthly payment estimates are illustrative only and based on a standard amortization formula. Actual payments will vary based on your remaining term, outstanding balance, and the bank's final approved rate.
EastWest Bank Home Loan Eligibility
EastWest Bank has accessible eligibility requirements, making it a viable option for a wide range of Filipino borrowers:
- Minimum Monthly Income: 40,000
- Maximum Debt-to-Income Ratio: 40%
- Accepted Employment Types: Private employees, Government employees, BPO workers, OFW/Seafarers, Self-employed individuals, Professionals
- Loan Purposes Accepted: Refinancing, Home Equity, New Construction, Pre-Selling, Ready For Occupancy (RFO), Renovation, Reselling, Foreclosed properties
- Typical Approval Timeline: 19 days
EastWest Bank's acceptance of OFW, BPO, and self-employed borrowers makes it one of the more inclusive lenders in the Philippine market. If you want to see how EastWest Bank compares against other lenders, check out our EastWest Bank vs GoTyme home loan comparison.
UCPB Home Loans: What Existing Borrowers Need to Know
UCPB was merged into Landbank of the Philippines as of April 2022 following a government directive to consolidate state-run financial institutions. As a result:
- UCPB no longer accepts new home loan applications
- All existing UCPB home loan accounts have been migrated to Landbank
- Borrowers who originally signed with UCPB are now servicing their loans under Landbank's terms
- Interest rate repricing will now follow Landbank's policies and schedule
If you are a former UCPB borrower, your next repricing period is an important window to consider refinancing. If your current rate is above 6.50%, you may benefit significantly from moving your loan to EastWest Bank through Nook.
Head-to-Head: EastWest Bank vs UCPB (Landbank)
| Feature | EastWest Bank | UCPB (now Landbank) |
|---|---|---|
| Lowest Available Rate | 5.99% p.a. (1-year fixed) | Not applicable — merged into Landbank |
| New Applications Accepted | Yes | No (UCPB brand discontinued) |
| Refinancing Available | Yes | No (under UCPB brand) |
| Min Monthly Income | 40,000 | N/A |
| OFW/Seafarer Eligible | Yes | N/A |
| Typical Approval Time | 19 days | N/A |
| Apply Through Nook | Yes — free service | No |
Why Apply Through Nook?
Nook is the Philippines' first digital mortgage broker and is 100% free for borrowers. When you apply for an EastWest Bank home loan through Nook, you get:
- Expert guidance throughout the entire application process
- Help with document preparation and submission
- Access to multiple lender options so you can compare and choose
- No broker fees — Nook is paid by the bank, not by you
- Faster processing through Nook's direct bank relationships
Whether you're refinancing a former UCPB loan now under Landbank or simply looking for the lowest home loan rate in the Philippines, Nook can help you get there faster and smarter.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Is UCPB still offering home loans?
No. UCPB (United Coconut Planters Bank) was merged into Landbank of the Philippines in April 2022. UCPB no longer operates as an independent institution and is no longer accepting new home loan applications under its own brand. Existing UCPB borrowers have had their accounts transferred to Landbank.
What is EastWest Bank's lowest home loan rate?
EastWest Bank's lowest available home loan rate is 5.99% p.a. on a 1-year fixed period. They also offer 3-year fixed at 6.25%, 5-year fixed at 6.49%, and 7-year fixed at 7.00%. Rates are subject to change — verify the latest rates through Nook or directly with EastWest Bank.
I have an existing UCPB home loan. What are my options?
Your loan has been migrated to Landbank following the UCPB-Landbank merger. You can continue paying under Landbank's terms, or you can explore refinancing to another lender like EastWest Bank — especially if your current rate is above 6.50%. Refinancing through Nook is free and could significantly reduce your monthly payments.
How long does EastWest Bank take to approve a home loan?
EastWest Bank's typical loan approval timeline is 19 days. This is one of the faster turnaround times among Philippine banks. Applying through Nook can help ensure your documents are complete and correctly submitted, which can avoid delays.
Can OFWs apply for an EastWest Bank home loan?
Yes. EastWest Bank accepts applications from OFWs and seafarers, along with private employees, government workers, BPO employees, self-employed individuals, and professionals. The minimum monthly income requirement is 40,000.
How much can I save by refinancing from a 8% rate to EastWest Bank's 5.99%?
On a 4,000,000 loan with a 20-year remaining term, moving from 8.00% to 5.99% p.a. would reduce your monthly payment by approximately 4,814 per month — that's over 57,000 in savings per year. Actual savings depend on your exact loan balance, remaining term, and approved rate.
Is Nook's mortgage broker service really free?
Yes, completely free for borrowers. Nook is compensated directly by the bank when your loan is successfully processed. You pay nothing extra — and you get expert support, document guidance, and access to multiple lender options at no cost to you.