First Metro Investment vs Maya Bank: Home Loan Overview
First Metro Investment Corporation (FMIC) is the investment banking arm of Metrobank Group, primarily known for capital markets and corporate finance. Its home loan products are less widely marketed than those of traditional retail banks, making rate discovery difficult for ordinary borrowers. Maya Bank, on the other hand, is a fully digital bank — formerly PayMaya — that has entered the consumer lending space with a tech-first approach and a focus on underserved and digitally active Filipinos.
While Maya Bank's digital convenience is appealing and First Metro's Metrobank affiliation lends institutional credibility, neither has established itself as a go-to destination for competitive home loan refinancing. If you are shopping for the best refinance rate, it pays to look beyond just these two lenders.
Interest Rate Comparison
| Feature | First Metro Investment | Maya Bank | Nook (Best Available) |
|---|---|---|---|
| Indicative Home Loan Rate | ~7.50% – 9.00% p.a. | ~7.00% – 9.50% p.a. | From 5.99% p.a. |
| Rate Type | Fixed then repricing | Fixed then repricing | Fixed periods available |
| Fixing Periods | 1, 2, 3, 5 years | 1, 2, 3 years (digital) | Multiple options via network |
| Loan Amount | From 1,000,000 | From 500,000 | From 1,500,000 |
| Loan Term | Up to 20 years | Up to 15 years | Up to 25 years |
Important: Indicative rates above are based on publicly available information and market estimates. Actual rates vary by borrower profile, loan amount, and prevailing bank policies. Always confirm directly with the lender or through Nook for your personalized rate.
Monthly Payment Comparison: A Real Example
To illustrate the real-world impact of these rate differences, here is a sample calculation for a 3,000,000 peso home loan over 20 years:
| Scenario | Rate | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| First Metro Investment (mid-range) | 8.25% p.a. | ~25,600 | ~3,144,000 |
| Maya Bank (mid-range) | 8.25% p.a. | ~25,600 | ~3,144,000 |
| Nook Best Rate | 5.99% p.a. | ~21,450 | ~2,148,000 |
That is a potential saving of approximately 4,150 per month and close to 996,000 over the life of the loan by refinancing to the best available rate through Nook. These figures are illustrative and based on a standard amortizing loan calculation.
Fees and Charges
| Fee Type | First Metro Investment | Maya Bank |
|---|---|---|
| Processing Fee | ~5,000 – 10,000 (estimated) | Varies; digital process may reduce fees |
| Appraisal Fee | Charged separately | Charged separately |
| Documentary Stamp Tax | Borrower's account | Borrower's account |
| Pre-termination Penalty | Typically 2% – 4% within fixing period | Terms vary; confirm with bank |
| Mortgage Registration | Borrower's account | Borrower's account |
One important advantage of refinancing through Nook: Nook's service is completely free to borrowers. Nook earns from its bank partners, not from you, so you keep more of your savings. If you are also exploring other digital bank comparisons, see how Asia United Bank and Tonik compare on home loan rates for another perspective on digital lenders in the Philippines.
Application Process and Accessibility
| Criteria | First Metro Investment | Maya Bank |
|---|---|---|
| Application Channel | Branch / relationship manager | Fully digital (mobile app) |
| Processing Time | 3 – 6 weeks (estimated) | Faster digital processing (estimated) |
| Documents Required | Standard mortgage set | Digital-first, fewer hard copies |
| Refinancing Available | Limited public information | Emerging offering; confirm availability |
| Customer Support | Relationship manager model | In-app chat and digital support |
Maya Bank's digital-first model is convenient, but digital banks in the Philippines are still building out their home loan infrastructure. First Metro Investment's institutional pedigree is reassuring but its retail home loan product is not as widely accessible as those of major commercial banks like BDO or BPI. For borrowers who want competitive rates and a smooth process, working with a broker like Nook gives you access to multiple lenders simultaneously without the legwork.
Who Should Consider Each Lender?
First Metro Investment may suit you if:
- You already have a relationship with Metrobank Group and prefer consolidated banking
- You are comfortable with a relationship-manager driven process
- You are borrowing a larger amount and can negotiate institutional rates
Maya Bank may suit you if:
- You prefer a fully digital, paperless experience
- You are an existing Maya user comfortable with the ecosystem
- You have a smaller loan requirement and want a streamlined process
Consider Nook if:
- You want to compare rates from multiple banks at once — for free
- You want access to the lowest available refinance rate of 5.99% p.a.
- You want expert guidance through the entire refinancing process without paying broker fees
If you are curious how other bank pairings stack up, our comparison of CIMB vs PBCOM home loan rates is a useful read for borrowers evaluating newer entrants against established names.
Refinancing Verdict: Can You Do Better?
If you are currently paying above 7% p.a. on your home loan — with First Metro Investment, Maya Bank, or any other lender — there is a strong chance you are leaving significant money on the table. The best refinance rate currently available through Nook is 5.99% p.a. On a 3,000,000 loan over 20 years, switching from 8.25% to 5.99% saves you roughly 4,150 every single month. Over the full loan term, that adds up to nearly 1,000,000 in total interest savings.
The refinancing process can feel daunting, but Nook handles the comparison, paperwork coordination, and bank negotiations on your behalf — at no cost to you. There is no obligation to proceed after your initial consultation.
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Compare My Options →Frequently Asked Questions
Does First Metro Investment offer home loans for refinancing?
First Metro Investment Corporation is primarily an investment bank under the Metrobank Group. While it has lending capabilities, its home loan and refinancing products are not as widely marketed as those of mainstream retail banks. It is best to contact them directly or speak with a Nook advisor who can clarify current availability and compare it against other lenders on your behalf.
Does Maya Bank offer home loans in the Philippines?
Maya Bank is a licensed digital bank in the Philippines and has been expanding its consumer lending products. However, home loans are a complex, long-term product and digital banks are still building out this capability. Always confirm with Maya Bank directly whether home loan or refinancing products are currently available to you, and compare any offer against the broader market through Nook.
What is the best home loan refinance rate available in the Philippines right now?
Through Nook, the best refinance rate currently available is 5.99% per annum. This is significantly lower than the 7% to 10% that most Filipino homeowners are currently paying on their existing home loans. Nook is free to use and compares rates from multiple banks simultaneously.
How much can I save by refinancing from 8.25% to 5.99% on a 3,000,000 loan?
On a 3,000,000 peso home loan over 20 years, refinancing from 8.25% p.a. to 5.99% p.a. could reduce your monthly payment by approximately 4,150 pesos. Over the full loan term, total interest savings could reach close to 996,000 pesos. These are illustrative figures based on a standard amortizing calculation; actual savings depend on your specific loan balance, remaining term, and applicable rate.
Is it worth refinancing if I only have a few years left on my home loan?
Generally, refinancing makes the most sense when you have a substantial remaining balance and enough years left on your loan to recoup the upfront costs through monthly savings. If you have less than five years remaining, the savings may not outweigh the transaction costs. A Nook advisor can run a break-even analysis for your specific situation at no cost.
How does Nook make money if the service is free for borrowers?
Nook earns a referral fee from its bank partners when a loan is successfully processed. This is a standard practice for mortgage brokers and means Nook's incentives are aligned with getting you the best possible deal — not charging you fees. Borrowers pay nothing to use Nook's comparison and advisory service.
What documents do I need to refinance my home loan in the Philippines?
Standard documents for home loan refinancing in the Philippines typically include a valid government-issued ID, proof of income (payslips or ITR for employed applicants; audited financial statements for self-employed), your existing loan statement of account, the Transfer Certificate of Title (TCT) of the property, tax declaration, and proof of fire insurance. Nook will guide you through the specific requirements of your chosen bank.