First Metro Investment vs Tonik

First Metro Investment vs Tonik: Home Loan Overview

Choosing between First Metro Investment and Tonik for a home loan or refinance depends on what you value most: institutional credibility and relationship banking versus digital speed and transparency. Here's how they stack up across the most important dimensions.

Interest Rate Comparison

Interest rate is the single biggest factor in your monthly payment and total loan cost. Unfortunately, First Metro Investment does not publish its home loan rates on its website — borrowers must contact the institution directly for a quote. This lack of transparency makes it difficult to compare without going through the full application process.

Tonik, on the other hand, is more open about its indicative rates, which typically start around 6.99% p.a. for qualified borrowers. While this is better than the 8%–10% many Filipinos are currently paying, it is still higher than the 5.99% p.a. available through Nook's refinancing platform.

To illustrate the difference a lower rate makes, consider a ₱3,000,000 home loan with a 20-year term:

Refinancing from 8.00% to 5.99% saves approximately 1,602 per month and over 864,000 in total interest over the life of the loan — a compelling reason to shop around before committing to any single lender.

Fees and Charges

Beyond the interest rate, fees can significantly affect the true cost of your home loan. Here's what to watch for with each lender:

• First Metro Investment: Processing and appraisal fees are not publicly listed. Borrowers should request a full breakdown of charges — including documentary stamp tax (DST), mortgage registration fee, and notarial fees — before proceeding. These can add up to 2%–4% of the loan amount in one-time costs.
• Tonik: Tonik typically charges a processing fee of around 1% of the loan amount. As a digital bank, some administrative fees may be lower than traditional lenders, but standard government-mandated charges (DST, registration) still apply.

When refinancing through Nook, there is no broker fee whatsoever. Nook is paid by the bank, not the borrower, so you get access to multiple lender offers — including rates as low as 5.99% p.a. — at zero cost to you.

Application Process and Eligibility

First Metro Investment follows a more traditional, relationship-driven application process. Borrowers typically need to visit a branch or work through a relationship manager. This can be an advantage if you prefer personal guidance but may slow things down for those who want a quick turnaround.

Tonik is built for digital-first borrowers. Its home loan application is completed through the Tonik app, with minimal paperwork and a faster initial review. This appeals particularly to younger borrowers and OFWs who may not have easy access to branch banking.

General eligibility requirements across both lenders typically include:

• Filipino citizen or eligible foreign national
• At least 21 years old at time of application, not exceeding 65–70 years old at loan maturity
• Stable income (employed, self-employed, or OFW)
• Property must be titled and located in an eligible area
• Good credit standing

If you're also exploring other digital bank options, you may find our comparison of Asia United Bank vs Tonik home loan rates useful for further context on how Tonik measures up against other lenders.

Which Borrower Profile Fits Each Lender?

First Metro Investment may suit you if:

• You already have an existing relationship with First Metro or Metrobank Group
• You prefer working with a human relationship manager through the process
• You have a complex financial situation that benefits from personalised guidance

Tonik may suit you if:

• You prefer a fully digital, app-based experience
• You want upfront rate transparency before committing
• You value speed in the initial stages of the application

Nook may suit you if:

• You want to compare multiple lenders in one place without paying a broker fee
• You're focused on getting the lowest possible rate (currently 5.99% p.a.)
• You want expert guidance without being tied to a single bank's product

Should You Refinance Through Either of These Banks?

If you're currently paying 7% or more on your home loan, refinancing could save you hundreds of thousands of pesos over your remaining loan term. The question is whether First Metro Investment or Tonik is the right vehicle for that refinancing — or whether a broader comparison will serve you better.

For borrowers comparing smaller or newer lenders in this space, our CIMB vs PBCOM home loan comparison also explores how challenger banks and mid-tier lenders stack up on refinancing.

The honest answer: neither First Metro Investment nor Tonik guarantees the lowest rate available in the Philippine market today. Nook's platform gives you access to offers from multiple BSP-licensed banks and financial institutions — and with a best available rate of 5.99% p.a., it's worth getting a free quote before locking in with any single lender.