Philippine banks are repricing loans in 2026 — and most homeowners still don't know if they're getting a fair rate. Nook compares every major bank so you can find the lowest home loan interest rate in the Philippines, free.
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Why this matters
Home loan interest rates in the Philippines vary significantly from bank to bank — and even from branch to branch. In 2026, fixed rates from major lenders like BDO, BPI, Metrobank, Security Bank, and RCBC typically range from 6.5% to 9.5% per annum depending on your loan size, fixing period, and relationship with the bank. The problem is that most homeowners signed their loan years ago and have never checked whether a better rate exists. If you're paying anywhere above 7%, there's a strong chance you're leaving money on the table every single month. See how Philippine home loan interest rates have been trending and what experts expect in the year ahead.
The cheapest home loan rate currently available through Nook is 5.99% p.a. — well below what most Filipino homeowners are paying right now. On a 3,000,000 loan with 20 years remaining, moving from 8.5% to 5.99% saves nearly 4,000 pesos every month. That's real money: school fees, family savings, or simply more financial breathing room. Refinancing doesn't have to be complicated either. Check the typical refinance requirements in the Philippines to see if you're likely to qualify before you even apply.
Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers. We do the bank comparison work for you — submitting your profile to multiple lenders simultaneously and surfacing the best offer for your situation. There's no obligation, no hidden fees, and no pressure. Whether you're with a private bank, a rural bank, or Pag-IBIG, it's worth knowing what rate you could be getting instead.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
Rates shift regularly, but through Nook the lowest available rate is currently 5.99% p.a. Banks like Security Bank, RCBC, and BPI have been competitive on refinance offers in 2026, but the best rate for you depends on your loan size, tenure, and credit profile. That's exactly why comparing through a broker like Nook gives you an advantage over going to a single bank directly.
Anything at or below 6.5% p.a. is considered competitive in the current Philippine market. Most homeowners who took out loans between 2018 and 2022 are sitting on rates between 7% and 9.5%, which means there is meaningful room to refinance downward. If your current rate starts with a 7 or higher, it's worth getting a free comparison through Nook.
You can approach each bank individually, but that means multiple applications, multiple credit inquiries, and hours of paperwork. A faster approach is to use Nook's free service, which submits your profile to several banks at once and presents you with the best offers side by side. You can also use the Nook refinance calculator to estimate your potential savings before you start.
Yes, refinancing typically involves closing costs such as appraisal fees, notarial fees, and documentary stamp tax — usually amounting to 1% to 2% of the loan amount. However, when the monthly savings are significant, most borrowers recover these costs within 12 to 24 months. Nook's service itself is 100% free to the borrower; we are compensated by the bank when your loan is approved.
Yes, it is possible to refinance from Pag-IBIG to a private bank if the new bank's rate is lower and you meet their eligibility criteria. However, you should factor in any penalties from Pag-IBIG and the closing costs of the new loan before deciding. Nook can help you model both scenarios so you can see whether the switch makes financial sense for your specific situation.
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