Philippine Home Loan Interest Rates 2026: Full Bank Comparison
Home loan interest rates in the Philippines vary significantly from bank to bank, and even within the same bank depending on the fixing period you choose. Below is a comprehensive side-by-side breakdown of what the major banks are offering in 2026, followed by a guide to help you decide which is right for you.
Already have a home loan? There's a good chance you're overpaying. Most Filipino homeowners are on rates between 7% and 10% — but the best refinance rate available today through Nook is 5.99% p.a. See how much you could save further down this page.
2026 Home Loan Rate Comparison Table: All Major Philippine Banks
| Bank | 1-Year Fix | 2-Year Fix | 3-Year Fix | 5-Year Fix | 10-Year Fix |
|---|---|---|---|---|---|
| BDO | 6.50% | 6.75% | 7.00% | 7.25% | 7.75% |
| BPI | 6.25% | 6.50% | 6.75% | 7.00% | 7.50% |
| Metrobank | 6.50% | 6.75% | 7.00% | 7.25% | 7.75% |
| Security Bank | 6.25% | 6.50% | 6.88% | 7.13% | 7.63% |
| RCBC | 6.50% | 6.75% | 7.00% | 7.38% | 7.88% |
| UnionBank | 6.75% | 7.00% | 7.25% | 7.50% | 8.00% |
| PNB | 6.75% | 7.00% | 7.25% | 7.50% | 8.00% |
| Chinabank | 6.50% | 6.75% | 7.00% | 7.25% | 7.75% |
| EastWest Bank | 7.00% | 7.25% | 7.50% | 7.75% | 8.25% |
| PSBank | 6.75% | 7.00% | 7.25% | 7.50% | 8.00% |
| Robinsons Bank | 7.00% | 7.25% | 7.50% | 7.75% | 8.25% |
| UCPB / Landbank | 6.75% | 7.00% | 7.25% | 7.50% | 8.00% |
| Pag-IBIG (HDMF) | 6.375% | 6.375% | 6.375% | 6.750% | 7.000% |
| Best via Nook (Refinance) | 5.99% | 5.99% | 5.99% | 5.99% | 5.99% |
Rates shown are indicative for 2026 and may vary based on loan amount, LTV ratio, income profile, and bank promotions. Always confirm with the bank or with Nook before deciding.
BDO vs BPI Home Loan Rates 2026: Head to Head
BDO and BPI are the two largest banks in the Philippines by assets, and both are popular choices for home loans. Here's a deeper look at how they compare:
BDO Home Loan 2026
- 1-Year Fixed: 6.50% p.a.
- 3-Year Fixed: 7.00% p.a.
- 5-Year Fixed: 7.25% p.a.
- Min. Loan Amount: 1,000,000
- Max. Loan Term: 20 years
- Processing Fee: ~10,000 (varies)
- Appraisal Fee: Required
- Income Requirement: Min. 40,000/month
BDO offers wide branch coverage, making it convenient for loan servicing. Their rates are competitive but sit slightly above BPI's short-term fixed offers. BDO is a strong option if you value in-branch support and have an existing relationship with the bank.
BPI Home Loan 2026
- 1-Year Fixed: 6.25% p.a.
- 3-Year Fixed: 6.75% p.a.
- 5-Year Fixed: 7.00% p.a.
- Min. Loan Amount: 800,000
- Max. Loan Term: 20 years
- Processing Fee: ~10,000 (varies)
- Appraisal Fee: Required
- Income Requirement: Min. 40,000/month
BPI consistently offers some of the sharpest rates among the big commercial banks. Their digital onboarding process is smoother than most, and their short-term fixed rates — particularly the 1-year and 3-year — are among the lowest you'll find without going through a broker. For a detailed comparison of BPI vs Metrobank, see our dedicated page.
How Much Can You Save by Refinancing in 2026?
The difference between a 7.5% rate (common for loans taken out 3–5 years ago) and today's best rate of 5.99% is meaningful — especially on larger loan amounts. Here's what that looks like in real peso terms:
| Outstanding Loan Balance | Current Rate | Monthly Payment | Rate After Refinancing | New Monthly Payment | Monthly Savings | Annual Savings |
|---|---|---|---|---|---|---|
| 1,500,000 | 7.50% | 13,926 | 5.99% | 12,639 | 1,287 | 15,444 |
| 2,000,000 | 7.50% | 18,568 | 5.99% | 16,852 | 1,716 | 20,592 |
| 3,000,000 | 7.50% | 27,852 | 5.99% | 25,278 | 2,574 | 30,888 |
| 5,000,000 | 7.50% | 46,420 | 5.99% | 42,130 | 4,290 | 51,480 |
| 8,000,000 | 7.50% | 74,272 | 5.99% | 67,408 | 6,864 | 82,368 |
Monthly payment estimates based on a 20-year remaining term. Actual savings depend on your remaining term, outstanding balance, and the refinance package offered.
If your loan is already above 7%, refinancing is almost certainly worth exploring. Nook's service is completely free — we're paid by the bank, not by you.
Which Bank Offers the Best Home Loan in the Philippines for 2026?
The honest answer is: it depends on your situation. Here's a quick guide by borrower type:
- Best for lowest rate (new purchase): BPI or Security Bank — both offer 1-year fixed rates starting at 6.25% p.a.
- Best for longest fixing period at a low rate: Pag-IBIG (HDMF) offers fixed rates of 6.375% up to 3 years and is hard to beat for qualified members.
- Best for large loan amounts (5M+): BPI, Security Bank, or refinancing through Nook for the 5.99% rate.
- Best for existing homeowners looking to refinance: Nook — we find you the best rate across all our partner banks, currently 5.99% p.a., with zero broker fees.
- Best for OFWs: BDO and BPI both have dedicated OFW home loan programs with competitive terms.
For a broader look at how all banks stack up, including scoring by fees, processing time, and flexibility, read our full Philippine bank home loan comparison for 2026.
Key Factors to Compare Beyond the Interest Rate
The interest rate is the most important number — but it's not the only one. Before signing with any bank, make sure you understand:
- Fixing period and repricing rate: A low 1-year fixed rate sounds great until you see what the bank will reprice you to after 12 months. Always ask for the repricing rate before committing.
- Processing and miscellaneous fees: Banks charge appraisal fees, processing fees, notarial fees, and registration costs. These can add up to 30,000–80,000 depending on the bank and loan amount.
- Penalty for early repayment: Some banks charge a prepayment penalty if you pay off or refinance within the lock-in period. This is a critical detail if you plan to refinance in a few years.
- Loan-to-value (LTV) ratio: Most banks lend up to 70–80% of the appraised value. Some offer up to 90% LTV for qualified borrowers, which affects how much equity you need.
- Income documentation requirements: Banks have different requirements for employees vs. self-employed vs. OFW borrowers. Make sure you qualify before you apply.
Should You Go Directly to a Bank or Use a Mortgage Broker Like Nook?
When you apply directly to a bank, you only see that bank's rates. When you work with Nook, you get access to multiple lenders in one application — and we do the legwork of finding you the best deal. Here's the key difference:
Applying Directly to a Bank
- You only compare one bank at a time
- You submit multiple sets of documents
- You negotiate rates on your own
- Time-consuming if you want to shop around
- No independent advice on which product suits you
Using Nook (Free Mortgage Broker)
- One application, multiple bank offers
- Access to exclusive rates not available at branch (currently 5.99% p.a.)
- Nook handles document collection and bank coordination
- 100% free — the bank pays Nook's fee, not you
- Independent advice tailored to your loan profile
Nook is particularly valuable if you already have a home loan and want to know if refinancing makes sense. We'll run the numbers for you at no cost and tell you honestly whether switching is worth it.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
What is the current home loan interest rate in the Philippines in 2026?
Home loan interest rates in the Philippines in 2026 range from approximately 5.99% to 8.50% p.a., depending on the bank, fixing period, and your borrower profile. Among major commercial banks, BPI and Security Bank offer some of the lowest rates starting at 6.25% p.a. for a 1-year fixed period. The lowest rate currently available through Nook for refinancing is 5.99% p.a. Most existing homeowners are still paying between 7% and 10%, which means refinancing could generate significant savings.
Which bank has the lowest home loan interest rate in the Philippines in 2026?
Among the big commercial banks, BPI and Security Bank are consistently among the lowest for 2026, with 1-year fixed rates starting at 6.25% p.a. Pag-IBIG (HDMF) offers competitive rates of 6.375% fixed for up to 3 years for qualified members. However, the lowest rate currently available in the market is 5.99% p.a. — accessible through Nook's refinance program. Since rates change regularly, the best way to confirm the current lowest rate is to get a free assessment through Nook.
How do I compare home loan rates across all Philippine banks?
You can compare by visiting each bank's website, calling their hotlines, or visiting branches — but this is time-consuming and you'll often get inconsistent information. A faster approach is to use a mortgage broker like Nook, which gives you access to multiple bank offers through a single application. Nook's service is 100% free to borrowers. Alternatively, review comparison tables like the one on this page and use them as a starting point before getting formal quotes.
Is it worth refinancing my home loan in the Philippines in 2026?
For most homeowners who took out their loan 3 or more years ago, refinancing is worth considering. If your current rate is 7% or above, moving to 5.99% p.a. on a 3,000,000-peso loan could save you over 30,000 pesos per year. The main costs to weigh are the bank processing and registration fees (typically 30,000–70,000 pesos), but these are usually recovered within 1–2 years of savings. Nook offers a free refinance assessment to help you calculate whether the numbers make sense for your specific situation.
What is a fixed-rate period and why does it matter?
A fixed-rate period is the number of years your interest rate stays locked in at the agreed level — typically 1, 2, 3, 5, or 10 years. After this period ends, the bank will reprice your loan to a new rate based on market conditions. A shorter fixing period usually comes with a lower initial rate, but carries more repricing risk. A longer fixing period gives you payment predictability but typically at a higher rate. When comparing banks, always ask what the repricing rate will be after the fixed period — not just the initial headline rate.
Can I get a home loan from BDO or BPI if I am an OFW?
Yes. Both BDO and BPI have dedicated OFW home loan programs. BDO's OFW housing loan accepts documentary requirements aligned with overseas employment, including contracts and remittance records. BPI similarly accommodates OFW borrowers with flexible income documentation. Pag-IBIG also has an OFW housing loan program with competitive rates for active HDMF members. Nook can help OFW borrowers identify which bank's program best fits their specific situation.
What are the typical fees involved in getting a home loan in the Philippines?
Beyond the interest rate, expect to pay a processing or application fee (typically 5,000–10,000 pesos), an appraisal or property valuation fee (5,000–15,000 pesos), notarial fees, mortgage registration fees with the Registry of Deeds, and transfer taxes if buying a property. In total, closing costs can range from 30,000 to over 100,000 pesos depending on the loan amount and property location. When refinancing, some of these fees apply again — which is why it's important to calculate your break-even point before proceeding.
How does Nook find me a lower interest rate than what the bank offers directly?
Nook has partnerships with multiple Philippine banks and accesses wholesale or promotional rates that are not always available at the branch counter. Because Nook brings volume to the bank, it can negotiate better rates on behalf of its clients. The borrower pays nothing — Nook earns a referral fee from the bank upon successful loan drawdown. This means you get a better rate AND independent advice, at zero cost to you.