2026 Home Loan Rate Comparison: Major Philippine Banks at a Glance
Whether you're buying your first home or refinancing an existing loan, choosing the right bank can save you hundreds of thousands of pesos over the life of your mortgage. Below is a comprehensive comparison of home loan rates and key terms from BDO, BPI, Security Bank, Metrobank, and other major banks in the Philippines for 2026.
Important: Rates for Nook partner banks (BDO, BPI, Security Bank) are verified and current. Rates for non-partner banks such as Metrobank are approximate, based on publicly available information, and are subject to change without notice. Always verify current rates directly with the bank or through a licensed broker like Nook.
| Bank | 1-Year Fixed Rate | 5-Year Fixed Rate | Min. Monthly Income | Max DTI | Typical Approval | Nook Partner? |
|---|---|---|---|---|---|---|
| BDO Unibank | 6.00% | N/A | 50,000 | 40% | ~30 days | ✅ Yes |
| BPI Family Savings Bank | 6.70% | 6.50% | 40,000 | 40% | ~52 days | ✅ Yes |
| Security Bank | 6.99% | 6.75% | 50,000 | 40% | ~23 days | ✅ Yes |
| Metrobank | ~7.00–8.50%* | ~7.50–9.00%* | Varies | Varies | Varies | ❌ No |
| RCBC | ~7.50–9.00%* | ~8.00–9.50%* | Varies | Varies | Varies | ❌ No |
| UnionBank | ~7.50–9.00%* | ~8.00–9.50%* | Varies | Varies | Varies | ❌ No |
| PNB | ~7.00–9.00%* | ~7.50–9.50%* | Varies | Varies | Varies | ❌ No |
| Chinabank | ~7.50–9.00%* | ~8.00–9.50%* | Varies | Varies | Varies | ❌ No |
| EastWest Bank | ~7.50–9.50%* | ~8.00–10.00%* | Varies | Varies | Varies | ❌ No |
| PSBank | ~7.50–9.50%* | ~8.00–10.00%* | Varies | Varies | Varies | ❌ No |
| Pag-IBIG (HDMF) | ~6.50–7.00%* | ~7.00–8.00%* | Varies | Varies | Varies | ❌ No |
* Approximate rates based on publicly available information. Actual rates vary by loan amount, term, borrower profile, and promotional periods. Rates are subject to change. Verify with the bank directly or through Nook.
Deep Dive: BDO Home Loan
BDO Unibank is the Philippines' largest bank by assets and one of the most sought-after home loan providers. Through Nook, BDO's verified 1-year fixed rate starts at just 6.00% p.a. — currently the lowest confirmed rate available through our platform.
- 1-Year Fixed Rate: 6.00% p.a.
- Home Equity Rate: 6.00% p.a.
- Minimum Monthly Income: 50,000
- Maximum DTI: 40%
- Typical Approval Time: ~30 days
- Eligible Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
- Loan Purposes: Refinancing, Home Equity, New Construction, Pre-Selling, RFO, Renovation, Reselling, Foreclosed Properties
Best for: Borrowers who want the lowest available rate and have a stable income of at least 50,000/month. BDO's wide branch network also makes document submission and follow-ups more convenient for most Filipinos.
Watch out for: BDO does not currently offer a published 5-year fixed rate through Nook. If you prefer long-term rate certainty, consider BPI or Security Bank as alternatives.
Deep Dive: BPI Family Savings Bank Home Loan
BPI Family Savings Bank (BPI FSB) is one of the most borrower-friendly lenders in the Philippines, with the lowest minimum income requirement among Nook's partner banks at just 40,000/month. It also offers both 1-year and 5-year fixed rate options.
- 1-Year Fixed Rate: 6.70% p.a.
- 5-Year Fixed Rate: 6.50% p.a.
- Home Equity Rate: 6.70% p.a.
- Minimum Monthly Income: 40,000
- Maximum DTI: 40%
- Typical Approval Time: ~52 days
- Eligible Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
- Loan Purposes: Refinancing, Home Equity, New Construction, Pre-Selling, RFO, Renovation, Reselling, Foreclosed Properties
Best for: Borrowers who earn between 40,000–50,000/month (who may not qualify for BDO), or those who want the security of a 5-year fixed rate lock-in at 6.50% p.a. BPI's 5-year fixed rate is notably attractive for borrowers who want predictable monthly payments over a longer horizon.
Watch out for: BPI FSB has a longer typical approval timeline of around 52 days — nearly twice as long as Security Bank. If you need fast approval, factor this in.
For a detailed side-by-side breakdown of these two banks alongside Metrobank, see our complete BDO vs BPI vs Metrobank home loan rates comparison for 2026.
Deep Dive: Security Bank Home Loan
Security Bank is a strong contender for borrowers who prioritize speed. With the fastest typical approval time among Nook's partner banks at just ~23 days, it's an excellent choice for time-sensitive purchases or refinancing needs.
- 1-Year Fixed Rate: 6.99% p.a.
- 5-Year Fixed Rate: 6.75% p.a.
- Home Equity Rate: 7.50% p.a.
- Minimum Monthly Income: 50,000
- Maximum DTI: 40%
- Typical Approval Time: ~23 days
- Eligible Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer
- Loan Purposes: Refinancing, Home Equity, New Construction, Pre-Selling, RFO, Renovation, Reselling, Foreclosed Properties
Best for: Borrowers who need fast approval, or freelancers who are often turned away by other banks. Security Bank is the only Nook partner bank that explicitly accepts freelancers as eligible borrowers — a significant advantage for the growing gig economy in the Philippines.
Watch out for: Security Bank's home equity rate of 7.50% is higher than BDO and BPI. If your goal is home equity access rather than a purchase or refinance, compare carefully.
What About Metrobank?
Metrobank is one of the Philippines' largest banks and a popular choice for home loans. However, Metrobank is not currently a Nook partner bank, which means we cannot provide verified, real-time rate data for their products.
Based on publicly available information, Metrobank's home loan rates are estimated to range from approximately 7.00% to 8.50% p.a. for 1-year fixed terms, and 7.50% to 9.00% p.a. for 5-year fixed terms. These figures are approximate and subject to change depending on your borrower profile, loan amount, and property type.
Metrobank does offer competitive promotional rates from time to time, particularly for payroll account holders or buyers of accredited properties. However, without verified data, we cannot guarantee these rates will be available to all borrowers.
Our recommendation: If you're considering Metrobank, use Nook to first secure a verified offer from BDO, BPI, or Security Bank. You can then use that offer as a benchmark when negotiating with Metrobank — or simply proceed with the Nook partner bank offer, which comes with free broker support and a streamlined process.
For a more focused comparison of these three banks and how Metrobank stacks up, read our BDO vs BPI vs Metrobank refinance rates comparison.
How Much Can You Save by Refinancing?
Most Filipino homeowners are currently paying between 7% and 10% on their home loans. With Nook's best available rate of 5.99% p.a., the savings can be substantial. Here's a quick illustration for a 3,000,000 loan over 20 years:
| Current Rate | Monthly Payment (est.) | Nook Best Rate | New Monthly Payment (est.) | Monthly Savings (est.) | Total Savings over 20 Years (est.) |
|---|---|---|---|---|---|
| 7.00% | 23,259 | 5.99% | 21,491 | 1,768 | 424,320 |
| 8.00% | 25,093 | 5.99% | 21,491 | 3,602 | 864,480 |
| 9.00% | 26,992 | 5.99% | 21,491 | 5,501 | 1,320,240 |
| 10.00% | 28,950 | 5.99% | 21,491 | 7,459 | 1,790,160 |
Estimates only. Based on a 3,000,000 loan over 240 months (20 years), fully amortizing. Does not account for processing fees, repricing, or changes in interest rate after the fixed period. Consult Nook for a personalized calculation.
Key Factors to Consider When Comparing Banks
1. Interest Rate Type: Fixed vs. Variable
Philippine home loans typically offer a fixed rate for an initial period (1 year or 5 years), after which the rate is repriced. A 1-year fixed rate gives you a lower starting rate but exposes you to repricing risk sooner. A 5-year fixed rate is higher initially but provides more payment certainty. BPI and Security Bank offer both options through Nook.
2. Income Requirements
BPI has the most accessible minimum income requirement at 40,000/month, making it the go-to option for mid-income earners. BDO and Security Bank both require at least 50,000/month. Non-partner banks may have different thresholds — check directly.
3. Employment Type Eligibility
Most banks accept salaried employees from the private sector and government. OFWs and seafarers are accepted by all three Nook partner banks. Freelancers are uniquely accepted by Security Bank among our verified partners — a key differentiator for independent workers.
4. Approval Speed
If timing matters — such as when buying a pre-selling condo or a resale property with a tight closing deadline — approval speed is critical. Security Bank leads at ~23 days, BDO follows at ~30 days, and BPI typically takes ~52 days. Non-partner bank timelines vary and are not verified by Nook.
5. Loan Purpose
All three Nook partner banks support refinancing, home equity loans, RFO purchases, and new construction. Make sure the loan purpose you need is covered before applying.
Why Use Nook to Compare Banks?
- Free service: Nook charges borrowers nothing. Our broker fee is paid by the bank, not you.
- Verified rates: Unlike comparison sites that rely on outdated published data, Nook works directly with partner banks to provide current, accurate rates.
- Multiple offers in one application: Submit one application and get matched to the best bank for your profile — no need to apply to each bank separately.
- Expert guidance: Our mortgage advisors help you understand your options, prepare your documents, and negotiate the best possible terms.
- No obligation: Getting a rate comparison through Nook is completely free and non-binding.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
Which bank has the lowest home loan rate in the Philippines in 2026?
Among Nook's verified partner banks, BDO Unibank currently offers the lowest 1-year fixed rate at 6.00% p.a. BPI follows at 6.70% and Security Bank at 6.99%. Nook's best available refinance rate across all partners is 5.99% p.a. Rates for non-partner banks such as Metrobank are approximate and subject to change — always verify directly or apply through Nook for a confirmed offer.
How do BDO and BPI home loan rates compare?
BDO offers a lower 1-year fixed rate of 6.00% p.a. versus BPI's 6.70% p.a. However, BPI has a key advantage: it offers a 5-year fixed rate of 6.50% p.a., which BDO does not currently publish through Nook. BPI also has a lower minimum income requirement of 40,000/month versus BDO's 50,000/month. The best choice depends on whether you prioritize the lowest starting rate (BDO) or the accessibility and rate certainty of a 5-year lock-in (BPI).
What is Metrobank's home loan interest rate in 2026?
Metrobank is not currently a Nook partner bank, so we cannot provide verified real-time rates. Based on publicly available information, Metrobank's home loan rates are estimated at approximately 7.00% to 8.50% p.a. for 1-year fixed terms. These rates are approximate and subject to change. We recommend using a verified offer from a Nook partner bank as a benchmark before approaching Metrobank directly.
Which bank is best for home loan refinancing in the Philippines?
For refinancing, BDO offers the lowest verified rate at 6.00% p.a. through Nook, which can result in significant savings if you're currently paying 7% or more. Security Bank is a strong alternative if you need fast approval (~23 days) or if you're a freelancer. BPI is ideal if you want a longer 5-year fixed period at a competitive 6.50% rate. The best bank ultimately depends on your current rate, loan balance, income, and employment type — Nook can help you identify the optimal match for free.
What is the minimum salary requirement for a home loan in the Philippines?
Among Nook's partner banks, BPI has the lowest minimum monthly income requirement at 40,000/month. BDO and Security Bank both require at least 50,000/month. Requirements for non-partner banks like Metrobank, RCBC, and others vary and should be confirmed directly. OFWs and self-employed borrowers may have different income documentation requirements depending on the bank.
Can OFWs and self-employed borrowers apply for a home loan in the Philippines?
Yes. All three of Nook's partner banks — BDO, BPI, and Security Bank — accept OFWs/seafarers and self-employed borrowers. Security Bank additionally accepts freelancers, making it the most inclusive option for non-traditional employment types. Documentation requirements for self-employed applicants typically include ITR, business registration papers, and financial statements.
How long does home loan approval take in the Philippines?
Approval timelines vary by bank. Among Nook's partner banks, Security Bank is the fastest at approximately 23 days. BDO typically takes around 30 days, while BPI averages about 52 days. Non-partner banks' timelines are not verified by Nook. Keep in mind that complete and accurate documentation submission significantly speeds up the approval process regardless of bank.
Is it free to apply for a home loan through Nook?
Yes, Nook's service is 100% free for borrowers. Nook is paid by the bank, not by you, so there is no broker fee or service charge for using Nook to compare banks, get matched to the best offer, or complete your application. You get expert guidance and access to verified rates from multiple banks at no cost.
What is the difference between a 1-year fixed and 5-year fixed home loan rate?
A 1-year fixed rate means your interest rate is locked for the first year, after which the bank will reprice your loan based on prevailing market rates. A 5-year fixed rate locks your rate for five years, giving you longer payment predictability but at a slightly higher starting rate. For example, BPI offers 6.70% for 1-year fixed and 6.50% for 5-year fixed — the 5-year rate is actually lower in this case, making it an attractive option for borrowers who want rate stability. Security Bank offers 6.99% for 1-year and 6.75% for 5-year fixed.
How much can I save by refinancing my home loan in the Philippines?
The savings depend on your current rate, loan balance, and remaining term. As an example, on a 3,000,000 loan over 20 years, refinancing from 8.00% to 5.99% p.a. could reduce your monthly payment by approximately 3,602 and save you over 864,000 in total interest. On a 10% rate, the savings could exceed 1,790,000 over the loan term. Use Nook's free service to get a personalized savings estimate based on your actual loan details.