Philippine Home Loan Banks at a Glance: 2026
Shopping for a home loan — or refinancing your existing one — means comparing not just interest rates but also fixing periods, loan-to-value limits, processing times, and how each bank treats different borrower profiles. Below we cover the most prominent banks in the Philippine home loan market so you can make a more informed decision.
For a deeper look at current posted rates across all lenders, see our full guide to Philippines bank loan interest rates 2026.
BDO Home Loan
BDO Unibank is the Philippines' largest bank by assets and one of the most active home loan originators in the country. Its home loan product is widely available through branches nationwide, making it accessible for borrowers outside Metro Manila.
- Typical interest rate: 7.00%–8.75% p.a. depending on fixing period
- Fixing periods available: 1, 2, 3, 5, 10, and 15 years
- Maximum loan-to-value (LTV): Up to 80% for house and lot
- Maximum loan term: Up to 25 years
- Minimum loan amount: 500,000
- Best for: Borrowers who want wide branch access and an established processing track record
BDO's strengths: Large branch and ATM network, accepts a wide range of collateral types, and has a well-known brand that some borrowers find reassuring. BDO is also commonly used for refinancing existing loans from Pag-IBIG and smaller banks.
BDO's limitations: Processing times can be slower than challenger banks, and their posted rates are not always the sharpest in the market for well-qualified borrowers.
BPI Home Loan
Bank of the Philippine Islands (BPI) is one of the oldest and most respected banks in the country. Its home loan product is considered a benchmark in the market, and BPI is frequently cited by brokers and financial advisors as having competitive rates for salaried borrowers with clean credit histories.
- Typical interest rate: 6.75%–8.50% p.a. depending on fixing period
- Fixing periods available: 1, 2, 3, 5, 10, 15, and 20 years
- Maximum LTV: Up to 80% for house and lot; up to 70% for condominium units
- Maximum loan term: Up to 20 years
- Minimum loan amount: 400,000
- Best for: Salaried employees of large corporations, professionals, and OFWs with documented income
BPI's strengths: Competitive rates for qualified borrowers, relatively streamlined digital application experience, and a strong reputation for consistent loan servicing. BPI also has one of the better customer portals for managing your home loan online.
BPI's limitations: Can be more conservative in approvals for self-employed borrowers or those with variable income. Condo LTV cap of 70% may be limiting for some buyers.
Metrobank Home Loan
Metrobank is the Philippines' second-largest bank and offers a competitive home loan product that is particularly well-regarded among self-employed borrowers and business owners, who sometimes find it easier to qualify at Metrobank than at BPI.
- Typical interest rate: 7.00%–8.75% p.a. depending on fixing period
- Fixing periods available: 1, 2, 3, 5, and 10 years
- Maximum LTV: Up to 80% for house and lot
- Maximum loan term: Up to 25 years
- Minimum loan amount: 500,000
- Best for: Self-employed borrowers, business owners, and borrowers purchasing in areas with strong Metrobank branch presence
Metrobank's strengths: More flexible underwriting for non-traditional income, longer available loan terms, and competitive rates on mid-range fixing periods. Metrobank is also a popular destination for refinancing from Pag-IBIG.
Metrobank's limitations: Digital application experience lags behind BPI. Some borrowers report longer turnaround times for appraisals outside key urban areas.
Security Bank Home Loan
Security Bank has invested significantly in its home loan product and is considered one of the more competitive mid-tier banks in the Philippines for mortgage lending. It is especially known for aggressive promotional rates and faster-than-average processing.
- Typical interest rate: 6.75%–8.50% p.a. depending on fixing period
- Fixing periods available: 1, 2, 3, 5, and 10 years
- Maximum LTV: Up to 80% for house and lot
- Maximum loan term: Up to 20 years
- Minimum loan amount: 1,000,000
- Best for: Borrowers looking for competitive rates and faster processing, especially in Metro Manila
Security Bank's strengths: Competitive rates, proactive relationship managers, and a reputation for quicker approvals than the Big Three. Security Bank has also been known to offer sharper rates to borrowers refinancing from other banks.
Security Bank's limitations: Higher minimum loan amount may exclude some borrowers. Branch network is more limited outside Metro Manila and key cities.
RCBC Home Loan
Rizal Commercial Banking Corporation (RCBC) is a major universal bank with a solid home loan offering. RCBC is particularly active in the OFW and overseas Filipino market, with processes designed to accommodate borrowers based abroad.
- Typical interest rate: 7.25%–9.00% p.a. depending on fixing period
- Fixing periods available: 1, 2, 3, 5, and 10 years
- Maximum LTV: Up to 80% for house and lot
- Maximum loan term: Up to 20 years
- Minimum loan amount: 500,000
- Best for: OFWs, overseas Filipinos, and borrowers who need a lender experienced with foreign-sourced income documentation
RCBC's strengths: Strong OFW lending capability, nationwide branch presence, and flexibility on documentation for borrowers with overseas income. RCBC Bankard customers may also benefit from relationship pricing.
RCBC's limitations: Rates are generally slightly higher than BPI and Security Bank for equivalent borrower profiles. Processing experience can vary by branch.
Other Notable Banks: UnionBank, Chinabank, EastWest, PNB, PSBank
Beyond the five banks above, several other lenders are worth considering depending on your profile:
- UnionBank: Strong digital banking infrastructure; home loan product is less prominent but available. Good option for existing UnionBank clients.
- China Banking Corporation (Chinabank): Conservative underwriting but competitive rates for Chinese-Filipino business owners and established entrepreneurs.
- EastWest Bank: Known for flexible terms and sometimes faster processing; rates are broadly in line with mid-tier banks.
- PNB (Philippine National Bank): Government-affiliated with a wide branch network. Competitive for government employees and PNB account holders.
- PSBank: Subsidiary of Metrobank with a focused retail banking approach. Home loan product mirrors Metrobank's in many respects.
Pag-IBIG (HDMF) vs. Bank Loans: A Critical Distinction
For many Filipino homebuyers, the first home loan they encounter is through Pag-IBIG (the Home Development Mutual Fund). Pag-IBIG offers subsidized rates and is accessible to both employed and self-employed contributors, but it comes with its own set of trade-offs.
- Pag-IBIG rate: Currently 5.375%–10.00% p.a. depending on loan amount and term (with the lowest rates on loans below 750,000)
- Pag-IBIG strengths: Accessible to informal sector workers, lower rates on smaller loan amounts, government-backed security
- Pag-IBIG limitations: Slower processing, stricter property requirements, rate repricing after fixing period can be unfavorable
Many homeowners who started with a Pag-IBIG loan refinance to a commercial bank after a few years, especially once their loan balance grows beyond the subsidized tier or their income increases enough to qualify for bank financing. If you are in this situation, refinancing could significantly reduce your monthly payments.
What Actually Determines Your Rate?
The posted rates advertised by banks are starting points, not guarantees. Your actual approved rate will depend on several factors:
- Loan-to-value ratio: Borrowers putting down 30–40% or more typically receive better rates than those borrowing at 80% LTV
- Employment type: Salaried employees of large companies are generally viewed as lower risk than self-employed borrowers
- Income stability and documentation: Two or more years of consistent documented income strengthens your application
- Existing relationship with the bank: Some banks offer relationship pricing to existing account holders or credit card customers
- Loan amount: Larger loan amounts (above 3,000,000) may qualify for better rates at some banks
- Fixing period chosen: Shorter fixing periods (1–2 years) usually carry lower initial rates but expose you to repricing risk sooner
Understanding what you will need to prepare is also important before applying. Our guide on home loan refinance requirements in the Philippines covers the documentation banks typically ask for.
Side-by-Side Rate Comparison
| Bank | 3-Year Fix (est.) | 5-Year Fix (est.) | Max Term | Best For |
|---|---|---|---|---|
| BDO | 7.25% | 7.75% | 25 yrs | Branch accessibility |
| BPI | 7.00% | 7.50% | 20 yrs | Salaried employees |
| Metrobank | 7.25% | 7.75% | 25 yrs | Self-employed borrowers |
| Security Bank | 6.99% | 7.50% | 20 yrs | Competitive rates, fast approval |
| RCBC | 7.50% | 8.00% | 20 yrs | OFWs and overseas Filipinos |
Rates are indicative estimates based on publicly available information as of 2026 and may vary based on borrower profile, loan amount, and bank policy. Contact Nook for actual quotes.
Monthly Payment Comparison: How Much Could You Save?
To make the rate differences tangible, here is what a 5,000,000 home loan over 20 years would cost at different rates:
| Interest Rate | Monthly Payment (est.) | Total Interest Paid | vs. 5.99% Nook Rate |
|---|---|---|---|
| 5.99% (Nook best rate) | 35,753 | 3,580,720 | — |
| 7.00% | 38,765 | 4,303,600 | +722,880 more |
| 7.75% | 40,603 | 4,744,720 | +1,164,000 more |
| 9.00% | 44,986 | 5,796,640 | +2,215,920 more |
Calculations are approximate and based on a fully amortizing loan with no rate repricing. Actual amounts will vary. Use our home loan refinance savings calculator to run your own numbers.
Why Applying to One Bank Is a Mistake
Most Filipino homeowners apply to one or two banks, wait weeks for a response, and then accept whatever rate they are offered — often without knowing whether a better deal exists elsewhere. This is one of the costliest mistakes in personal finance.
Banks do not compete for your business if they do not know they are being compared. When you apply through Nook, multiple banks are aware that they are bidding for your loan, which creates genuine competitive pressure. Nook's brokers also know which banks are currently the most aggressive for different borrower profiles, which means your application goes to the right lenders from the start.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
Which Philippine bank has the lowest home loan interest rate in 2026?
No single bank consistently has the lowest rate for all borrowers. Security Bank and BPI tend to be competitive for well-qualified salaried borrowers, while Metrobank can be more flexible for self-employed applicants. The best way to find the lowest rate for your specific profile is to compare multiple banks at once — which is exactly what Nook does for free. The best refinance rate currently available through Nook is 5.99% p.a.
Is it better to get a home loan from BPI or BDO?
For salaried employees with clean credit histories, BPI's rates tend to be slightly more competitive, and their digital experience is stronger. BDO's advantage is its wider branch network and longer available loan terms of up to 25 years. If you are self-employed or have a more complex income profile, Metrobank may outperform both. The best approach is to let Nook compare offers from all three simultaneously.
Can I refinance my Pag-IBIG loan to a commercial bank?
Yes, and many Filipino homeowners do exactly this. Once your loan balance and income level make you eligible for commercial bank financing, refinancing from Pag-IBIG to a bank like BPI, Security Bank, or Metrobank can result in a significantly lower rate. The process involves paying off the Pag-IBIG balance using the proceeds of your new bank loan and transferring the collateral. Nook can guide you through this entire process at no cost.
What is a fixing period and why does it matter?
A fixing period is the number of years your interest rate is locked in before the bank reprices it. Common options are 1, 2, 3, 5, and 10 years. A shorter fixing period usually means a lower initial rate but exposes you to rate increases sooner. A longer fixing period gives you payment stability but may cost more upfront. Choosing the right fixing period depends on your financial outlook, how long you plan to keep the loan, and current interest rate trends.
How long does it take to get approved for a home loan in the Philippines?
Approval timelines vary widely by bank. Security Bank and BPI are generally faster, often issuing conditional approvals within 5–10 business days for complete applications. BDO and Metrobank can take 2–4 weeks or longer. Delays are most commonly caused by incomplete documentation, slow property appraisals, or internal credit review backlogs. Applying through Nook helps because brokers know how to prepare applications to minimize back-and-forth with banks.
What documents do I need to apply for a home loan in the Philippines?
Standard requirements across most banks include a valid government ID, proof of income (payslips, ITR, or audited financial statements for self-employed applicants), a certificate of employment, bank statements from the past 3–6 months, and property documents such as the Transfer Certificate of Title and tax declaration. Requirements vary slightly by bank and borrower type. See the full breakdown in our guide to home loan refinance requirements in the Philippines.
What are the closing costs when refinancing a home loan in the Philippines?
Refinancing involves several one-time costs including a bank processing fee, appraisal fee, notarial fees, registration fees with the Registry of Deeds, and documentary stamp tax. Total closing costs typically range from 1% to 3% of the loan amount depending on the bank and property value. It is important to factor these costs into your savings calculation to determine how long it takes to break even on a refinance. Nook provides a clear cost breakdown before you commit to anything.
Can OFWs apply for a home loan in the Philippines?
Yes. Most major Philippine banks have home loan products designed for OFWs, though documentation requirements differ from locally employed borrowers. RCBC and BDO are particularly active in the OFW lending space. OFWs typically need to provide an employment contract, proof of remittances, a valid OEC or work permit, and may need a co-borrower or attorney-in-fact based in the Philippines. Nook works with OFW borrowers regularly and can advise on which banks are most accommodating for your specific situation.