2026 Home Loan Rates: All Major Philippine Banks at a Glance
Below is a snapshot of indicative home loan interest rates from the Philippines' major banks as of 2026. Rates shown are for typical fixing periods. Always confirm directly with the bank or through a broker like Nook for your specific profile.
| Bank | 1-Year Fixed | 3-Year Fixed | 5-Year Fixed | Best For |
|---|---|---|---|---|
| BDO | 7.25% p.a. | 7.50% p.a. | 7.75% p.a. | Large loan amounts, OFW borrowers |
| BPI | 7.00% p.a. | 7.25% p.a. | 7.50% p.a. | Salaried employees, quick processing |
| Metrobank | 7.25% p.a. | 7.50% p.a. | 7.75% p.a. | Mid-range loan sizes, flexible terms |
| Security Bank | 6.75% p.a. | 7.00% p.a. | 7.25% p.a. | Competitive rates, self-employed |
| PNB | 7.50% p.a. | 7.75% p.a. | 8.00% p.a. | Government employees, OFWs |
| RCBC | 7.00% p.a. | 7.25% p.a. | 7.50% p.a. | Flexible income documentation |
| UnionBank | 7.25% p.a. | 7.50% p.a. | 7.75% p.a. | Digital-first borrowers |
| Chinabank | 7.50% p.a. | 7.75% p.a. | 8.00% p.a. | Chinese-Filipino community, SME owners |
| PSBank | 7.75% p.a. | 8.00% p.a. | 8.25% p.a. | Smaller loan amounts |
| Robinsons Bank | 7.50% p.a. | 7.75% p.a. | 8.00% p.a. | Robinsons property purchases |
| EastWest Bank | 7.50% p.a. | 7.75% p.a. | 8.00% p.a. | Fast approval turnaround |
| Pag-IBIG (HDMF) | 6.50% p.a. | 7.00% p.a. | 7.25% p.a. | Socialized & economic housing, members |
| Nook Best Rate | 5.99% p.a. | 5.99% p.a. | 5.99% p.a. | Homeowners refinancing existing loans |
Rates are indicative and subject to change. Actual rates depend on loan amount, term, property type, and borrower profile. The Nook best rate of 5.99% p.a. is available for qualified refinancing applicants.
How Much Could You Save by Getting a Lower Rate?
Most Filipino homeowners are paying between 7% and 10% on their existing home loans — often because they took whatever rate their bank offered when they first bought their property. A difference of even 1 to 2 percentage points can translate into hundreds of thousands of pesos over the life of your loan.
Example: ₱3,000,000 Loan Over 20 Years
| Scenario | Interest Rate | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| Current (bank average) | 8.50% p.a. | 26,035 | 3,248,400 |
| After refinancing | 5.99% p.a. | 21,491 | 2,157,840 |
| Your Savings | −2.51% p.a. | 4,544/month | 1,090,560 total |
That's over 1,000,000 pesos in interest savings — without changing your property or your lender relationship.
Example: ₱5,000,000 Loan Over 20 Years
| Scenario | Interest Rate | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| Current (bank average) | 8.50% p.a. | 43,391 | 5,413,840 |
| After refinancing | 5.99% p.a. | 35,819 | 3,596,560 |
| Your Savings | −2.51% p.a. | 7,572/month | 1,817,280 total |
BDO vs BPI: The Two Biggest Home Loan Banks in the Philippines
BDO and BPI are the two largest banks in the Philippines by assets and are the most common lenders for home loans. Here's how they compare head-to-head.
| Feature | BDO | BPI |
|---|---|---|
| Minimum Loan Amount | 500,000 | 300,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 80% of appraised value |
| Loan Terms Available | Up to 25 years | Up to 20 years |
| 1-Year Fixed Rate | ~7.25% p.a. | ~7.00% p.a. |
| 5-Year Fixed Rate | ~7.75% p.a. | ~7.50% p.a. |
| OFW Borrowers Accepted | Yes | Yes |
| Self-Employed Accepted | Yes (with requirements) | Yes (with requirements) |
| Processing Time | 2–4 weeks | 1–3 weeks |
| Branch Network | Largest in Philippines | Second largest |
For a deeper dive on these two lenders, see our BPI vs Metrobank home loan comparison which also explores how Metrobank stacks up against both.
Which Bank Is Best for Your Situation?
Best for Lowest Rate: Security Bank or Pag-IBIG
Security Bank consistently offers some of the most competitive rates among private banks, often coming in 0.25–0.50% below BDO and BPI. Pag-IBIG remains the lowest for qualified members, with rates starting at 6.50% p.a. — but loan size and property type restrictions apply.
Best for OFWs: BDO or PNB
Both BDO and PNB have dedicated OFW home loan programs with streamlined requirements for borrowers working abroad. BDO has the edge in branch network for family members coordinating in the Philippines.
Best for Self-Employed: RCBC or Security Bank
RCBC and Security Bank tend to have more flexibility around income documentation for self-employed borrowers and business owners. They accept a wider range of proof-of-income documents compared to stricter lenders like BDO.
Best for Speed: BPI or EastWest Bank
BPI has invested heavily in digital processing and consistently reports faster approval timelines. EastWest Bank also markets itself on fast turnaround for home loan applications.
Best for Large Loans (₱7M+): BDO or Metrobank
For very large loan amounts, BDO and Metrobank have the capital and appraisal infrastructure to handle premium properties. They're also more experienced with high-value property types like townhouses and condominiums in Metro Manila.
Best for Refinancing: Nook (Multiple Banks)
If you already have an existing home loan, the best move is not to pick a single bank — it's to let Nook compare multiple banks simultaneously and match you to whoever gives you the best refinancing rate. The current best available rate is 5.99% p.a.
Understanding Home Loan Interest Rate Structures in the Philippines
Philippine home loans are not fixed for the entire term like in some other countries. Instead, banks offer a fixed rate for an initial period (typically 1, 2, 3, 5, or 10 years), after which the rate reprices based on prevailing market conditions.
What Happens After the Fixed Period Ends?
After your fixed period expires, your bank will reprice your loan — usually to a higher rate. This is one of the most common reasons Filipino homeowners end up overpaying: they signed up for a competitive introductory rate but never refinanced when it repriced.
The smart move: Before your fixed period ends (ideally 3–6 months before), compare what other banks are offering. If another lender — or a refinancing deal through Nook — can offer you a lower rate, you can switch before your bank increases your payments.
Fixed vs. Variable: Which Should You Choose?
| Factor | Short Fixed Period (1–3 years) | Longer Fixed Period (5–10 years) |
|---|---|---|
| Initial Rate | Usually lower | Usually higher |
| Payment Certainty | Low (reprices sooner) | High (locked in longer) |
| Best When | Rates expected to fall | Rates expected to rise or stay high |
| Flexibility to Refinance | More frequent opportunities | Less frequent, but more predictable |
How Nook Compares Banks for You — For Free
Nook is the Philippines' first digital mortgage broker. Instead of applying to one bank and hoping for the best, Nook submits your profile to multiple lenders at once and presents you with the best offer available for your situation.
Submit your loan details
Tell us about your property, loan amount, and current home loan (if refinancing). Takes about 5 minutes.
Nook matches you to lenders
We compare rates from BDO, BPI, Security Bank, RCBC, and other partner banks to find the best match for your profile.
You receive your best offer
We present you with the best available rate — currently as low as 5.99% p.a. — with full transparency on terms and fees.
We handle the paperwork
From document collection to bank submission, Nook guides you through every step. You pay nothing for this service.
For borrowers evaluating specific bank pairings, we also publish detailed comparisons like our UnionBank vs BPI home loan rates comparison to help you understand what each lender offers.
Home Loan Requirements: What Philippine Banks Typically Ask For
While each bank has slightly different requirements, most major lenders ask for the following:
| Document | Salaried | Self-Employed | OFW |
|---|---|---|---|
| Valid government-issued ID | ✓ | ✓ | ✓ |
| Proof of income (payslips / ITR) | ✓ | ✓ (ITR + audited FS) | ✓ (employment contract) |
| Certificate of Employment | ✓ | — | ✓ |
| Business registration documents | — | ✓ | — |
| Property documents (TCT, tax dec) | ✓ | ✓ | ✓ |
| Bank statements (3–6 months) | ✓ | ✓ | ✓ |
| Special Power of Attorney | — | — | ✓ |
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which Philippine bank has the lowest home loan interest rate in 2026?
Among major banks, Pag-IBIG (HDMF) and Security Bank tend to offer the most competitive rates — with Pag-IBIG starting at around 6.50% p.a. for qualified members and Security Bank at approximately 6.75% p.a. for private bank borrowers. However, through Nook's refinancing program, qualified homeowners can access rates as low as 5.99% p.a. — lower than any single bank's published rate. The best rate for you depends on your loan amount, property type, and borrower profile.
What is the current best home loan refinancing rate in the Philippines?
The best home loan refinancing rate currently available through Nook is 5.99% p.a. This is significantly lower than the 7% to 10% that most Filipino homeowners are currently paying on their existing home loans. Nook's service is 100% free to borrowers — the bank pays the broker fee.
Is BDO or BPI better for a home loan in the Philippines?
Both BDO and BPI are strong choices, but the better option depends on your needs. BPI generally offers slightly lower rates and faster processing, while BDO has a larger branch network and more flexibility for OFW borrowers with very large loan amounts. For most salaried employees, BPI is a common recommendation. For OFWs or larger loan amounts, BDO is worth considering. That said, neither may be the absolute best deal available — which is why comparing multiple banks through a broker like Nook gives you the best chance of finding your optimal rate.
How do Philippine home loan interest rates work?
Philippine home loans use a re-pricing model. Banks offer a fixed interest rate for an initial period — commonly 1, 2, 3, or 5 years — after which the rate is adjusted based on prevailing market conditions. This means your monthly payment can increase after the fixed period ends. Many homeowners find themselves paying much more than expected because they never refinanced when their rate repriced. The smart move is to review your rate at least 3 to 6 months before your fixing period expires and compare offers from other lenders.
Can I refinance my home loan to get a lower rate?
Yes. Refinancing is when you transfer your existing home loan to a new lender — or renegotiate with your current bank — to get a lower interest rate and reduce your monthly payments. If you are currently paying 8% or higher, refinancing to 5.99% p.a. could save you thousands of pesos per month and potentially over 1,000,000 pesos over the remaining life of your loan. Nook specializes in helping Filipino homeowners refinance, and the entire service is free to you as the borrower.
How much can I borrow for a home loan in the Philippines?
Most Philippine banks will lend up to 80% of the appraised value of the property. Minimum loan amounts typically start at 300,000 (BPI) to 500,000 (BDO, Metrobank). There is generally no hard maximum, though very large loans (above 10,000,000) may require additional documentation and have stricter qualification criteria. Loan terms typically range from 5 to 25 years depending on the bank and borrower age at loan maturity.
Does Nook charge a fee to compare home loan rates?
No. Nook's mortgage brokering service is completely free to Filipino homeowners and borrowers. Nook is compensated by the bank when a loan is successfully arranged. You get access to multiple lenders, professional guidance, and the best available rate — at zero cost to you.
Can OFWs apply for a home loan in the Philippines?
Yes. Most major Philippine banks including BDO, BPI, PNB, and Metrobank have home loan programs specifically for OFWs. Requirements typically include a valid employment contract, proof of remittance or income, a Special Power of Attorney for a local representative, and standard property documents. PNB and BDO tend to have the most OFW-friendly processes given their large presence in overseas markets. Nook can also help OFWs navigate the application process remotely.
What is the difference between Pag-IBIG and a bank home loan?
Pag-IBIG (HDMF) home loans are government-backed and available only to active Pag-IBIG fund members. They typically offer lower interest rates (starting at 6.50% p.a.) but come with property value caps and loan ceiling limits. Bank home loans have no membership requirement but generally carry higher rates (7% to 10% p.a. for most lenders). For properties within Pag-IBIG's eligible range and for members with sufficient contributions, Pag-IBIG is often the better deal. For higher-value properties or more flexibility, a private bank or Nook's refinancing program may offer a better outcome.