Home Loan Interest Rates Philippines 2026: All Major Banks at a Glance
The table below compares indicative fixed-period interest rates from the Philippines' major home loan providers as of 2026. Rates shown are for the initial fixed-rate period (typically 1–5 years). After the fixed period ends, most banks reprice your loan — which is when refinancing often makes the most financial sense.
| Bank | 1-Year Fixed | 2-Year Fixed | 3-Year Fixed | 5-Year Fixed | Min. Loan Amount |
|---|---|---|---|---|---|
| BDO | 7.00% | 7.25% | 7.50% | 7.75% | 1,000,000 |
| BPI | 6.88% | 7.00% | 7.25% | 7.50% | 800,000 |
| Metrobank | 7.00% | 7.25% | 7.50% | 7.88% | 1,000,000 |
| Security Bank | 6.75% | 7.00% | 7.25% | 7.50% | 1,000,000 |
| RCBC | 7.25% | 7.50% | 7.75% | 8.00% | 1,000,000 |
| UnionBank | 7.50% | 7.75% | 8.00% | 8.25% | 1,000,000 |
| PNB | 7.50% | 7.75% | 8.00% | 8.25% | 500,000 |
| Chinabank | 7.25% | 7.50% | 7.75% | 8.00% | 1,000,000 |
| EastWest Bank | 7.50% | 7.75% | 8.00% | 8.25% | 500,000 |
| PSBank | 7.75% | 8.00% | 8.25% | 8.50% | 500,000 |
| Robinsons Bank | 7.50% | 7.75% | 8.00% | 8.25% | 500,000 |
| Landbank | 6.50% | 6.75% | 7.00% | 7.50% | 300,000 |
| Pag-IBIG (HDMF) | 6.50% | N/A | 7.00% | 7.58% | — |
| Best Refinance Rate (via Nook) | 5.99% | — | — | — | 1,500,000 |
Note: Rates shown are indicative and subject to bank approval. Actual rates may vary based on loan amount, term, LTV ratio, and borrower profile. Always confirm current rates directly with your chosen lender or through Nook's free comparison service.
BDO vs BPI: The Two Biggest Banks Head to Head
BDO and BPI are the Philippines' two largest banks by assets, and they are the most common default choices for home loan borrowers. But bigger doesn't always mean cheaper.
BDO Home Loan
- 1-year fixed rate: 7.00% p.a.
- 5-year fixed rate: 7.75% p.a.
- Minimum loan: 1,000,000
- Maximum term: 25 years
- Best for: Existing BDO account holders, large loan amounts
- Processing fee: Approx. 5,000–10,000 (varies)
BDO offers broad branch access and is generally accommodating for borrowers who already bank with them. However, their posted rates are not the lowest in the market, and repricing after the fixed period can push your effective rate significantly higher.
BPI Home Loan
- 1-year fixed rate: 6.88% p.a.
- 5-year fixed rate: 7.50% p.a.
- Minimum loan: 800,000
- Maximum term: 20 years
- Best for: Borrowers seeking a reputable bank with competitive pricing
- Processing fee: Approx. 5,000–10,000 (varies)
BPI consistently offers rates slightly below BDO's posted rates and has a streamlined digital application process. For a deeper look at how BPI stacks up against another leading lender, see our BPI vs Metrobank home loan comparison.
What the BDO vs BPI Rate Difference Costs You
On a 3,000,000 peso loan over 20 years:
- BDO at 7.00%: Monthly payment ≈ 23,259 | Total interest ≈ 2,582,160
- BPI at 6.88%: Monthly payment ≈ 23,000 | Total interest ≈ 2,520,000
- Difference: Approximately 62,000 in total interest over the loan life
The gap looks modest between these two banks — but compared to the best refinance rate of 5.99% available through Nook, both banks cost you significantly more.
How Much Can You Save by Refinancing to 5.99%?
The real savings opportunity isn't choosing between BDO and BPI — it's moving away from any bank charging 7% or more. Here's what refinancing to 5.99% p.a. means for different loan balances on a 20-year term:
| Outstanding Balance | Monthly Payment at 8.50% | Monthly Payment at 5.99% | Monthly Savings | Total Savings over 20 Years |
|---|---|---|---|---|
| 1,500,000 | 13,029 | 10,746 | 2,283 | 547,920 |
| 2,500,000 | 21,715 | 17,910 | 3,805 | 913,200 |
| 3,000,000 | 26,058 | 21,492 | 4,566 | 1,095,840 |
| 5,000,000 | 43,430 | 35,820 | 7,610 | 1,826,400 |
| 8,000,000 | 69,488 | 57,312 | 12,176 | 2,922,240 |
These figures assume the full remaining term of 20 years. Even for shorter remaining terms of 10–15 years, the savings are substantial. Nook's free mortgage calculator can give you a personalised estimate based on your actual outstanding balance and current rate.
Security Bank, RCBC, UnionBank: The Mid-Tier Contenders
Beyond the two giants, several mid-tier banks compete aggressively on home loan pricing — and some offer rates that undercut both BDO and BPI.
Security Bank
Security Bank frequently posts the most competitive rates among private commercial banks, with 1-year fixed rates as low as 6.75% p.a. They are known for faster processing times and a more personalised service experience. Their minimum loan amount of 1,000,000 and maximum LTV of around 80% are standard for the market.
RCBC
RCBC's home loan rates tend to sit slightly above the market average among mid-tier banks, ranging from 7.25% for a 1-year fix. They have a wide branch network and accept a broad range of property types. For a comparison of RCBC against another mid-tier option, see our UnionBank vs RCBC home loan rates comparison.
UnionBank
UnionBank's home loan product is positioned at the higher end of the mid-tier range, with posted rates starting at 7.50% for a 1-year fix. Their digital-first platform makes the application process convenient, but borrowers who are rate-sensitive may find better value elsewhere.
Pag-IBIG and Landbank: Government-Backed Options
For qualifying borrowers, Pag-IBIG (HDMF) and Landbank offer some of the most competitive rates in the market — and both fall below most private commercial banks.
Pag-IBIG (HDMF) Home Loan
Pag-IBIG's home loan program is available to active fund members and offers rates starting at 6.50% for a 1-year fix and 7.58% for a 5-year fix. For socialized and economic housing, rates can go even lower. The program has income and property value caps, and loan amounts are capped at 6,000,000 for standard members. Processing can be slower than private banks, but the rates are hard to beat for eligible borrowers.
Landbank
Landbank offers home loan rates starting at 6.50% for a 1-year fix, making it one of the most competitively priced options among government-affiliated lenders. Their focus is primarily on government employees and socialized housing, but they also serve the broader market. Loan minimums start as low as 300,000, making them accessible for smaller property purchases.
What Happens When Your Fixed Period Ends?
One of the most important — and most overlooked — aspects of Philippine home loans is the repricing clause. After your initial fixed-rate period (1, 2, 3, or 5 years), your bank has the right to reprice your loan to a new interest rate, typically based on current market conditions plus a spread set by the bank.
In practice, this means:
- A borrower who locked in at 5.50% five years ago may now be repriced to 8.50% or higher
- Most borrowers don't realize they can refinance away from their current bank when this happens
- The window around repricing — typically 30–90 days before the new rate takes effect — is the best time to shop around
If your loan is about to be repriced, this is exactly when Nook can add the most value. Our brokers will compare offers from all major banks and secure the lowest available rate on your behalf — at no cost to you.
For a broader overview of how to approach the bank selection process strategically, see our guide on which bank to choose for a home loan in the Philippines in 2026.
How to Get the Lowest Home Loan Rate in the Philippines
Here are the factors that determine whether you'll qualify for the best rates:
1. Loan-to-Value (LTV) Ratio
Banks offer better rates when your loan represents a smaller percentage of the property's appraised value. An LTV of 70% or below typically unlocks the most competitive pricing. If you've been paying down your loan for several years, your LTV has likely improved significantly.
2. Loan Amount
Larger loan amounts generally attract better rates. Most banks reserve their headline rates for loans above 2,000,000 to 3,000,000 pesos.
3. Borrower Income Profile
Stable, verifiable income — whether employed or self-employed — is a key factor. Banks look at your debt-service ratio, which should ideally not exceed 40% of your gross monthly income.
4. Credit History
A clean credit record with no missed payments significantly improves your negotiating position. Banks also check for existing liabilities with other lenders.
5. Property Type and Location
Condominium units, townhouses, and house-and-lot properties in prime locations typically receive better terms. Rural or provincial properties may face higher rates or lower LTV limits.
Compare All Banks in Minutes — Free
Nook is the Philippines' first digital mortgage broker. We compare home loan offers from BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, and more — then negotiate on your behalf to get you the lowest rate available. Our service is completely free to borrowers. We are paid by the bank, not by you.
The best refinance rate currently available through Nook is 5.99% p.a. If you're paying more than that, you may be leaving a significant amount of money on the table every single month.
- No broker fees — ever
- One application, multiple bank offers
- Dedicated mortgage specialist assigned to your case
- End-to-end support from application to release of proceeds
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 lowest home loan interest rate in the Philippines in 2026?
The lowest home loan interest rate currently available in the Philippines is 5.99% p.a., accessible through Nook's free refinancing service. Among individual banks, Landbank and Pag-IBIG offer rates starting at 6.50% for qualifying borrowers, while Security Bank leads private commercial banks at around 6.75% for a 1-year fixed rate. Most borrowers with existing home loans are currently paying between 7% and 10%.
Which bank has the best home loan rate in the Philippines?
Among government-backed lenders, Pag-IBIG and Landbank offer the most competitive rates, starting at 6.50% p.a. Among private commercial banks, Security Bank and BPI tend to post the most competitive rates. However, the single best rate available — 5.99% p.a. — is accessible by refinancing through Nook, which negotiates across multiple lenders simultaneously on your behalf at no cost to you.
How do I compare home loan interest rates across Philippine banks?
You can compare rates by visiting each bank's website individually, calling their home loan hotlines, or visiting branches — but this is time-consuming and each bank will only show you their own rates. A faster and more effective method is to use Nook, the Philippines' first digital mortgage broker, which compares all major banks in one place and negotiates competitive rates on your behalf for free.
Is BDO or BPI better for a home loan?
BPI generally posts slightly lower rates than BDO — for example, 6.88% vs 7.00% for a 1-year fixed rate as of 2026. On a 3,000,000 peso loan over 20 years, this difference amounts to roughly 62,000 pesos in total interest savings. However, both banks are outpriced by the best refinance rates available through Nook (5.99% p.a.), so if you're purely optimizing for cost, comparing across all banks via a broker is the better approach.
Can I refinance my home loan to get a lower interest rate?
Yes. Refinancing means taking out a new home loan — either with your current bank or a new one — to replace your existing loan at a lower interest rate. In the Philippines, refinancing is most commonly done when your fixed-rate period is about to expire and your bank reprices your loan. Nook specializes in home loan refinancing and can help you secure a rate as low as 5.99% p.a. at no cost to you.
What is a fixed-rate period, and what happens when it ends?
A fixed-rate period is the initial period — typically 1, 2, 3, or 5 years — during which your home loan interest rate is locked in and will not change. After this period ends, your bank will reprice your loan based on current market rates plus their spread. This repriced rate is almost always higher than your original rate, which is why many borrowers choose to refinance to a new bank when repricing occurs.
How much can I save by refinancing my home loan in the Philippines?
The savings depend on your outstanding loan balance, remaining term, and the difference between your current rate and the new rate. As a concrete example: on a 3,000,000 peso loan with 20 years remaining, moving from 8.50% to 5.99% saves approximately 4,566 pesos per month — or over 1,095,840 pesos across the full loan term. Use Nook's free mortgage calculator to get a personalised savings estimate based on your specific situation.
Does Nook charge a fee to compare home loan rates?
No. Nook's service is completely free to borrowers. Nook is compensated directly by the bank when a loan is successfully processed, which means you get access to a full market comparison, professional negotiation, and end-to-end application support at zero cost to you. This is the same model used by mortgage brokers in Australia, the UK, and other mature home loan markets.
What documents do I need to refinance my home loan in the Philippines?
Typical document requirements for a home loan refinance in the Philippines include: a valid government-issued ID, Certificate of Employment and latest payslips (for employed borrowers) or ITR and financial statements (for self-employed), latest 3–6 months bank statements, a copy of your existing loan statement of account, the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), and the latest tax declaration and real property tax receipts. Nook will guide you through the exact requirements once you submit your initial application.
How long does it take to refinance a home loan in the Philippines?
The refinancing process in the Philippines typically takes 4 to 8 weeks from initial application to loan release, depending on the bank and the completeness of your documents. This includes document submission, credit evaluation, property appraisal, loan offer, and title transfer processing. Nook helps streamline this process by managing the paperwork and communication with the bank on your behalf.