Home Loan Philippines Interest Rate 2026: All Banks Side-by-Side

Home Loan Interest Rates in the Philippines: 2026 Bank-by-Bank Comparison

If you took out a home loan in the Philippines in the last five to ten years, there is a very good chance you are paying more than you need to. Interest rates across Philippine banks vary significantly — and the gap between the best and worst rates on the market can cost a homeowner hundreds of thousands of pesos over the life of a loan.

This guide breaks down the current home loan interest rate landscape across all major Philippine banks, explains how fixed and variable rates work, and shows you exactly how to find — and lock in — the lowest possible rate for your situation.

How Philippine Home Loan Interest Rates Are Structured

Before comparing numbers, it helps to understand how banks in the Philippines structure their home loan rates. Almost all Philippine banks offer a fixed-rate period followed by a repricing cycle. This means your rate is locked for an initial term — typically 1, 2, 3, 5, or 10 years — and then resets based on prevailing market rates.

The shorter the fixed period, the lower the advertised rate. A 1-year fixed rate will almost always be lower than a 5-year fixed rate from the same bank. However, shorter fixed periods expose you to more frequent repricing risk, meaning your monthly payment can jump significantly when the rate resets.

There are three broad categories of home loan borrowers in the Philippines:

• New purchase borrowers — buying a property for the first time or upgrading
• Refinancers — moving an existing loan from one bank to another to get a lower rate
• Equity takeout borrowers — borrowing against an existing property's equity for other purposes

Interest rates can differ across these categories, with refinancers and new purchase borrowers generally getting the most competitive offers.

2026 Home Loan Interest Rates: Major Philippine Banks Side-by-Side

The table below reflects indicative home loan rates being offered by major Philippine banks in 2026. These are general market rates for a typical borrower with good credit history. Your actual rate may differ depending on your loan amount, loan-to-value ratio, and creditworthiness.

BDO (Banco de Oro)

BDO is the largest bank in the Philippines and one of the most active home loan lenders. Their rates typically range from 6.50% to 8.25% per annum depending on the fixed period. BDO offers fixed terms of 1, 2, 3, 5, 10, 15, and 20 years, with their shortest fixed periods being the most competitive. BDO is also known for relatively fast processing and wide branch availability.

BPI (Bank of the Philippine Islands)

BPI is consistently one of the top two most competitive banks for home loans. Their indicative rates in 2026 range from 6.25% to 8.00% per annum. BPI's 1-year fixed rate is often the lowest among the major private banks, making it attractive for borrowers confident in their ability to manage a repricing event.

Metrobank

Metrobank offers competitive rates that typically sit between 6.75% and 8.50% per annum. They are particularly active in the mid-to-high loan amount range (above 3,000,000) and offer flexible terms. Metrobank is well regarded for its relationship banking approach, which can sometimes yield better rates for existing customers.

Security Bank

Security Bank has positioned itself aggressively in the home loan market and frequently advertises some of the lowest headline rates. Their 2026 range is approximately 6.25% to 7.75% per annum. Security Bank also offers a standout feature: a fixed-rate option for up to 20 years, which is rare in the Philippine market and highly valuable for borrowers who prioritize payment stability.

RCBC (Rizal Commercial Banking Corporation)

RCBC offers rates from approximately 6.50% to 8.00% per annum. They are a solid option particularly for OFW borrowers and those with non-traditional income documentation. RCBC has invested in streamlining its loan processing and is increasingly competitive on rate.

UnionBank

UnionBank's home loan rates generally range from 7.00% to 8.50% per annum. They stand out for their digital-first approach to processing and their integration with their banking app, which many borrowers find convenient for ongoing loan management.

PNB (Philippine National Bank)

PNB offers rates in the range of 6.75% to 8.25% per annum. As a government-affiliated bank, PNB is a popular choice for government employees and military and police personnel, who may qualify for preferential rates.

Chinabank (China Banking Corporation)

Chinabank's home loan rates are competitive, typically ranging from 7.00% to 8.75% per annum. They are a preferred lender among Filipino-Chinese borrowers and are particularly active in the Visayas and Mindanao regions.

EastWest Bank

EastWest offers home loans at approximately 7.25% to 9.00% per annum. While their rates are slightly above average, they are known for accommodating borrowers who have difficulty meeting the stricter documentary requirements of larger banks.

PSBank (Philippine Savings Bank)

PSBank, the thrift banking arm of Metrobank Group, offers home loan rates in the range of 7.00% to 8.50% per annum. A popular choice for borrowers who prefer a savings bank environment with Metrobank-level backing.

Pag-IBIG (HDMF)

Pag-IBIG (Home Development Mutual Fund) offers home loans at rates starting from 5.75% per annum for loans up to 750,000. For larger loan amounts (up to 6,000,000), rates are tiered, generally ranging from 6.50% to 10.00% depending on the fixed period chosen. Pag-IBIG loans are available only to active Pag-IBIG Fund members and have strict eligibility requirements, but they are often the most affordable option for qualifying borrowers.

Landbank

Landbank, as a government bank, offers competitive rates from approximately 6.50% to 8.00% per annum. They are particularly focused on socialized and economic housing, and their rates may vary significantly based on the housing program being availed.

What a Rate Difference Actually Costs You

The difference between a 7.50% rate and a 6.00% rate may sound small, but the compounding effect over a 20-year loan term is enormous. Consider a homeowner with a 4,000,000 outstanding loan balance and 20 years remaining:

• At 7.50% p.a., the monthly payment is approximately 32,225 — total interest paid over 20 years: about 3,734,000
• At 6.00% p.a., the monthly payment is approximately 28,657 — total interest paid over 20 years: about 2,877,680
• Difference: over 856,000 in total interest savings

That is the kind of number that should prompt every homeowner to check their current rate. If you want to run these numbers for your own loan, our home loan refinance calculator lets you model your exact situation in minutes.

The Gap Between the Best Rate and Your Rate

Most Filipino homeowners are paying between 7% and 10% on their home loan. The best refinance rate currently available through Nook is 5.99% per annum. For a borrower with a 3,500,000 loan balance, a 2% rate reduction translates to roughly 4,500 less in monthly payments and over 1,000,000 in savings over the remaining loan term.

The gap is most significant for borrowers who:

• Took out their loan more than 3 years ago and have never repriced or refinanced
• Were placed on their bank's default variable rate after their initial fixed period expired
• Accepted the first rate they were offered without shopping around
• Have a loan with a smaller or less competitive bank

Fixed vs. Variable Rates: Which Is Right for You?

Filipino homeowners often face a genuine dilemma when choosing between fixed and variable rates. Here is the practical breakdown:

Choose a longer fixed period if:

• You value payment certainty and budgeting stability
• You believe interest rates will rise in the medium term
• You are on a fixed income or have a tight debt-service ratio
• You plan to keep the property for the long term

Choose a shorter fixed period if:

• You expect to sell or refinance within 2-3 years
• You are confident rates will stay flat or fall
• You want the lowest possible starting payment to maximize cash flow

For most homeowners who plan to stay in their property long-term, a 3- to 5-year fixed period strikes the best balance between rate competitiveness and stability.

What It Takes to Qualify for the Best Home Loan Rates

Not every borrower will be offered the headline rate. Banks price their best rates for borrowers who present the lowest credit risk. The factors that most influence the rate you are offered include:

• Loan-to-Value (LTV) ratio — borrowers with at least 20-30% equity generally get better rates
• Income stability and documentation — employed borrowers with 2+ years tenure at the same employer are favored; self-employed borrowers need at least 2 years of audited financials
• Credit history — a clean record with your current lender and with the Credit Information Corporation (CIC) is essential
• Loan amount — larger loans (above 2,000,000) often attract more competitive rates as the bank earns more absolute interest income
• Existing bank relationship — having a payroll account, savings, or investment with the bank can sometimes result in a rate discount

Why Shopping Around Is So Important — and So Underused

A 2024 industry survey found that the majority of Filipino home loan borrowers accepted the first rate offered to them — often from the same bank that holds their payroll account. This is one of the most expensive financial habits a homeowner can have.

The rate difference between the highest and lowest competing bank offers for the same borrower profile can be as wide as 1.50% to 2.00%. On a 5,000,000 loan over 20 years, that single decision could cost or save more than 1,200,000.

This is exactly why mortgage brokers exist. Nook compares rates across all major Philippine banks simultaneously and presents you with the best available offer — at no cost to you, because the chosen bank pays Nook's fee. You get professional negotiation and expert guidance without paying a single peso in broker fees. To understand what you could potentially save before you start the process, take a look at our article on whether you're overpaying on your home loan.

How to Refinance to a Lower Rate in the Philippines

If you already have an existing home loan and your rate is above 7%, refinancing is almost certainly worth exploring. The basic process works like this:

• Step 1: Determine your current outstanding balance, remaining term, and interest rate
• Step 2: Compare the best available rates in the market — or let Nook do this for you
• Step 3: Calculate your monthly savings and the break-even point on any refinancing costs (typically 6-18 months)
• Step 4: Apply to your chosen new lender with the required documents
• Step 5: Once approved, the new bank pays off your existing loan and you begin repaying them at the lower rate

Refinancing costs in the Philippines typically include appraisal fees, documentary stamp tax, and registration fees — usually totaling 30,000 to 80,000 depending on the loan amount. These costs are almost always recovered within the first year or two of lower payments.

The Bottom Line

The Philippine home loan market in 2026 is more competitive than it has ever been, and the gap between the best available rates and what most homeowners are currently paying is substantial. Whether you are buying a new property or looking to reduce the cost of your existing loan, taking the time to compare rates across multiple banks is one of the highest-return financial actions you can take.

Nook makes that comparison free, fast, and professional — connecting you with the lowest available rate from all major Philippine banks without charging you a single peso.