Home Loan Interest Rates in the Philippines: 2026 Bank-by-Bank Comparison
If you have a home loan in the Philippines, your interest rate is probably the single biggest factor in how much you pay each month — and over the life of your loan. Yet most Filipino homeowners have never compared their rate against what other banks are currently offering. This guide breaks down 2026 home loan interest rates from all major Philippine banks, explains how rates work, and shows you how to find out whether you're overpaying.
How Philippine Home Loan Interest Rates Work
Before comparing numbers, it helps to understand the mechanics. Philippine home loans are not fixed for the entire loan term. Instead, banks offer a fixed rate for an initial period — typically 1, 2, 3, 5, or 10 years — after which the rate re-prices based on prevailing market conditions. This means the attractive rate you locked in when you bought your home may have already expired, and you could now be on a much higher repriced rate without realizing it.
There are three common rate structures you'll encounter:
- Short fixed periods (1–2 years): Banks advertise these as their lowest headline rates, sometimes starting around 6.5%–7.5% p.a. But after the fixed period, you're exposed to market repricing.
- Medium fixed periods (3–5 years): A popular balance between certainty and cost. Rates typically range from 7% to 9% p.a. in 2026 depending on the bank and loan amount.
- Long fixed periods (10 years): Provides the most payment certainty. Rates are higher, often 9%–11% p.a., but you're protected from rising rates for a decade.
The key takeaway: the rate on your mortgage statement today may be very different from the rate you originally agreed to — and very different from what you could get if you refinanced now.
2026 Home Loan Interest Rate Comparison: Major Philippine Banks
The table below reflects indicative 2026 rates for new home loan applications and refinancing. Actual rates vary based on loan amount, loan-to-value ratio, property type, and borrower profile. Always confirm directly with the bank or through a broker like Nook.
BDO Home Loan Rates
BDO is the largest bank in the Philippines by assets and one of the most active home lenders. Their 2026 indicative rates run approximately 7.25%–7.75% p.a. for a 1-year fix, rising to around 8.5%–9.25% p.a. for a 5-year fix. BDO is known for competitive processing and a wide branch network, making them a common first stop for borrowers.
BPI Home Loan Rates
Bank of the Philippine Islands offers some of the most competitive rates in the market. For 2026, BPI's indicative fixed rates start at around 6.75%–7.25% p.a. for a 1-year fix and approximately 8.0%–8.75% p.a. for a 5-year fix. BPI's online application process is among the most streamlined of the major banks.
Metrobank Home Loan Rates
Metrobank positions itself as a premium lender with strong service standards. Indicative 2026 rates are approximately 7.5%–8.0% p.a. for a 1-year fix and 8.75%–9.5% p.a. for a 5-year fix. Metrobank is often preferred by borrowers purchasing higher-value properties in key urban areas.
Security Bank Home Loan Rates
Security Bank has become increasingly competitive in the mortgage space. Their 2026 indicative rates are around 7.0%–7.5% p.a. for a 1-year fix and 8.25%–9.0% p.a. for a 5-year fix. They are worth considering especially for mid-range loan amounts between 2,000,000 and 6,000,000.
PNB Home Loan Rates
Philippine National Bank offers government-backed lending credibility along with competitive pricing. Indicative 2026 rates start at around 7.25%–7.75% p.a. for short fixed periods. PNB is a strong option for OFWs and government employees seeking mortgage financing.
RCBC Home Loan Rates
Rizal Commercial Banking Corporation offers 2026 indicative rates in the range of 7.0%–7.5% p.a. for a 1-year fix. RCBC is particularly active in the refinancing space and can be a good option for borrowers looking to move away from a higher-rate lender.
UnionBank Home Loan Rates
UnionBank is one of the most digitally advanced Philippine banks. Their 2026 home loan rates are indicatively around 7.25%–8.0% p.a. for a 1-year fix. Their digital-first approach means faster processing timelines compared to traditional banks.
Chinabank Home Loan Rates
China Banking Corporation offers competitive rates, particularly for existing Chinabank customers. 2026 indicative rates run approximately 7.25%–8.0% p.a. across common fixed periods.
EastWest Bank Home Loan Rates
EastWest Bank's 2026 indicative rates are around 7.5%–8.25% p.a. They are known for being flexible with borrower documentation requirements, which can help self-employed applicants.
PSBank Home Loan Rates
PSBank (Philippine Savings Bank), a Metrobank subsidiary, offers a straightforward home loan product. Their 2026 indicative rates are approximately 7.5%–8.5% p.a. PSBank is a solid choice for borrowers who value simplicity.
Pag-IBIG (HDMF) Home Loan Rates
For eligible members, Pag-IBIG Fund offers some of the lowest home loan rates in the market — as low as 5.75% p.a. for loans up to 750,000 under their affordable housing program. For larger loan amounts (up to 6,000,000), rates typically range from 6.375% to 10% p.a. depending on the fixing period chosen. Pag-IBIG is often the best option for first-time homebuyers who qualify, though their processing timelines can be longer than commercial banks.
What the Rate Difference Actually Costs You
It's easy to look at a 1.5% or 2% rate difference and think it's not a big deal. The math tells a different story.
Consider a homeowner with a 3,500,000 loan balance and 20 years remaining on their loan. At 8.5% p.a., their monthly payment is approximately 30,400. At 5.99% p.a. — the best rate currently available through Nook — the same loan costs approximately 25,100 per month. That's a saving of roughly 5,300 every single month, or about 63,600 per year. Over the remaining loan term, the total interest savings exceed 1,200,000.
This is why understanding whether you're currently overpaying on your home loan is one of the most financially impactful things a Filipino homeowner can do in 2026.
Are You on a Repriced Rate Without Knowing It?
One of the most common situations Nook encounters is a homeowner who took out a loan 3–5 years ago at an attractive introductory rate, forgot when their fixing period ended, and is now on a much higher repriced rate — sometimes 9% or even 10% p.a. — without realizing it.
Here's how to check: look at your latest amortization statement or call your bank. Ask specifically: "What is my current interest rate, and when does my fixing period expire?" If your current rate is more than 1% higher than what's shown in the comparison table above, refinancing could save you a significant amount.
Use the Nook refinance calculator to get an instant estimate of how much you could save based on your actual loan balance and current rate.
How Nook Helps You Find the Lowest Rate
Nook is the Philippines' first digital mortgage broker. Rather than approaching each bank individually — filling out forms, gathering documents, waiting weeks for responses — Nook does the comparison work for you. You submit your details once, and Nook identifies which lenders are most likely to offer you the lowest rate based on your specific profile.
Critically, Nook's service is completely free for borrowers. Nook is compensated by the lending bank if your refinance completes, which means you get independent advice at no cost. The best rate currently available through Nook is 5.99% p.a.
What Determines the Rate You're Offered?
Banks don't offer the same rate to every borrower. The rate you qualify for depends on several factors:
- Loan-to-Value (LTV) ratio: The lower your loan amount relative to your property's appraised value, the less risk for the bank, and typically the better your rate.
- Loan amount: Larger loan amounts (above 5,000,000) sometimes attract more competitive rates as they generate more revenue for the bank.
- Income stability: Salaried employees at established companies typically qualify for better rates than self-employed borrowers, though this varies by bank.
- Credit history: A clean credit record with no missed payments strengthens your negotiating position.
- Existing relationship with the bank: Some banks offer preferential rates to existing depositors or customers with other products.
Should You Fix for 1, 3, or 5 Years?
This is one of the most common questions homeowners face. Here's a practical framework:
- Choose a 1-year fix if you plan to sell the property within 2 years, expect rates to fall, or are comfortable with some payment uncertainty.
- Choose a 3-year fix if you want a balance of certainty and competitive pricing. This is the most popular choice among Nook clients.
- Choose a 5-year fix if budget predictability is critical — for example, if your income is variable or you have other significant financial commitments.
- Choose a 10-year fix if you are highly risk-averse and want to lock in certainty for the long term, and are willing to pay a premium for that peace of mind.
The Bottom Line
Philippine home loan interest rates vary significantly across banks in 2026, and the gap between the highest and lowest rates can cost you hundreds of thousands of pesos over your loan's remaining term. Whether you're buying a new property or already have an existing mortgage, taking 15 minutes to compare your current rate against what's available could be one of the most valuable financial decisions you make this year.
If you're already a homeowner and haven't reviewed your rate in the last 2–3 years, the odds are high that you're paying more than you need to. Nook makes it simple to find out — and to act on it.