Home Loan Interest Rates: All Major Philippine Banks (2026)
If you took out a home loan more than two years ago, there's a strong chance you're paying more than you need to. Most Filipino homeowners are locked into rates between 7% and 10% p.a. — but refinancing to a competitive 2026 rate could cut your monthly payment significantly and save you millions over the life of your loan.
Below is a comprehensive comparison of advertised home loan interest rates from every major Philippine bank. Note that actual rates offered to individual borrowers may vary based on loan amount, loan-to-value ratio, loan term, and creditworthiness. All rates are indicative as of 2026.
2026 Home Loan Interest Rate Comparison Table
| Bank | 1-Year Fixed | 3-Year Fixed | 5-Year Fixed | Min. Loan Amount | Notable Feature |
|---|---|---|---|---|---|
| Nook (Best Rate) | 5.99% | 5.99% | 5.99% | 500,000 | Free broker service, compares all banks |
| BDO | 6.50% | 7.00% | 7.25% | 1,000,000 | Largest branch network in PH |
| BPI | 6.25% | 6.75% | 7.00% | 800,000 | Strong digital banking experience |
| Metrobank | 6.50% | 7.00% | 7.25% | 500,000 | Competitive for large loan amounts |
| Security Bank | 6.75% | 7.25% | 7.50% | 1,000,000 | Flexible repricing options |
| RCBC | 6.50% | 7.00% | 7.50% | 1,000,000 | Good for OFW borrowers |
| UnionBank | 6.75% | 7.25% | 7.75% | 1,000,000 | Full digital application |
| PNB | 7.00% | 7.50% | 8.00% | 500,000 | Government-affiliated, wide reach |
| Chinabank | 7.00% | 7.50% | 8.00% | 500,000 | Competitive for mid-range loans |
| EastWest Bank | 7.25% | 7.75% | 8.25% | 1,000,000 | Fast approval processing |
| PSBank | 7.25% | 7.75% | 8.25% | 500,000 | Part of Metrobank Group |
| Robinsons Bank | 7.50% | 8.00% | 8.50% | 500,000 | Linked to Robinsons properties |
| UCPB | 7.50% | 8.00% | 8.50% | 500,000 | Now merged with LandBank |
| LandBank | 7.00% | 7.50% | 8.00% | 300,000 | Strong in rural and socialized housing |
| Pag-IBIG (HDMF) | 6.375% | 6.375% | 6.375% | 100,000 | Government fund, fixed low rates |
*Rates are indicative and subject to change. Individual offers may differ. Pag-IBIG rates apply to members and are subject to fund availability and eligibility. Contact Nook for your personalized rate.
How Much Could You Save by Refinancing?
To understand the real impact of interest rates, consider a concrete example. If you have a home loan of 3,000,000 with 20 years remaining:
At 8.50% (older loan)
Monthly Payment: 26,035
Total Interest Paid: 3,248,400
At 5.99% (via Nook)
Monthly Payment: 21,488
Total Interest Paid: 2,157,120
Your Total Savings
Monthly Savings: 4,547
Total Savings: 1,091,280
That's over 1,000,000 pesos in total interest savings — simply by refinancing to a lower rate. Even borrowers who refinance from 7.5% to 5.99% on a 3,000,000 loan save approximately 54,000 per year.
BDO vs BPI: The Two Biggest Banks Head-to-Head
BDO and BPI are the two largest private banks in the Philippines and the most common home loan providers. Many Filipinos default to one of these two when applying for a mortgage — but their rates and service models differ in important ways. For a full breakdown, see our detailed BDO vs BPI housing loan comparison.
BDO Home Loan
- 1-year fixed rate: ~6.50% p.a.
- 5-year fixed rate: ~7.25% p.a.
- Minimum loan: 1,000,000
- Strengths: Largest network, strong for existing BDO account holders, widely available across all regions
- Considerations: Rates tend to be slightly higher than BPI; processing can be slower
BPI Home Loan
- 1-year fixed rate: ~6.25% p.a.
- 5-year fixed rate: ~7.00% p.a.
- Minimum loan: 800,000
- Strengths: Generally lower rates than BDO, strong digital banking, faster processing
- Considerations: Stricter income documentation requirements; not always best for self-employed borrowers
BPI typically edges out BDO on published rates, but neither bank consistently offers the best deal available in the market. For a broader view, our BPI vs Metrobank comparison shows how even small rate differences compound into large savings over a 20-year term.
Pag-IBIG vs Commercial Banks: Which Is Better?
Pag-IBIG (HDMF) deserves special mention because it operates differently from commercial banks. Its rates are set by government policy and have historically been among the lowest available — but there are important trade-offs:
Pag-IBIG Advantages
- Fixed rates starting at 6.375% for up to 30 years
- Accessible to salaried, self-employed, and OFW members
- Lower minimum loan amounts (from 100,000)
- More flexible on property types including socialized housing
Pag-IBIG Considerations
- Maximum loan amount of 6,000,000 (as of 2026)
- Requires active Pag-IBIG membership and monthly contributions
- Processing times can be longer than private banks
- Less flexibility for large loan amounts or high-value properties
For loans under 6,000,000, Pag-IBIG is worth including in your comparison. For larger loans or refinancing scenarios, commercial bank rates via Nook — starting at 5.99% — may actually beat Pag-IBIG on both rate and speed.
Which Bank Is Best for Refinancing?
Refinancing is not the same as applying for a new home loan. When you refinance, banks evaluate your current outstanding balance, your property's appraised value, your updated income documents, and your credit history. Different banks have different appetites for refinancing clients.
Here's how the major banks stack up specifically for refinancing:
- BPI: One of the most competitive for refinancing. Accepts clean credit histories and has a streamlined process for existing bank customers.
- BDO: Good for large loan amounts. More competitive if you already bank with BDO and have a strong relationship.
- Security Bank: Known for flexibility in repricing and refinancing structures. Good for borrowers with unusual income profiles.
- RCBC: Competitive for OFW borrowers and dual-income households. Also good for refinancing investment properties.
- Metrobank: Strong for high-value properties above 5,000,000. Competitive rates for borrowers with large outstanding balances.
- UnionBank: Fully digital application process is convenient, but rates tend to be slightly higher than BPI or BDO. Compare our UnionBank vs BPI analysis for details.
The challenge is that you'd need to apply to each bank individually to get a real quote — a process that takes weeks and can affect your credit score. Nook solves this by submitting a single application and presenting you with competing offers from multiple lenders simultaneously.
What Drives Home Loan Interest Rates in the Philippines?
Understanding what affects your rate helps you negotiate better and time your refinancing decision wisely.
BSP Policy Rate
The Bangko Sentral ng Pilipinas (BSP) sets the benchmark overnight rate, which directly influences what banks charge for long-term loans. When BSP cuts rates, home loan rates typically follow within 3-6 months.
Loan-to-Value (LTV) Ratio
If your outstanding loan is less than 70% of your property's current value, you're in a stronger negotiating position. Lower LTV means lower risk for the bank — and often a lower rate for you.
Loan Amount
Larger loans (above 3,000,000) often attract more competitive rates because the bank earns more absolute interest income. If your outstanding balance is relatively small, you may get fewer concessions.
Fixed Rate Period
Shorter fixed periods (1-year) typically offer lower initial rates but expose you to repricing risk. Longer fixed periods (5-year, 10-year) offer stability but at a premium. In a declining rate environment, shorter fixes can be advantageous.
Credit History
Borrowers with clean payment records — no missed payments for at least 24 months — qualify for the best rates. Even one or two late payments can push your offered rate up by 0.5% to 1%.
Employment Type
Salaried employees typically get the best rates. Self-employed borrowers and OFWs may face slightly higher rates or stricter documentation requirements, though specialist lenders like RCBC are more accommodating.
How Nook Gets You a Rate No Single Bank Can Match
When you apply to a single bank, you're at the mercy of that bank's current pricing and risk appetite. Nook works differently:
- You submit one application — Nook collects your loan details, property information, and documents once.
- Nook approaches multiple lenders — Your profile is presented to all compatible banks simultaneously, creating competition for your business.
- Banks compete for you — Instead of you begging one bank for a lower rate, multiple banks are motivated to offer their best terms.
- You choose the best offer — Nook presents all offers clearly, with no pressure and no bias toward any particular bank.
- 100% free to you — Nook is compensated by the bank you choose, not by you. There are no broker fees, application fees, or hidden charges.
This process consistently delivers rates that individual borrowers cannot negotiate on their own — including the 5.99% p.a. rate currently available through Nook's lender network.
When Should You Refinance?
The general rule of thumb in the Philippine market: if you can reduce your interest rate by 1.5 percentage points or more, refinancing is almost always worth it — provided you plan to stay in the property for at least 3-5 more years to recoup the one-time costs (documentary stamps, transfer fees, and bank processing fees).
You should seriously consider refinancing if:
- Your current rate is 7.5% or higher
- You have more than 10 years remaining on your loan
- Your outstanding balance is at least 1,500,000
- You haven't repriced or refinanced in the last 3+ years
- Your property value has increased since you took the loan
- Your income and credit profile have improved since origination
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
What is the lowest home loan interest rate in the Philippines in 2026?
The lowest home loan refinancing rate currently available through Nook is 5.99% per annum. Among individual banks, BPI and Pag-IBIG (HDMF) tend to offer the most competitive published rates, with BPI starting around 6.25% for a 1-year fixed period and Pag-IBIG offering fixed rates from 6.375%. However, rates depend on your loan amount, term, property value, and credit profile. The best way to find your lowest rate is to let Nook compare all lenders simultaneously using your actual details.
Which Philippine bank has the best home loan interest rate?
No single bank consistently offers the best rate for all borrowers. BPI tends to have slightly lower published rates than BDO or Metrobank. Security Bank and RCBC are competitive for specific borrower profiles, such as OFWs or self-employed applicants. Pag-IBIG offers very low government rates but has a maximum loan cap of 6,000,000. Rather than picking one bank and hoping for the best, using Nook to compare all banks simultaneously ensures you get the most competitive offer available for your specific situation.
How do BDO and BPI home loan rates compare?
BPI generally offers slightly lower rates than BDO. BPI's published 1-year fixed rate is around 6.25% p.a., while BDO's is approximately 6.50% p.a. For a 5-year fixed period, BPI is around 7.00% and BDO around 7.25%. However, actual offers depend on your individual profile, and BDO may be more competitive for existing account holders or borrowers in regions with a stronger BDO presence. For a detailed comparison, see our BDO vs BPI housing loan analysis.
Is Pag-IBIG or a bank better for a home loan in the Philippines?
It depends on your situation. Pag-IBIG is excellent for loans under 6,000,000, especially for salaried employees and OFWs who are active members. Its fixed rates starting at 6.375% are hard to beat, and it accepts lower-value properties. However, if you need a larger loan, want faster processing, or your property doesn't meet Pag-IBIG's collateral requirements, a commercial bank or Nook's network may offer better options — including rates as low as 5.99% p.a. Always compare both before deciding.
What is a good interest rate for a home loan in the Philippines?
In 2026, a good home loan interest rate in the Philippines is anything below 7% p.a. An excellent rate is below 6.5% p.a. The best rates currently available through Nook start at 5.99% p.a. If you are paying 8% or more on your current home loan, you are significantly above market and should consider refinancing. Most Filipino homeowners who refinanced in the past two years reduced their rates by 1.5% to 3%, saving tens of thousands of pesos annually.
How much can I save by refinancing my home loan in the Philippines?
Savings depend on your outstanding loan balance, remaining term, and the rate reduction you achieve. As an example, refinancing a 3,000,000 loan with 20 years remaining from 8.50% to 5.99% reduces your monthly payment by approximately 4,547 pesos and saves over 1,000,000 pesos in total interest. Even a smaller reduction — from 7.50% to 5.99% on the same loan — saves around 54,000 pesos per year. Use Nook's free calculator or speak to a Nook advisor to get a savings estimate based on your actual loan details.
What are the typical fees when refinancing a home loan in the Philippines?
Refinancing involves one-time costs that vary by bank and loan size. Common fees include: documentary stamp tax (typically 0.375% of the loan amount), mortgage registration and notarial fees, bank processing or appraisal fees (usually 3,000 to 10,000 pesos), and in some cases a penalty from your current bank if you exit before the end of your fixed-rate period. Despite these costs, borrowers with loans of 1,500,000 or more and rates above 7.5% typically recover refinancing costs within 12 to 18 months through lower monthly payments. Nook's service itself is completely free — Nook is paid by the bank, not by you.
Can I refinance my home loan even if it's with Pag-IBIG?
Yes. If your home loan is currently with Pag-IBIG, you can refinance to a commercial bank if a lower rate is available and your property and income qualifications meet the bank's requirements. This is sometimes called a take-out loan. The process involves paying off your Pag-IBIG balance using proceeds from the new bank loan. Nook can help you evaluate whether moving from Pag-IBIG to a commercial bank makes financial sense for your situation — and find the best rate if it does.
How long does it take to refinance a home loan with a Philippine bank?
Refinancing typically takes between 4 to 12 weeks from application to loan release, depending on the bank and the completeness of your documents. BPI and Security Bank are generally faster, while government-linked banks like Pag-IBIG and LandBank may take longer. Working through Nook can speed up the process because Nook manages document collection, lender coordination, and follow-ups on your behalf — reducing the typical back-and-forth delays that add weeks to a direct bank application.
Does applying through Nook affect my credit score?
Nook is designed to minimise impact on your credit profile. Rather than submitting multiple hard inquiries across banks simultaneously, Nook pre-screens your application before submitting to specific lenders — and only submits when you have decided to proceed with a formal application. A single formal application generates one credit inquiry, which has minimal effect on your credit score. Nook will discuss this process with you transparently before any application is submitted.