Philippine Home Loan Bank Comparison 2026
Whether you're buying your first home or refinancing an existing loan, choosing the right bank can mean saving hundreds of thousands of pesos over the life of your mortgage. Below is a comprehensive comparison of the major banks offering home loans in the Philippines in 2026.
| Bank | Indicative Rate (1-yr fix) | Indicative Rate (3-yr fix) | Indicative Rate (5-yr fix) | Max Loan-to-Value | Min Loan Amount |
|---|---|---|---|---|---|
| BDO | 7.00% p.a. | 7.50% p.a. | 7.75% p.a. | 80% | 1,000,000 |
| BPI | 6.75% p.a. | 7.25% p.a. | 7.50% p.a. | 80% | 800,000 |
| Metrobank | 7.00% p.a. | 7.50% p.a. | 7.75% p.a. | 80% | 1,000,000 |
| Security Bank | 6.88% p.a. | 7.38% p.a. | 7.63% p.a. | 80% | 1,000,000 |
| RCBC | 7.25% p.a. | 7.75% p.a. | 8.00% p.a. | 80% | 1,000,000 |
| UnionBank | 7.50% p.a. | 8.00% p.a. | 8.25% p.a. | 75% | 1,000,000 |
| PNB | 7.50% p.a. | 8.00% p.a. | 8.25% p.a. | 80% | 500,000 |
| Chinabank | 7.25% p.a. | 7.75% p.a. | 8.00% p.a. | 80% | 1,000,000 |
| EastWest Bank | 7.50% p.a. | 8.00% p.a. | 8.25% p.a. | 80% | 1,000,000 |
| PSBank | 7.75% p.a. | 8.25% p.a. | 8.50% p.a. | 80% | 500,000 |
| Pag-IBIG (HDMF) | 6.50% p.a. | 7.00% p.a. | 8.00% p.a. | 90% | 200,000 |
| Best Refi via Nook | 5.99% p.a. | — | — | 80% | 1,000,000 |
Rates are indicative as of 2026 and subject to change. Actual rates depend on loan amount, term, property type, and borrower profile. The 5.99% p.a. refinance rate is available through Nook for qualified borrowers.
BDO Home Loan: Strengths and Weaknesses
BDO Unibank is the Philippines' largest bank by assets, and its home loan product reflects that scale — widespread branch network, strong brand recognition, and a streamlined application process for existing BDO account holders.
BDO Home Loan Highlights
- Loan amounts: 1,000,000 to 50,000,000
- Loan terms: Up to 20 years
- Fixed rate periods: 1, 2, 3, 5, 10, or 15 years
- Property types: House and lot, condominium, townhouse, vacant lot
- Appraisal fee: Charged upfront, typically 3,500 to 5,000
- Processing fee: 10,000 or 0.10% of loan amount (whichever is higher)
Who BDO Works Best For
BDO tends to be a strong choice for borrowers who already bank with BDO, as existing customers often experience faster processing times and may receive preferential treatment during credit evaluation. It's also well-suited for higher loan amounts given its generous maximum limits.
BDO Home Loan Limitations
BDO's headline rates are not always the lowest in the market, and its fees can add up quickly. If you're comparing purely on interest rate, BDO may not come out ahead against BPI or Security Bank for mid-range loan amounts.
BPI Home Loan: Strengths and Weaknesses
Bank of the Philippine Islands (BPI) is consistently regarded as one of the most competitive home loan lenders in the country. BPI regularly offers rates that are 25 to 50 basis points lower than the big-bank average, and its digital application process is one of the most polished in the industry.
BPI Home Loan Highlights
- Loan amounts: 800,000 to 50,000,000
- Loan terms: Up to 20 years
- Fixed rate periods: 1, 2, 3, 5, 10, 15, or 20 years
- Property types: House and lot, condominium, townhouse, vacant lot, home renovation
- Appraisal fee: Typically waived during promotional periods
- Processing fee: Varies; often waived for online applications
Who BPI Works Best For
BPI is often the top pick for salaried employees with clean credit history and a clear income trail. Its digital platform makes document submission easier, and its rate lock-in periods are among the most flexible available. For a deeper look at how BPI stacks up against another major lender, see our BPI vs Metrobank home loan comparison.
BPI Home Loan Limitations
BPI can be stricter on credit evaluation than some other banks, which means self-employed borrowers or those with irregular income may find the approval process more challenging. Additionally, BPI's approval timelines can stretch during peak periods.
Metrobank Home Loan: Strengths and Weaknesses
Metrobank is one of the Philippines' top three banks and offers a well-rounded home loan product with competitive rates for higher loan amounts. Metrobank is particularly active in financing condominium purchases in major urban centers.
Metrobank Home Loan Highlights
- Loan amounts: 1,000,000 to 50,000,000
- Loan terms: Up to 25 years
- Fixed rate periods: 1, 2, 3, 5, 10, 15, or 20 years
- Property types: House and lot, condominium, townhouse, vacant lot
- Processing fee: Typically 10,000 flat
Who Metrobank Works Best For
Metrobank is a solid option for buyers purchasing from developer partners — many major Philippine developers have preferred financing tie-ups with Metrobank, which can speed up the process significantly. Its 25-year maximum term also appeals to borrowers who want to keep monthly payments low.
Security Bank Home Loan: Strengths and Weaknesses
Security Bank has aggressively expanded its home loan portfolio over the past several years and now regularly appears among the top-ranked banks for interest rate competitiveness. It's particularly known for its EasyHome loan product and fast turnaround times.
Security Bank Home Loan Highlights
- Loan amounts: 1,000,000 to 25,000,000
- Loan terms: Up to 20 years
- Fixed rate periods: 1, 2, 3, 5, or 10 years
- Property types: House and lot, condominium, townhouse
- Turnaround time: As fast as 5 banking days for in-principle approval
Who Security Bank Works Best For
Security Bank is an excellent choice for borrowers who value speed and transparency. Its loan officers are known for proactive communication, and its rates are often 10 to 25 basis points lower than BDO and Metrobank. Self-employed borrowers may also find Security Bank's documentation requirements slightly more accommodating.
Pag-IBIG vs Bank Loans: What You Need to Know
For many Filipino homebuyers, Pag-IBIG (HDMF) is the most affordable option — especially at lower loan amounts. Pag-IBIG's rates start at 6.50% p.a. for a 1-year fix and it allows up to 90% loan-to-value, meaning you can borrow more relative to the property's appraised value.
However, Pag-IBIG has a maximum loanable amount (currently 6,000,000 for the regular program), and approval timelines can be lengthy. For properties above this threshold, or for borrowers who want a faster, fully digital process, bank loans remain the more practical route.
Pag-IBIG vs Bank: Quick Comparison
- Pag-IBIG best for: First-time buyers, lower loan amounts, high LTV needs, borrowers with limited savings for down payment
- Bank loans best for: Higher loan amounts, faster processing, premium properties, OFW borrowers
Monthly Payment Comparison: How Much Does the Rate Actually Matter?
To make this concrete, here's what a 3,000,000 home loan over 20 years looks like at different interest rates:
| Interest Rate | Monthly Payment (est.) | Total Interest Paid | Savings vs 8.50% |
|---|---|---|---|
| 5.99% p.a. (Nook refi) | 21,491 | 2,157,840 | 1,062,720 |
| 6.75% p.a. (BPI) | 22,726 | 2,454,240 | 766,320 |
| 7.00% p.a. (BDO/Metrobank) | 23,259 | 2,582,160 | 638,400 |
| 7.50% p.a. (PNB/UnionBank) | 24,083 | 2,779,920 | 440,640 |
| 8.00% p.a. | 25,093 | 3,022,320 | 198,240 |
| 8.50% p.a. | 26,034 | 3,248,160 | — |
Calculations are estimates based on a reducing balance loan of 3,000,000 over 240 months. Actual payments vary based on bank computation methodology and fees.
As the table shows, the difference between paying 8.50% and refinancing to 5.99% through Nook is over 1,000,000 in total interest on a 3,000,000 loan. For larger loans, the savings multiply accordingly. If you're currently paying above 7%, it's worth checking if you qualify for a refinance.
How to Choose the Right Bank for Your Home Loan
Here are the key factors to weigh when comparing home loan banks in the Philippines:
1. Interest Rate Structure
Most Philippine bank home loans have a fixed rate for an initial period (1, 3, or 5 years), after which the rate re-prices to the bank's prevailing rate. Pay close attention to what happens after the fixed period ends — a low teaser rate that balloons after year 3 may not be as attractive as it first appears.
2. Fees and Charges
Beyond the interest rate, consider: processing fees (typically 5,000 to 15,000), appraisal fees (3,000 to 8,000), mortgage registration fees (varies by property value), and fire insurance premiums. These can add 30,000 to 80,000 to your upfront costs depending on the bank and property.
3. Loan-to-Value Ratio
Most banks lend up to 80% of the appraised value of the property. Pag-IBIG goes up to 90%. If your savings are limited, the LTV ceiling matters — a lower LTV means a higher required down payment.
4. Approval Speed
If you're in a competitive property market or have a developer deadline, approval speed matters. Security Bank and BPI are generally faster; Pag-IBIG and government banks can take longer. For refinancing comparisons by bank, our UnionBank vs BPI home loan comparison covers timelines in more detail.
5. Borrower Profile Fit
Different banks favor different borrower types. BPI and BDO tend to be stricter on income documentation. Security Bank and RCBC can be more flexible for self-employed borrowers. PNB and Landbank are often recommended for government employees. Pag-IBIG is the top choice for lower-income earners and first-time buyers.
6. Existing Banking Relationship
If you already have a savings account, salary account, or credit card with a specific bank, applying for a home loan with that same institution often results in faster processing and occasionally better terms. Always ask your bank of record if they offer preferential rates for existing clients.
Should You Refinance Your Existing Home Loan?
If you already have a home loan and you're paying more than 7% p.a., you may be leaving significant money on the table. Refinancing means taking out a new loan — ideally at a lower rate — to pay off your existing one. The best refinance rate currently available through Nook is 5.99% p.a.
When Refinancing Makes Sense
- Your current rate is 7% or higher
- You have at least 5 years remaining on your loan
- Your outstanding balance is 1,000,000 or more
- Your property value has increased since your original loan (improving your LTV)
- Your income and credit profile have improved since you first applied
Refinancing Costs to Factor In
Refinancing isn't free — you'll typically pay processing fees, appraisal fees, and notarial/registration charges. These usually total 30,000 to 80,000 for most mid-range loans. However, if you're saving 1% or more on your interest rate, you typically recover these costs within 12 to 24 months and save substantially over the remaining loan term.
Nook's free refinancing service helps you calculate your break-even point and compares offers from all major banks so you know exactly which refinance deal is worth taking — with no broker fees charged to you at any point.
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Compare My Options →Frequently Asked Questions
Which bank has the lowest home loan interest rate in the Philippines in 2026?
BPI and Security Bank consistently offer some of the lowest bank home loan rates in the Philippines, with indicative 1-year fixed rates around 6.75% to 6.88% p.a. However, the lowest available rate for refinancing in 2026 is 5.99% p.a., available through Nook for qualified borrowers. Rates change frequently, and your actual rate will depend on your loan amount, term, property type, and credit profile.
Is BDO or BPI better for a home loan?
BPI generally offers lower headline rates than BDO and has a more streamlined digital application process. However, BDO may be the better choice if you're an existing BDO client, have a large loan amount, or prefer dealing with the Philippines' largest branch network. The right answer depends on your personal profile — Nook can compare both simultaneously and tell you which one gives you a better deal for your specific situation.
What is the easiest bank to get a home loan from in the Philippines?
Security Bank and EastWest Bank are generally considered more flexible in their credit evaluation, particularly for self-employed borrowers or those with non-traditional income. Pag-IBIG (HDMF) is the most accessible option for lower-income earners and first-time buyers. For salaried employees with complete documents, most major banks — including BDO and BPI — have relatively straightforward approval processes.
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. So for a property appraised at 5,000,000, you can typically borrow up to 4,000,000. Pag-IBIG allows up to 90% LTV for its program. Maximum loan amounts vary by bank — most major banks cap at 50,000,000 for standard home loans, while Pag-IBIG's regular program is currently capped at 6,000,000.
What documents do I need to apply for a home loan in the Philippines?
Standard requirements across most banks include: valid government-issued IDs, proof of income (for salaried employees: latest payslips and Certificate of Employment; for self-employed: ITR and audited financial statements), marriage certificate (if applicable), copy of the Transfer Certificate of Title (TCT), condominium certificate of title or contract to sell, and the latest tax declaration and real property tax receipts. Requirements vary slightly by bank and borrower type.
How long does home loan approval take in the Philippines?
Approval timelines vary by bank. Security Bank and BPI are among the fastest, with in-principle approvals possible in 5 to 10 banking days for complete applications. BDO and Metrobank typically take 7 to 15 banking days. Pag-IBIG can take 20 to 45 banking days or longer depending on the branch and queue. Incomplete documents are the most common cause of delays at any bank.
What is the difference between a fixed rate and a variable rate home loan in the Philippines?
A fixed rate home loan locks in your interest rate for a set period — typically 1, 3, or 5 years — giving you payment certainty during that time. After the fixed period, the rate re-prices to the bank's prevailing rate, which could be higher or lower. A variable or floating rate loan adjusts more frequently based on market conditions. Most Philippine banks offer fixed-rate lock-in periods as the default, after which the rate becomes variable. Choosing a longer fixed period provides more stability but usually comes with a slightly higher initial rate.
Is it worth refinancing my home loan in the Philippines?
If you're currently paying 7% or more on your home loan, refinancing to the best available rate of 5.99% p.a. could save you hundreds of thousands of pesos over the remaining life of your loan. For example, on a 3,000,000 loan with 15 years remaining, dropping from 8% to 5.99% saves approximately 700,000 in total interest. Refinancing involves upfront costs of roughly 30,000 to 80,000, but these are typically recovered within 12 to 24 months. Nook's free service calculates your personal break-even point and compares offers from all major banks at no cost to you.
Can OFWs apply for a home loan in the Philippines?
Yes, most major Philippine banks including BDO, BPI, Metrobank, and Security Bank have dedicated OFW home loan programs. Requirements typically include proof of employment abroad (POEA contract or employment contract), remittance records, and a designated attorney-in-fact or co-borrower in the Philippines. Pag-IBIG also has an OFW housing loan program. Loan amounts and rates are generally the same as for locally employed borrowers.
What fees should I expect when taking out a home loan in the Philippines?
Beyond your monthly amortization, expect to pay: a processing fee (typically 5,000 to 15,000), an appraisal fee (3,000 to 8,000), mortgage registration fees (varies by property value, usually 0.25% to 0.75% of loan amount), notarial fees, and annual fire insurance premiums. Some banks waive processing and appraisal fees during promotional periods. Always ask for a full fee disclosure before committing to any bank.