Housing Loan Interest Rates in the Philippines: A Complete 2026 Bank Comparison
If you took out a home loan two, three, or five years ago, there is a good chance you are paying more interest than you need to. Philippine banks reprice existing loans periodically — often upward — while quietly offering sharper rates to attract new borrowers. Understanding where rates stand today, across every major lender, is the first step toward making sure your mortgage is still working for you.
This guide breaks down 2026 housing loan interest rates from BDO, BPI, Metrobank, Security Bank, PNB, RCBC, UnionBank, Chinabank, PSBank, EastWest Bank, and Pag-IBIG. We also explain how lenders set their rates, what typical Filipino homeowners are actually paying, and what to do if the numbers reveal you are overpaying.
How Philippine Banks Set Housing Loan Rates
Most bank housing loans in the Philippines carry a fixed rate for an initial period — commonly 1, 2, 3, 5, or 10 years — after which the loan reprices based on prevailing market conditions. The fixed period gives you certainty early on, but the repricing event is where many homeowners are caught off guard. A loan that started at 6.5% in 2019 may now be sitting at 8.5% or higher after multiple repricing cycles.
Banks anchor their mortgage rates to benchmark rates set by the Bangko Sentral ng Pilipinas (BSP). When the BSP raised its overnight reverse repurchase rate aggressively between 2022 and 2024 to control inflation, banks followed by lifting their home loan rates. As the BSP begins an easing cycle in 2025 and into 2026, fixed rates on new loans have started to moderate — which is exactly why now is a strong window for borrowers to compare and consider refinancing.
2026 Housing Loan Interest Rates — Major Philippine Banks
The table below reflects indicative annual interest rates being quoted for new housing loan applications or refinancing in 2026. Actual rates depend on loan amount, loan-to-value (LTV) ratio, property type, and your credit profile. Always request a formal loan offer from the bank before making any decision.
BDO Unibank
BDO remains the largest home loan lender by volume in the Philippines. In 2026, BDO is quoting indicative fixed rates starting at approximately 7.00% for a 1-year fix, rising to around 8.00%–8.50% for a 5-year fix. BDO has a wide branch network and accepts a broad range of property types, including house and lot, condominium units, and vacant lots.
BPI (Bank of the Philippine Islands)
BPI is known for competitive pricing on well-documented loan applications. In 2026, BPI's indicative rates start at around 6.75%–7.25% for a 1-year fix and move to 7.75%–8.25% for a 5-year fix. BPI's online application process is relatively streamlined, and they are generally receptive to refinancing applications from borrowers with clean credit histories.
Metrobank
Metrobank offers a tiered pricing approach where larger loan amounts sometimes attract slightly lower rates. Indicative 2026 rates start at approximately 7.00%–7.50% for a 1-year fix. Metrobank is particularly active in the mid- to high-end property segment and accepts loans up to 80% of appraised value.
Security Bank
Security Bank has been one of the more aggressively priced lenders in recent years. Their indicative 2026 housing loan rates start at approximately 6.75% for a 1-year fix, with competitive offers on 3- and 5-year fixed terms as well. Security Bank is also one of the more borrower-friendly lenders when it comes to refinancing turnaround time.
PNB (Philippine National Bank)
PNB's housing loan rates in 2026 are indicatively in the range of 7.00%–7.75% depending on the fixing period. PNB often runs promotional rates for certain property developments and for OFW borrowers, so it is worth asking specifically about applicable promos when you inquire.
RCBC (Rizal Commercial Banking Corporation)
RCBC offers competitive housing loan packages, particularly for OFW applicants. Indicative 2026 rates are in the range of 7.00%–8.00% depending on fixing period and loan amount. RCBC has a dedicated OFW housing loan product with slightly relaxed documentation requirements.
UnionBank
UnionBank leans into its digital capabilities and tends to attract tech-forward borrowers. Their indicative 2026 housing loan rates are approximately 7.25%–8.00%, with a fully online application experience. Processing times can be faster than traditional lenders for well-documented applications.
Chinabank (China Banking Corporation)
Chinabank is a consistent mid-market player on home loan rates. In 2026, indicative rates are approximately 7.00%–7.75%. Chinabank tends to be conservative on LTV ratios — often going up to 70%–75% of appraised value — but compensates with flexible fixing period options.
PSBank (Philippine Savings Bank)
PSBank, as a thrift bank and subsidiary of Metrobank, offers housing loans with indicative 2026 rates in the range of 7.25%–8.00%. PSBank has historically been strong in the mass-market housing segment and processes loans for properties priced from around 1,000,000 upward.
EastWest Bank
EastWest Bank's indicative 2026 housing loan rates are approximately 7.25%–8.25%. They accept condominium units and house-and-lot properties and have a reasonably competitive refinancing program for borrowers switching from other banks.
Pag-IBIG (HDMF)
Pag-IBIG remains the most affordable lender for qualified members, with housing loan rates as low as 5.75% for loans up to 750,000 under their Affordable Housing Loan program. For standard housing loans above 750,000, Pag-IBIG's rates are in the range of 6.375%–10.00% depending on the fixing period chosen (1, 3, 5, 10, 15, 20, 25, or 30 years). Pag-IBIG's long fixed-rate options are unique — no bank currently offers a 25-year fixed rate, making Pag-IBIG a strong choice for borrowers who want rate certainty across a very long horizon. Note that eligibility depends on active Pag-IBIG membership and contribution history.
What Are Most Filipino Homeowners Actually Paying?
While new loan rates have moderated in 2026, many existing borrowers are still sitting on rates from repricing cycles in 2022–2024, when BSP policy rates were at their peak. Based on typical repriced rates across major banks, a significant portion of existing home loan borrowers are paying between 8% and 10% per annum. Some borrowers who originally locked in a short 1-year fix multiple times over are now at the higher end of that range.
To put that in concrete terms: on a loan balance of 3,500,000 over 20 remaining years, the difference between paying 9.00% and refinancing to 5.99% is approximately 31,000 per month in mortgage repayments — a saving of roughly 7,400 pesos every single month. Over 20 years, that compounds to roughly 1,780,000 in total interest savings. You can estimate your own savings using Nook's free home loan refinance calculator with your actual balance and remaining term.
The Lowest Rate Available Through Nook in 2026
Through Nook's lender panel, the best refinance rate currently available is 5.99% per annum. This rate is competitive against every bank listed above for equivalent fixing periods and is available to eligible borrowers refinancing existing home loans. Nook's service is completely free to the borrower — Nook is compensated by the lender, never by you.
What to Do If You Are Overpaying
If your current mortgage rate is above 7.5%, it is worth running the numbers on refinancing. Here is a practical three-step approach:
- Step 1 — Know your current rate and balance. Check your latest loan statement or call your bank. Confirm your outstanding balance, current interest rate, and remaining term. If your loan is due to reprice in the next 6 months, act now — you can lock in a new rate before the old one resets higher.
- Step 2 — Calculate your break-even point. Refinancing involves transaction costs: bank fees, documentary stamp tax, notarial fees, and mortgage registration. These typically total 1%–2% of the loan amount. If your monthly savings from a lower rate recoup those costs within 24–36 months, refinancing is almost certainly worthwhile. Use the Nook refinance break-even calculator to find your exact payback period.
- Step 3 — Apply through a mortgage broker. Rather than approaching each bank individually, a mortgage broker like Nook submits your application to multiple lenders simultaneously and presents you with competing offers. This saves weeks of legwork and ensures you are not accepting the first number one bank puts in front of you.
Key Factors That Affect Your Individual Rate
Even within a single bank, not every borrower receives the same rate. The following factors influence the specific rate you will be offered:
- Loan-to-value (LTV) ratio: Borrowing 60% of your property's value typically earns a better rate than borrowing 80%. Banks perceive lower LTV as lower risk.
- Loan amount: Larger loan amounts (above 5,000,000) sometimes qualify for relationship pricing, especially at major universal banks.
- Credit history: A clean repayment record — no missed payments, no restructured loans — is the single most important factor in qualifying for a lender's best rate.
- Income stability: Salaried employees with at least two years of tenure at their current employer are generally viewed more favorably than self-employed applicants, though self-employed borrowers are absolutely eligible with proper documentation.
- Property type: Freehold house-and-lot properties in established subdivisions attract the most favorable terms. Condominium units may face LTV caps or slight rate premiums depending on the lender.