Landbank vs Metrobank Home Loan: Overview
Landbank of the Philippines (LBP) is a government-owned universal bank with a strong focus on public sector employees, farmers, and rural communities, though it also offers home loan products to qualified private borrowers. Metrobank (Metropolitan Bank and Trust Company) is one of the largest private universal banks in the Philippines, with a broad range of home loan and refinancing products targeting the mass market and upscale segments alike.
Important disclosure: Neither Landbank nor Metrobank are currently Nook partner banks. The rates and terms discussed below are approximate figures based on publicly available information and general market knowledge. All rates are subject to change without notice — always verify directly with the bank before making any financial decision.
Interest Rate Comparison
Based on publicly available information, here is a general picture of how these two banks position their home loan rates:
| Feature | Landbank | Metrobank |
|---|---|---|
| Approximate 1-Year Fixed Rate | ~7.00% – 8.00% p.a. | ~7.25% – 8.50% p.a. |
| Approximate 3-Year Fixed Rate | ~7.50% – 8.50% p.a. | ~7.75% – 9.00% p.a. |
| Approximate 5-Year Fixed Rate | ~8.00% – 9.00% p.a. | ~8.00% – 9.25% p.a. |
| Rate Transparency | Limited online disclosure; branch inquiry required | Partial online disclosure; varies by profile |
| Promotional Rates | Occasional; typically for government employees | Occasional; tied to developer tie-ups |
Disclaimer: Rates shown are approximate and based on publicly available market information. Actual rates depend on your loan amount, term, credit profile, and current bank policies. Verify directly with Landbank or Metrobank for current offers.
For a broader comparison of how Metrobank stacks up against other lenders, you may also find our BDO vs Metrobank home loan comparison useful.
Loan Amount and Term Eligibility
| Feature | Landbank | Metrobank |
|---|---|---|
| Minimum Loan Amount | ~500,000 | ~500,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 80% of appraised value |
| Loan Term | Up to 25 years | Up to 20–25 years |
| Target Borrower | Government employees, LBP account holders, qualified private borrowers | Employed, self-employed, OFWs, developers' buyers |
Fees and Charges
Both banks charge standard processing and documentary fees typical of Philippine home loans. These can include appraisal fees, notarial fees, registration fees, mortgage redemption insurance (MRI), and fire insurance. Neither bank publicly discloses a complete, up-to-date fee schedule online, so you will need to request a formal loan quote from each bank directly.
| Fee Type | Landbank | Metrobank |
|---|---|---|
| Processing Fee | Typically charged; amount varies | Typically charged; amount varies |
| Appraisal Fee | Yes, borrower-shouldered | Yes, borrower-shouldered |
| MRI & Fire Insurance | Required annually | Required annually |
| Early Termination / Prepayment Penalty | May apply within fixed-rate period | May apply within fixed-rate period |
When refinancing, hidden fees can significantly erode your savings. Nook helps borrowers understand the true all-in cost of any refinance offer — for free.
Refinancing with Landbank vs Metrobank
Both banks accept home loan refinancing applications from existing borrowers at other banks. However, the process at both institutions is primarily branch-based, meaning you will need to visit in person, compile a full set of documents, and wait for manual processing — which can take several weeks to months.
Key refinancing considerations:
- Landbank may be more accessible if you are a government employee or already hold a Landbank deposit account. Their refinancing rates for this segment can be more competitive, though still subject to prevailing market conditions.
- Metrobank has a wider branch network and may be more familiar to private-sector borrowers. Their refinancing products can include special rates tied to specific developer partnerships or promotional campaigns.
- Neither bank offers a fully digital refinancing application process as of this writing.
- Both banks will require a new appraisal of your property, full income documentation, and a credit evaluation.
If you previously considered Landbank, you might also want to read our BDO vs Landbank comparison to see how the government bank measures up against one of the country's largest private banks.
How Nook Compares
Nook is the Philippines' first digital mortgage broker, and our service is 100% free to borrowers. Instead of approaching one bank at a time, Nook lets you access multiple verified partner bank offers in one place — so you can compare real, confirmed rates rather than estimates.
| Feature | Landbank | Metrobank | Nook |
|---|---|---|---|
| Best Available Rate | ~7.00%+ p.a. (approx.) | ~7.25%+ p.a. (approx.) | From 5.99% p.a. |
| Rate Certainty | Requires branch visit | Requires branch visit | Verified partner rates |
| Application Process | In-branch, manual | In-branch, manual | Digital, streamlined |
| Broker Fee to Borrower | N/A | N/A | Free |
| Multiple Bank Comparison | No | No | Yes |
To illustrate the potential savings: on a loan of 3,000,000 over 20 years, refinancing from 8.00% to 5.99% p.a. could reduce your monthly payment by approximately 3,800 to 4,200 pesos — saving you hundreds of thousands over the life of the loan.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which is better for a home loan — Landbank or Metrobank?
It depends on your profile. Landbank may be the better option if you are a government employee or already bank with them, as they sometimes offer preferential rates to these segments. Metrobank may suit private-sector employees and self-employed borrowers better, given its wider product range and branch network. That said, both banks' rates are approximate and must be verified directly. If your goal is to find the lowest possible refinance rate, working with a broker like Nook — which compares multiple banks at once — will likely yield a better result than approaching either bank alone.
What are Landbank's current home loan rates?
Landbank does not consistently publish its home loan rates online, making it difficult to provide an exact figure. Based on publicly available market information, Landbank's home loan rates are generally estimated to fall in the range of 7.00% to 9.00% p.a., depending on the fixed-rate period, loan amount, and borrower profile. You should contact a Landbank branch directly or visit their website for current, confirmed rates, as these are subject to change at any time.
What are Metrobank's current home loan rates?
Metrobank publishes some rate information online but the full picture — including promotional rates and applicable terms — typically requires a formal loan application or branch consultation. General market estimates place Metrobank's home loan rates between approximately 7.25% and 9.25% p.a. depending on the fixing period and borrower qualifications. Always verify current rates directly with Metrobank, as all rates are subject to change.
Can I refinance my Landbank home loan with Metrobank, or vice versa?
Yes, both banks generally accept refinancing applications from borrowers whose loans are currently held at other institutions, including each other. You will typically need to provide full income documentation, a property appraisal, and a clearance or statement of account from your current lender. The process can take several weeks. Alternatively, you can use Nook's free service to compare offers from multiple banks simultaneously, which can save you time and potentially secure a better rate than either bank alone.
Is Nook's mortgage broker service really free?
Yes. Nook's service is 100% free to borrowers. Nook earns a referral fee from the partner bank when a loan is successfully completed — similar to how travel booking platforms work. You pay nothing extra for using Nook, and in most cases you access the same or better rates than going directly to the bank.
How much can I save by refinancing through Nook instead of staying with my current bank?
Savings depend on your current rate, loan balance, and remaining term. As a general example: if you have a 3,000,000 peso loan with 15 years remaining at 8.50% p.a., refinancing to 5.99% p.a. through Nook could reduce your monthly payment by roughly 3,500 to 4,500 pesos and save you over 600,000 pesos in total interest over the life of the loan. Use Nook's free calculator at nook.com.ph to get an estimate based on your actual numbers.
Does Landbank offer home loans to private sector employees?
Yes, Landbank does offer home loans to qualified private sector employees, though their products have historically been more closely associated with government employees and LBP account holders. Private sector applicants may find that other banks — or a broker like Nook — offer more competitive terms for their profile. It is worth comparing multiple options before committing.