Landbank vs PSBank: Home Loan Overview
When comparing Landbank and PSBank for a home loan or refinance, it's important to understand what each institution brings to the table. Landbank (Land Bank of the Philippines) is a government-owned bank with a mandate to serve a broad range of Filipinos, including those in agriculture and rural areas. PSBank (Philippine Savings Bank), on the other hand, is the thrift banking arm of Metrobank Group, known for its straightforward consumer banking products.
Please note: Both Landbank and PSBank are not currently Nook partner banks. The rates and information presented here are approximate, based on publicly available data and general market knowledge, and are subject to change without notice. Always verify current rates directly with the bank before making any financial decisions.
Interest Rate Comparison
| Feature | Landbank | PSBank | Nook Partner Banks |
|---|---|---|---|
| Indicative Starting Rate | ~7.00% – 9.00% p.a.* | ~7.50% – 10.00% p.a.* | From 5.99% p.a. (verified) |
| Rate Type | Fixed then repricing | Fixed then repricing | Varies by bank and term |
| Rate Verification | Approximate only | Approximate only | Confirmed with partner banks |
| Broker Fee | Not applicable | Not applicable | Free via Nook |
*Approximate rates based on publicly available information as of 2024. Actual rates offered by Landbank and PSBank may vary based on loan amount, term, borrower profile, and prevailing market conditions. These figures are not guaranteed and should be verified directly with each bank.
What Does a Rate Difference Actually Cost You?
To illustrate why even a 1–2 percentage point difference in your home loan rate matters enormously, consider a borrower with an existing loan balance of 3,000,000 pesos over a remaining 20-year term.
| Scenario | Rate | Monthly Payment (approx.) | Total Interest Paid (approx.) |
|---|---|---|---|
| Landbank (estimated mid-range) | 8.00% p.a. | 25,093 | 3,022,320 |
| PSBank (estimated mid-range) | 8.50% p.a. | 26,035 | 3,248,400 |
| Nook Best Rate | 5.99% p.a. | 21,490 | 2,157,600 |
Refinancing from an 8.00% rate to 5.99% p.a. on a 3,000,000-peso loan over 20 years could save you approximately 864,720 pesos in total interest — or around 3,603 pesos every single month. That's money that stays in your pocket.
Loan Features and Eligibility
| Feature | Landbank | PSBank |
|---|---|---|
| Loan Purpose | Purchase, construction, refinancing | Purchase, construction, refinancing |
| Loan Amount | Typically from 500,000 pesos | Typically from 500,000 pesos |
| Maximum Loan Term | Up to 25 years (indicative) | Up to 20 years (indicative) |
| Eligible Borrowers | Filipino citizens, OFWs, government employees | Filipino citizens, employed and self-employed |
| OFW Friendly | Yes | Yes (with conditions) |
| Processing Time | Several weeks (varies) | Several weeks (varies) |
Landbank has a historically strong presence in serving government employees and rural borrowers, while PSBank tends to cater to urban salaried and self-employed individuals through its Metrobank Group network. If you're curious how Landbank compares to other lenders, see our Landbank vs Security Bank home loan comparison for another useful data point.
Fees and Charges
Both Landbank and PSBank charge standard home loan fees, which typically include appraisal fees, notarial fees, mortgage registration fees, and documentary stamp tax. These costs are generally borne by the borrower regardless of which bank you choose. Exact fee schedules should be confirmed directly with each bank, as they are subject to change.
One advantage of working with Nook is that our broker service is 100% free — we are compensated by the partner bank, not by you. This means you get access to multiple competitive offers without paying a middleman fee.
Why Consider Refinancing Through Nook Instead?
If you currently have a home loan with Landbank or PSBank — or are considering applying to either — it's worth checking what's available through Nook's partner bank network before committing. Here's why:
- Lower verified rates: Nook partner banks are offering rates from 5.99% p.a. — confirmed and up to date, not approximate.
- Multiple offers in one place: Instead of applying to several banks individually, Nook compares options across multiple lenders for you.
- Free service: Nook charges borrowers nothing. The bank pays the fee when your loan is approved.
- Expert guidance: Nook's mortgage specialists guide you through the entire process, from document preparation to disbursement.
For further comparisons involving Landbank, you may also want to read our Landbank vs RCBC home loan comparison to see how these rates stack up against another major private bank.
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Compare My Options →Frequently Asked Questions
Which has lower home loan rates — Landbank or PSBank?
Based on publicly available information, Landbank's indicative home loan rates tend to start slightly lower than PSBank's, generally in the 7% to 9% range versus PSBank's approximate 7.5% to 10% range. However, both banks' rates are subject to change and depend on your loan amount, term, and borrower profile. We strongly recommend verifying current rates directly with each bank — and checking Nook's partner banks, where verified rates start from 5.99% p.a.
Can I refinance my Landbank or PSBank home loan through Nook?
Yes. If you currently have a home loan with Landbank or PSBank, you may be eligible to refinance to a lower rate through one of Nook's partner banks. Nook's service is completely free to borrowers — we match you with the best available offer and guide you through the entire refinancing process at no cost to you.
How much can I save by refinancing from Landbank or PSBank to a Nook partner bank?
The savings depend on your current rate, outstanding loan balance, and remaining term. As an example, a borrower with a 3,000,000-peso balance at 8.00% p.a. refinancing to 5.99% p.a. over 20 years could save approximately 864,720 pesos in total interest — or around 3,603 pesos per month. Use Nook's free calculator to estimate your specific savings.
Is Landbank a good option for home loans in the Philippines?
Landbank is a reputable government-owned bank and can be a solid option, particularly for government employees, OFWs, and borrowers in rural areas. However, its rates and processes may not always be the most competitive compared to private banks or what's available through Nook's partner network. It's always worth comparing before committing.
Is PSBank good for home loans?
PSBank, as part of the Metrobank Group, is a credible and established thrift bank. Its home loan products are generally straightforward, but its rates tend to sit in the mid-to-upper range of the market. If you value the Metrobank group's branch network and reputation, PSBank may be convenient — but for the most competitive rates, it's worth exploring Nook's partner banks as well.
Are the rates shown for Landbank and PSBank accurate?
The rates shown on this page are approximate, based on publicly available information and general market knowledge. Neither Landbank nor PSBank is a Nook partner bank, so we cannot verify their current promotional or standard rates in real time. Always contact Landbank or PSBank directly to confirm their latest rates before making any decision. Nook partner bank rates, by contrast, are verified and updated regularly.
What documents do I need to refinance my home loan?
Typical requirements for home loan refinancing in the Philippines include a valid government-issued ID, proof of income (payslips or ITR for employed borrowers; financial statements for self-employed), a copy of your existing loan's statement of account, the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), and a tax declaration of the property. Nook's mortgage specialists will help you prepare and organize all required documents as part of the free service.