Landbank vs Sterling Bank: Home Loan Overview
Landbank (Land Bank of the Philippines) is a government-owned bank with a strong mandate to serve agriculture, countryside development, and government employees. It is one of the largest banks in the Philippines and offers home loan products primarily to government sector workers, though it also serves the general public. Sterling Bank of Asia, on the other hand, is a smaller private thrift bank that offers retail banking services including home loans, typically targeting middle-income borrowers.
Important note: Neither Landbank nor Sterling Bank is currently a Nook partner bank. The rate information presented here is approximate, based on publicly available data, and is subject to change without notice. Always verify current rates directly with the bank or through a licensed broker.
Interest Rate Comparison
| Feature | Landbank | Sterling Bank | Nook Partner Banks |
|---|---|---|---|
| Typical Starting Rate | ~7.00% – 8.50% p.a.* | ~8.00% – 10.00% p.a.* | From 5.99% p.a. ✓ |
| Rate Type | Fixed then repricing | Fixed then repricing | Fixed then repricing |
| Repricing Periods | 1, 2, 3, 5 years (approx.) | 1, 2, 3 years (approx.) | Varies by bank |
| Rate Transparency | Publicly listed (approx.) | Limited public disclosure | Verified & confirmed |
*Approximate rates based on publicly available information as of 2024. Rates are subject to change. Contact the bank directly for current offers.
What Could You Save by Refinancing?
To illustrate the potential impact, consider a homeowner with an outstanding loan balance of 3,000,000 pesos and 20 years remaining. Here is how different rates affect monthly repayments:
| Interest Rate | Monthly Payment (approx.) | Total Interest Over 20 Years (approx.) |
|---|---|---|
| 10.00% p.a. | 28,951 | 3,948,240 |
| 8.50% p.a. | 26,035 | 3,248,400 |
| 7.00% p.a. | 23,259 | 2,582,160 |
| 5.99% p.a. (Nook) | 21,491 | 2,157,840 |
At 5.99% versus 8.50%, you could save approximately 4,544 pesos per month — or around 1,090,560 pesos over 20 years on a 3,000,000 peso loan. That is a significant amount that stays in your pocket.
Fees and Charges
| Fee | Landbank | Sterling Bank | Nook Partner Banks |
|---|---|---|---|
| Processing Fee | Varies (approx. 5,000 – 10,000) | Varies (approx. 5,000 – 8,000) | Varies by bank |
| Appraisal Fee | Charged to borrower | Charged to borrower | Charged to borrower |
| Broker / Facilitator Fee | N/A (direct application) | N/A (direct application) | FREE via Nook |
| Mortgage Redemption Insurance | Required | Required | Required |
One key advantage of refinancing through Nook is that our broker service is 100% free to the borrower. You get access to multiple bank offers and expert guidance at no cost — something neither Landbank nor Sterling Bank can offer on their own.
Loan Terms and Eligibility
| Parameter | Landbank | Sterling Bank |
|---|---|---|
| Loan Tenure | Up to 25 years (approx.) | Up to 20 years (approx.) |
| Minimum Loan Amount | ~500,000 | ~500,000 |
| Maximum Loan-to-Value | Up to 80% | Up to 70% – 80% |
| Target Borrowers | Gov't employees, general public | Middle-income, salaried workers |
| Citizenship Requirement | Filipino citizens | Filipino citizens |
If you are a government employee, Landbank may be a natural starting point — but it is still worth comparing against private bank offers. For a useful comparison involving another government-linked institution, see our DBP vs UCPB home loan rates comparison.
Landbank Home Loans: Key Points
- Government-owned bank with strong institutional backing
- Competitive rates for government employees and Landbank payroll clients
- Wide branch network across the Philippines, including provincial areas
- Rates and terms are subject to BSP regulations and periodic repricing
- Application process can be document-heavy; processing times may vary
For a detailed look at how Landbank compares with another government-affiliated lender, you may also find our Bank of Commerce vs Landbank home loan rates comparison helpful.
Sterling Bank Home Loans: Key Points
- Smaller thrift bank — fewer branches but some flexibility for niche borrowers
- Home loan rates typically on the higher end of the market range
- Less publicly available rate information compared to major universal banks
- May be suitable for borrowers who do not qualify at larger banks
- Processing and approval timelines vary; limited digital application options
Why Consider Refinancing Through Nook?
If you currently have a home loan with Landbank or Sterling Bank — or any other bank — refinancing could be one of the smartest financial moves you make this year. Here is why Nook stands out:
- Best available rate: 5.99% p.a. — significantly lower than what most Filipinos are currently paying
- 100% free service: Nook is paid by the bank, not by you
- Multiple bank options: We compare offers from several partner banks so you get the best deal
- Expert guidance: Our mortgage specialists handle the paperwork and negotiations for you
- Transparent process: No hidden fees, no surprises
All interest rates mentioned on this page are indicative and subject to change. We recommend verifying current rates with your bank or through Nook before making any financial decisions.
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Compare My Options →Frequently Asked Questions
Is Landbank or Sterling Bank better for a home loan?
It depends on your profile. Landbank is generally more suitable for government employees and borrowers who prefer dealing with a large, government-backed institution with nationwide branches. Sterling Bank may be an option for borrowers who do not qualify at major banks, but its rates tend to be higher. For most borrowers seeking the lowest rate and best terms, comparing both against Nook partner banks is highly recommended — Nook currently offers rates as low as 5.99% p.a. at no cost to you.
What are the current home loan rates at Landbank?
Landbank's home loan rates are approximately 7.00% to 8.50% per annum based on publicly available information, though exact rates depend on the loan amount, term, repricing period, and your borrower profile. These rates are subject to change. We recommend contacting Landbank directly or speaking with a Nook mortgage specialist to get an accurate, up-to-date comparison.
What are Sterling Bank's home loan rates?
Sterling Bank of Asia's home loan rates typically range from approximately 8.00% to 10.00% per annum, though the bank does not always publish detailed rate schedules publicly. Rates vary by loan amount, tenure, and borrower qualification. Contact Sterling Bank directly or use Nook's free comparison service to see how their rates stack up against other lenders.
Can I refinance my Landbank home loan through Nook?
Yes. If you currently have a home loan with Landbank, you can refinance it through Nook to access lower rates from our partner banks. Nook's service is completely free to borrowers — we help you find the best available rate, handle the paperwork, and guide you through the entire process. The best refinance rate currently available through Nook is 5.99% p.a.
How much can I save by refinancing from a higher rate to 5.99%?
The savings depend on your outstanding loan balance, remaining term, and current rate. As an example, on a 3,000,000 peso loan with 20 years remaining, switching from 8.50% to 5.99% per annum could save you approximately 4,544 pesos per month — or over 1,000,000 pesos over the life of the loan. Use Nook's free calculator or speak with a specialist to get a personalized estimate.
Is there a fee to use Nook's mortgage brokering service?
No. Nook's service is 100% free for borrowers. Nook is compensated by the bank when a loan is successfully facilitated, so you pay nothing for access to rate comparisons, expert advice, and application support. This makes Nook a cost-effective alternative to applying directly at any single bank.
How long does it take to refinance a home loan in the Philippines?
The typical refinancing timeline in the Philippines is 4 to 8 weeks, depending on document completeness, bank processing times, and property appraisal scheduling. Working with Nook can help streamline the process since our specialists are familiar with each partner bank's requirements and can flag issues early to avoid delays.