Lowest Home Loan Interest Rates in the Philippines (2026)
Below is a summary of indicative fixed-period rates from the Philippines' major home loan lenders as of 2026. Rates shown are for the initial fixed period (typically 1–5 years) and are subject to change based on borrower profile, loan amount, and property valuation. Use this table as a starting point — then let Nook find your actual best offer.
| Bank / Lender | Indicative Rate (1-yr fix) | Indicative Rate (3-yr fix) | Indicative Rate (5-yr fix) | Min. Loan Amount | Max. LTV |
|---|---|---|---|---|---|
| BDO | 6.50% p.a. | 7.00% p.a. | 7.25% p.a. | 500,000 | 80% |
| BPI | 6.25% p.a. | 6.75% p.a. | 7.00% p.a. | 500,000 | 80% |
| Metrobank | 6.50% p.a. | 7.00% p.a. | 7.25% p.a. | 500,000 | 80% |
| Security Bank | 6.25% p.a. | 6.88% p.a. | 7.13% p.a. | 1,000,000 | 80% |
| RCBC | 6.50% p.a. | 7.13% p.a. | 7.38% p.a. | 1,000,000 | 80% |
| UnionBank | 6.75% p.a. | 7.25% p.a. | 7.50% p.a. | 1,000,000 | 75% |
| Chinabank | 6.50% p.a. | 7.00% p.a. | 7.25% p.a. | 1,000,000 | 80% |
| EastWest Bank | 6.75% p.a. | 7.25% p.a. | 7.50% p.a. | 1,000,000 | 80% |
| PNB | 6.75% p.a. | 7.25% p.a. | 7.50% p.a. | 500,000 | 80% |
| PSBank | 7.00% p.a. | 7.50% p.a. | 7.88% p.a. | 500,000 | 80% |
| Robinsons Bank | 6.88% p.a. | 7.25% p.a. | 7.63% p.a. | 1,000,000 | 80% |
| Landbank | 6.50% p.a. | 7.00% p.a. | 7.25% p.a. | 300,000 | 80% |
| Pag-IBIG (HDMF) | 5.75% p.a.* | 6.50% p.a.* | 6.84% p.a.* | 100,000 | 90% |
| Best via Nook | 5.99% p.a. | 5.99% p.a. | 5.99% p.a. | 1,000,000 | 80% |
* Pag-IBIG rates apply only to qualified members and are subject to loan ceiling limits. Rates for all other banks are indicative and for comparison purposes only. Actual approved rates may vary. Last updated: 2026.
How Much Can You Save by Getting a Lower Rate?
To make the comparison concrete, here's how monthly repayments and total interest differ across three common loan scenarios when you move from a typical bank rate to the best available rate through Nook.
Scenario 1: 3,000,000 loan over 20 years
| Interest Rate | Monthly Payment | Total Interest Paid | vs. 5.99% Savings |
|---|---|---|---|
| 8.00% p.a. | 25,093 | 3,022,320 | Save 759,840 |
| 7.50% p.a. | 24,063 | 2,775,120 | Save 512,640 |
| 7.00% p.a. | 23,259 | 2,582,160 | Save 319,680 |
| 5.99% p.a. (Nook) | 21,481 | 2,155,440 | — |
Scenario 2: 5,000,000 loan over 20 years
| Interest Rate | Monthly Payment | Total Interest Paid | vs. 5.99% Savings |
|---|---|---|---|
| 8.00% p.a. | 41,822 | 5,037,280 | Save 1,266,400 |
| 7.50% p.a. | 40,105 | 4,625,200 | Save 854,320 |
| 7.00% p.a. | 38,765 | 4,303,600 | Save 532,720 |
| 5.99% p.a. (Nook) | 35,802 | 3,592,480 | — |
Scenario 3: 8,000,000 loan over 20 years
| Interest Rate | Monthly Payment | Total Interest Paid | vs. 5.99% Savings |
|---|---|---|---|
| 8.00% p.a. | 66,915 | 8,059,600 | Save 2,026,880 |
| 7.50% p.a. | 64,168 | 7,400,320 | Save 1,367,600 |
| 7.00% p.a. | 62,024 | 6,885,760 | Save 852,240 |
| 5.99% p.a. (Nook) | 57,283 | 6,033,520 | — |
Monthly payments are calculated on a standard reducing balance basis for illustrative purposes. Actual payments depend on your approved rate, fees, and amortization schedule.
BDO vs BPI: The Two Biggest Banks Head-to-Head
BDO and BPI are the Philippines' two largest banks and the most common home loan providers. Many borrowers assume their existing bank will give them the best deal — but that's rarely the case. In a detailed BPI vs BDO home loan comparison, BPI has generally offered slightly sharper rates on shorter fixed periods, while BDO competes more aggressively on longer fixed terms and larger loan amounts. Neither bank is consistently cheaper for every borrower profile.
BDO Home Loan
- Indicative 1-yr rate: 6.50% p.a.
- Indicative 5-yr rate: 7.25% p.a.
- Max term: 25 years
- Min loan: 500,000
- Max LTV: 80%
- Processing fee: ~1% of loan amount
- Strong for: large loan amounts, existing BDO clients
BPI Home Loan
- Indicative 1-yr rate: 6.25% p.a.
- Indicative 5-yr rate: 7.00% p.a.
- Max term: 20 years
- Min loan: 500,000
- Max LTV: 80%
- Processing fee: ~1% of loan amount
- Strong for: professionals, BPI account holders, faster processing
Both banks re-price your rate at the end of each fixed period, meaning your monthly payment can increase significantly. Refinancing before your rate re-prices is one of the most effective ways Filipino homeowners protect their budget.
Pag-IBIG vs Commercial Banks: Is the Government Rate Always Best?
Pag-IBIG (HDMF) is often cited as offering the lowest home loan rates in the Philippines, and for qualified members on loans under 6,000,000, this is frequently true. However, Pag-IBIG loans come with important limitations: strict eligibility requirements tied to active membership contributions, loan ceilings, and longer processing times. For properties above 6,000,000 or borrowers who need faster approval, commercial banks or Nook's network of partner lenders often deliver a better overall package — sometimes at rates comparable to or lower than Pag-IBIG's headline figures.
| Feature | Pag-IBIG (HDMF) | Commercial Banks | Via Nook |
|---|---|---|---|
| Lowest available rate | 5.75% p.a.* | 6.25% p.a. | 5.99% p.a. |
| Max loan amount | 6,000,000 | Up to 80% of property value | Up to 80% of property value |
| Eligibility | Active Pag-IBIG members only | Employed / self-employed | Employed / self-employed |
| Processing time | 30–60 days | 2–6 weeks | 2–4 weeks |
| Broker fee | None | None | Free |
* Pag-IBIG's 5.75% rate applies to loans up to 450,000 for qualified low-income members. Rates for higher loan tiers are higher.
What Determines Your Home Loan Interest Rate in the Philippines?
Banks don't offer the same rate to every borrower. Your actual approved rate is influenced by several factors:
- Loan-to-Value (LTV) ratio: The lower your LTV (the more equity or down payment you have), the better your rate. Most banks offer their best rates at 60–70% LTV.
- Loan amount: Larger loans sometimes attract better rates because the bank earns more revenue per account.
- Employment type: Salaried employees at stable companies typically get lower rates than self-employed borrowers or OFWs, though this gap has narrowed.
- Credit history: A clean credit history with no missed payments significantly improves your chances of approval at the lowest rate tier.
- Fixed period chosen: Shorter fixed periods (1–2 years) usually carry lower initial rates but expose you to re-pricing risk sooner.
- Existing relationship with the bank: Payroll account holders or long-term depositors may receive preferential rates, though this varies by bank.
- Property type and location: Condominiums in Metro Manila are assessed differently from house-and-lot properties in provincial areas.
Should You Refinance Your Existing Home Loan?
If you took out your home loan more than two years ago and haven't reviewed your rate since, there is a strong chance you are paying more than you need to. Here are the clearest signs it's time to refinance:
- Your current interest rate is 7.00% p.a. or higher
- Your fixed period has expired or is about to expire
- Your remaining loan balance is at least 1,000,000
- You have at least 10 years remaining on your loan term
- Your income and credit profile are stable
Refinancing through Nook costs you nothing — Nook is compensated by the bank, not the borrower. You submit one application and receive competing offers from multiple lenders. See how BPI compares to Metrobank for refinancing as one example of how much the right bank selection matters.
Refinancing Cost Estimates
| Cost Item | Typical Amount | Notes |
|---|---|---|
| Bank processing fee | 10,000 – 30,000 | Some banks waive this for refinance applications |
| Appraisal fee | 3,500 – 7,000 | Paid to bank-appointed appraiser |
| Notarial / legal fees | 5,000 – 15,000 | Varies by location and loan size |
| Transfer / registration fees | 10,000 – 25,000 | Required for title transfer to new bank |
| Nook broker fee | 0 | 100% free to the borrower |
| Estimated total cost | 28,500 – 77,000 | Typically recovered in 2–4 months of savings |
How Nook Works: Compare All Banks in One Free Application
- Tell us about your loan: Share your current bank, rate, remaining balance, and property details — takes under 5 minutes.
- We shop the market: Nook compares offers from BDO, BPI, Metrobank, Security Bank, RCBC, and other partner lenders to find your lowest available rate.
- You choose the best offer: We present your options clearly — no jargon, no pressure — and you decide which lender to proceed with.
- We handle the paperwork: Nook guides you through the full application and coordinates with the bank on your behalf.
- You save, month after month: Once approved, your lower rate takes effect and you keep the savings every month for the rest of your loan.
Nook's service is 100% free to the borrower. We are compensated by the bank only when your application is successfully approved — so our incentive is always to get you the best possible outcome.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
What is the lowest home loan interest rate in the Philippines right now?
The lowest home loan interest rate currently available through Nook is 5.99% p.a. Pag-IBIG offers rates starting from 5.75% p.a. for qualified members on smaller loan amounts (typically up to 450,000 for the lowest tier). For loans of 1,000,000 and above from commercial banks, 5.99% p.a. is among the most competitive rates available in 2026.
Which bank has the lowest home loan rate in the Philippines in 2026?
BPI and Security Bank currently offer some of the lowest indicative rates among commercial banks, with 1-year fixed rates starting around 6.25% p.a. However, the best rate for your specific situation depends on your loan amount, LTV ratio, employment type, and credit history. Nook compares multiple lenders simultaneously to find your personally lowest rate — often lower than what any individual bank would quote you directly.
Is Pag-IBIG always the cheapest home loan option?
Not always. Pag-IBIG's 5.75% p.a. headline rate applies only to very small loan amounts for qualified low-income members. For loans above 750,000, Pag-IBIG's rates are typically between 6.50% and 6.84% p.a. — comparable to or higher than commercial bank offers through Nook. Pag-IBIG also has stricter eligibility requirements, loan ceilings of 6,000,000, and longer processing times. It is worth comparing both options before deciding.
What is the difference between a fixed rate and a variable rate home loan in the Philippines?
A fixed rate home loan locks your interest rate for an agreed period — typically 1, 2, 3, or 5 years. Your monthly payment stays the same during this period. After the fixed period ends, the bank re-prices your rate based on prevailing market rates, which almost always means your payment increases. A variable rate loan can move up or down with market conditions from the start. Most Philippine banks offer fixed-period loans that convert to variable after the fixed term expires.
How do I qualify for the lowest home loan interest rate?
To qualify for the lowest available rates, you generally need: a loan-to-value ratio of 70% or below (meaning a down payment of at least 30%); a stable employment history of at least 2 years with the same employer or business; a clean credit record with no missed payments or defaults; a loan amount of at least 1,000,000; and a property that appraises well relative to the purchase price. Meeting these criteria does not guarantee the lowest rate, but it puts you in the best position to qualify for it.
How much does it cost to refinance a home loan in the Philippines?
Refinancing typically costs between 28,500 and 77,000 in one-time fees, covering the bank's processing fee, property appraisal, notarial and legal fees, and title registration. Some banks waive processing fees for refinance applications. These costs are usually recovered within 2 to 4 months of savings from your lower monthly payment. Nook's service is completely free to the borrower — we are paid by the bank only upon successful approval.
Can I refinance my home loan with a different bank?
Yes. Refinancing with a different bank — sometimes called external refinancing — is very common in the Philippines and is often how homeowners secure the biggest savings. The new bank pays off your existing loan and issues a new one at a lower rate. You will need to complete a fresh loan application, provide supporting documents, and pay the associated transfer and registration fees. Nook manages this entire process for you at no cost.
How long does home loan refinancing take in the Philippines?
The typical refinancing timeline through a commercial bank is 2 to 6 weeks from complete document submission to loan release. Pag-IBIG refinancing can take 30 to 60 days. Nook helps accelerate this by ensuring your documents are complete and correctly prepared before submission, and by liaising directly with the bank on your behalf. Most Nook clients complete the process within 3 to 4 weeks.
Does applying through Nook affect my credit score?
Submitting an inquiry or getting a rate comparison through Nook does not affect your credit score. A formal credit inquiry by the bank occurs only when you proceed with a full loan application to a specific lender. Nook helps you identify the right lender before committing, which reduces the risk of multiple credit inquiries from applying to several banks on your own.
What documents do I need to refinance my home loan in the Philippines?
Standard documents required for home loan refinancing include: valid government-issued ID; latest 3 months' payslips or ITR (Income Tax Return) for the last 2 years; Certificate of Employment; latest 3 months' bank statements; copy of your existing loan statement of account; Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT); Tax Declaration; and your latest real property tax receipt. Self-employed applicants will also need business registration documents and financial statements. Nook provides a complete personalised checklist once you start your application.