If you took out a home loan with Maya Bank, you may be paying more than necessary. Refinancing to a traditional bank through Nook could save you over 58,000 pesos every year — and the entire process is free.
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Why this matters
Maya Bank entered the Philippine home loan market as part of the broader fintech wave, attracting borrowers with a streamlined digital application experience. But a smooth sign-up process doesn't always translate into the most competitive long-term rate. Many Maya Bank home loan holders are now finding that established banks — competing aggressively for refinancing business — can offer significantly lower interest rates than what they locked in when they first borrowed. With rates available through Nook starting at 5.99% p.a., the gap between what you're paying now and what you could be paying is often substantial. You can check how your rate compares against current mortgage interest rates in the Philippines to get a clearer picture.
Refinancing a Maya Bank digital home loan to a traditional bank is more straightforward than most borrowers expect. Because Maya Bank operates digitally, your loan documentation is typically well-organised and easy to pull together — which actually works in your favour when submitting a refinancing application. Banks like BPI, Security Bank, and RCBC regularly accept refinancing applications from borrowers with existing loans at digital lenders, and Nook's team handles the coordination across multiple banks simultaneously so you receive competing offers rather than a single take-it-or-leave-it quote. If you're weighing your options, our BPI housing loan requirements guide gives a useful overview of what one of the most popular refinancing destinations requires.
Nook's service is completely free to borrowers — we are compensated by the bank you ultimately choose, not by you. There are no hidden charges, no application fees, and no obligation to proceed after you see your offers. Our advisors will walk you through the full cost comparison, including any prepayment penalties your Maya Bank loan may carry and how quickly you would break even after refinancing costs. For most borrowers with a remaining balance of 2 to 5 million pesos and more than 10 years left on their loan, the math is compelling enough to act on quickly.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
Yes, refinancing from Maya Bank to an established Philippine bank is a fully available option. Traditional banks actively welcome refinancing applications from borrowers with digital lender loans, and the process follows the same path as any standard home loan refinancing — property appraisal, income verification, and loan offer comparison.
Maya Bank's loan terms may include a prepayment or early termination fee, typically applicable within the first few years of the loan. Nook will help you calculate the exact breakeven point so you know precisely how many months it takes for your monthly savings to offset any exit costs before committing to the switch.
The best rate currently available through Nook is 5.99% per annum, though the rate you qualify for depends on your loan amount, remaining term, income profile, and the bank you choose. Nook submits your application to multiple banks simultaneously so you can compare real offers side by side rather than guessing.
Most refinancing applications processed through Nook take between four and eight weeks from document submission to loan release, depending on the receiving bank's turnaround time and how quickly your property appraisal can be scheduled. Having your Maya Bank loan documents organised in advance helps speed things up considerably.
Most Philippine banks that accept refinancing applications require a minimum outstanding balance of around 500,000 to 750,000 pesos, though this varies by lender. For borrowers with balances of 2 million pesos or more, the monthly savings from refinancing are typically large enough to make the process well worth completing.
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