If you took out a home loan with Maya Bank, you may be paying significantly more than necessary. Nook helps you compare refinancing options from traditional and digital banks — for free — so you can lock in a lower rate today.
MAYA BANK REFINANCING SAVINGS
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Why this matters
Maya Bank entered the Philippine home loan market as part of the country's digital banking revolution, appealing to tech-savvy borrowers with a streamlined online experience. But being digital-first doesn't always mean lowest-rate-first. Many Maya Bank home loan holders find themselves locked into rates between 8% and 9.5% after their initial fixed period ends — rates that haven't kept pace with what traditional banks are now offering to refinancers. If your loan has been running for two or more years, there's a strong chance you're eligible to refinance at a meaningfully lower rate.
Refinancing away from Maya Bank works much like any standard home loan transfer. You apply with a new lender — through Nook, we compare options across BDO, BPI, Security Bank, RCBC, and more — and that lender pays out your existing Maya Bank balance. You then repay the new lender at your agreed lower rate. The process typically takes six to ten weeks, and Nook handles the paperwork coordination at no cost to you. You can check current mortgage interest rates in the Philippines to see how today's refinancing rates compare to what you're paying now.
One consideration unique to digital bank borrowers is documentation. Because Maya Bank is fully digital, some of your loan records may only exist in-app or via email — so it pays to download your loan statements and amortization schedule before you begin the refinancing process. Nook's team will guide you through exactly what you need. With rates as low as 5.99% p.a. available through our panel of lenders, the savings on a 3,000,000-peso loan can exceed 550,000 pesos over the remaining life of your loan. That's real money back in your pocket — from a completely free service.
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, absolutely. Refinancing from a digital bank like Maya to a traditional Philippine bank is a standard process. Lenders like BPI, Security Bank, and BDO regularly accept refinancing applications from Maya Bank borrowers, provided your property title is clean and your loan balance meets their minimum requirements.
Most home loans in the Philippines include a pre-termination or early settlement fee if you refinance within the fixed-rate period — typically 2% to 3% of the outstanding balance. Check your Maya Bank loan agreement for the exact terms. Once your fixed period has ended, you can usually refinance without penalty, which is often the ideal time to act.
Since Maya Bank operates digitally, your loan statements and amortization schedule should be accessible through the Maya app or by requesting them via their in-app support or email. It's a good idea to download at least 12 months of statements and your most recent outstanding balance certificate before applying to refinance.
Through Nook, the lowest available refinancing rate is currently 5.99% p.a. on a fixed-rate term. The exact rate you qualify for will depend on your remaining loan balance, property value, and credit history. Most borrowers refinancing from rates of 8% or higher see significant monthly savings — you can compare today's Philippine mortgage rates to get a clearer picture.
The refinancing process typically takes six to ten weeks from application to loan release, depending on how quickly documents are gathered and the new lender's processing timeline. Nook's service is completely free for borrowers — we are compensated by the lending bank, not by you. The main upfront costs you may encounter are appraisal fees and documentary stamp taxes charged by the new lender, which are standard across all Philippine home loan refinancing transactions.
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