Maya Bank vs Sterling Bank: Home Loan Overview
Maya Bank is the digital banking arm of Maya Philippines (formerly PayMaya), licensed by the Bangko Sentral ng Pilipinas (BSP) as a digital bank. Sterling Bank of Asia is a thrift bank that has historically served niche segments of the Philippine financial market. Neither institution is among the dominant home loan providers — such as BDO, BPI, Metrobank, or Security Bank — which means borrowers comparing these two should also consider whether a broader market search would yield a better deal.
It's worth noting that when comparing smaller or newer lenders in this space, the gap in product depth versus established banks can be significant. For a similar perspective on digital and alternative lenders, see our Asia United Bank vs Tonik home loan comparison, which covers another pairing of traditional and newer-era lenders.
Interest Rates
| Feature | Maya Bank | Sterling Bank | Nook Best Rate |
|---|---|---|---|
| Starting Interest Rate | Not publicly listed for home loans | Not publicly listed for home loans | 5.99% p.a. |
| Rate Type | Variable / Fixed (product-dependent) | Variable / Fixed (product-dependent) | Fixed options available |
| Repricing Period | Varies by product | Varies by product | 1, 3, or 5 years |
Because neither Maya Bank nor Sterling Bank publicly publishes detailed home loan rate schedules in the way that BDO, BPI, or Security Bank do, Filipino homeowners are often left without a clear basis for comparison. This lack of transparency is itself a reason to be cautious. With Nook, you receive actual rate quotes from multiple competing lenders — so you always know exactly what you're being offered and why.
Monthly Payment Comparison
To illustrate the real-world impact of interest rates, here's a comparison of estimated monthly payments on a 3,000,000 home loan over 20 years at different rate scenarios:
| Interest Rate | Scenario | Monthly Payment (approx.) | Total Interest Paid (approx.) |
|---|---|---|---|
| 5.99% p.a. | Nook Best Rate | 21,470 | 2,152,800 |
| 7.50% p.a. | Typical bank rate | 24,165 | 2,799,600 |
| 9.00% p.a. | Higher-rate scenario | 26,992 | 3,478,080 |
At 9.00% versus 5.99%, a borrower with a 3,000,000 loan pays approximately 1,325,280 more in interest over 20 years. That's money that could go toward your children's education, retirement savings, or paying off your loan early.
Loan Amounts and Terms
| Feature | Maya Bank | Sterling Bank |
|---|---|---|
| Minimum Loan Amount | Not widely published | Not widely published |
| Maximum Loan Amount | Not widely published | Not widely published |
| Loan Term | Up to 20 years (estimated) | Up to 20 years (estimated) |
| Maximum LTV Ratio | Up to 80% (estimated) | Up to 80% (estimated) |
In contrast, Nook's partner banks — which include BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, and others — offer loan amounts from 1,500,000 up to 10,000,000 or more, with terms of 15 to 25 years and LTV ratios that vary by lender and property type.
Fees and Charges
| Fee | Maya Bank | Sterling Bank | Notes |
|---|---|---|---|
| Processing Fee | Not publicly listed | Not publicly listed | Major banks typically charge 5,000–10,000 |
| Appraisal Fee | Not publicly listed | Not publicly listed | Typically 3,000–6,000 depending on property |
| Documentary Stamp Tax | Borrower's account | Borrower's account | Standard across all Philippine lenders |
| Early Repayment Penalty | Not publicly listed | Not publicly listed | Varies widely — always ask before signing |
| Nook Broker Fee | N/A | N/A | Nook charges borrowers nothing — 100% free |
Fees can add up quickly in a refinance. It's important to calculate the total cost of refinancing, not just the headline rate. If you're also comparing digital-first and alternative lenders for their fee structures, our CIMB vs PBCOM home loan comparison provides useful context on how newer market entrants price their products.
Eligibility Requirements
| Requirement | Maya Bank | Sterling Bank |
|---|---|---|
| Minimum Age | 21 years old | 21 years old |
| Maximum Age at Loan Maturity | Typically 65 | Typically 65 |
| Employment Status | Employed or self-employed | Employed or self-employed |
| Minimum Income | Not publicly listed | Not publicly listed |
| OFW Eligibility | Limited information available | Limited information available |
Most Philippine banks accept both locally employed and OFW borrowers, though documentation requirements differ. Nook's team can help you identify which lenders are most OFW-friendly and which have the fastest approval timelines for your specific profile.
Digital Experience and Application Process
Maya Bank, being a licensed digital bank, is expected to offer a more streamlined digital onboarding process compared to traditional thrift banks like Sterling Bank. Maya Bank's parent company has invested heavily in fintech infrastructure, which may translate into faster document submission, real-time updates, and app-based loan management.
Sterling Bank of Asia operates more traditionally, meaning borrowers may need to visit a branch or submit physical documents. This can add days or weeks to the processing time.
However, for a home loan refinance, the application process is just one part of the equation. Speed matters, but so does getting the best possible rate and terms. Nook's digital platform combines both: you submit once, and Nook coordinates with multiple lenders simultaneously — saving you time and maximizing your chances of approval at the lowest rate.
Should You Refinance With Maya Bank or Sterling Bank?
If you're currently paying 7% or more on your existing home loan, refinancing is almost certainly worth exploring — regardless of which bank you end up with. The key question is whether Maya Bank or Sterling Bank can match the competitive rates offered by larger banks in Nook's network.
Given the limited public information on home loan products from both institutions, and the fact that neither is a primary market leader in mortgage lending, most homeowners would be better served by comparing a wider pool of lenders before making a decision. This is exactly what Nook does — for free.
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Compare My Options →Frequently Asked Questions
Does Maya Bank offer home loans for refinancing?
Maya Bank is a BSP-licensed digital bank that offers personal and business financial products, but its home loan and refinancing products are not as prominently marketed as those of larger banks like BDO, BPI, or Security Bank. If you're considering Maya Bank for a refinance, it's advisable to compare their offer against Nook's network of lenders to ensure you're getting the most competitive rate available.
Is Sterling Bank of Asia a legitimate lender for home loans?
Yes, Sterling Bank of Asia is a BSP-regulated thrift bank operating in the Philippines. However, it is not among the most prominent home loan providers in the country. Borrowers interested in Sterling Bank should request a full loan illustration — including all fees and the effective interest rate — before making any decisions, and compare it against offers from Nook's partner banks.
What is the current best home loan refinance rate in the Philippines?
Through Nook, eligible homeowners can access refinance rates as low as 5.99% per annum. This is significantly lower than the 7% to 10% that many Filipino homeowners are currently paying on their existing home loans. The actual rate you qualify for will depend on your loan amount, loan-to-value ratio, income, and credit profile.
How much can I save by refinancing my home loan?
The savings depend on your current rate, loan balance, and remaining term. As an example, on a 3,000,000 home loan over 20 years, refinancing from 9% down to 5.99% could save you approximately 1,325,280 in total interest payments. Even refinancing from 7.5% to 5.99% saves around 646,800 over the life of the loan — a significant amount that can be redirected to savings or other financial goals.
How does Nook compare Maya Bank and Sterling Bank home loans?
Nook is the Philippines' first digital mortgage broker. We work with a network of partner banks and lenders to find the best refinance rate for your specific situation. Rather than applying to Maya Bank and Sterling Bank separately, you can submit one application through Nook and receive competing offers — saving you time and ensuring you don't miss a better deal elsewhere.
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 lending bank when a loan is successfully placed — meaning you get expert guidance, market-wide comparison, and full application support at zero cost to you.
What documents do I need to refinance my home loan in the Philippines?
Standard documents for a home loan refinance in the Philippines include a valid government-issued ID, proof of income (latest ITR, payslips, or audited financial statements for the self-employed), your existing loan's statement of account, a copy of the Transfer Certificate of Title (TCT), and a recent tax declaration. Nook's team will guide you through the exact requirements for each lender.
How long does the refinancing process take in the Philippines?
The refinancing process typically takes 4 to 8 weeks from application to loan release, depending on the lender, property appraisal schedules, and the completeness of your documents. Digital-first banks like Maya Bank may offer faster document processing, but approval timelines also depend on internal credit review processes. Nook helps ensure your documents are complete from the start, minimizing delays.