Maya Bank vs Tonik: Home Loan Overview
Both Maya Bank and Tonik entered the Philippine market as fully digital, app-based banks licensed by the Bangko Sentral ng Pilipinas (BSP). Their core appeal is convenience, speed, and competitive rates — but their home loan offerings differ significantly in maturity and scope.
Tonik has positioned itself more aggressively in the secured lending space, offering its Tonik Home Loan product designed for property purchase and refinancing. Maya Bank (formerly PayMaya Bank) is still expanding its lending portfolio, and its home loan product is more limited in availability compared to traditional banks or even Tonik.
If you're considering either bank for a home loan refinance, it's worth comparing them not just against each other, but also against what traditional banks can offer through a broker like Nook.
Interest Rate Comparison
| Feature | Maya Bank | Tonik |
|---|---|---|
| Advertised Home Loan Rate | Not publicly listed (limited product availability) | From ~6.99% p.a. (fixed period) |
| Rate Type | N/A | Fixed for 1–3 years, then repricing |
| Best Available via Nook | 5.99% p.a. — across multiple partner banks | |
Tonik's published home loan rates tend to start around 6.99% p.a. for an initial fixed period, which is competitive but still higher than the 5.99% p.a. that Nook can access through its panel of partner banks. Maya Bank does not currently have a widely available home loan rate card, making direct comparison difficult.
For borrowers already paying 8%, 9%, or even 10% on an existing home loan, refinancing through Nook — regardless of which digital bank you're considering — could result in dramatic monthly savings.
Sample Savings Calculation
Let's say you have an outstanding home loan of 3,500,000 with 20 years remaining, currently at 8.5% p.a.:
| Scenario | Rate | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| Current Loan (typical) | 8.50% | ~30,430 | ~3,803,200 |
| Tonik (estimated) | 6.99% | ~27,130 | ~3,011,200 |
| Nook Best Rate | 5.99% | ~25,070 | ~2,516,800 |
Refinancing to Tonik's estimated rate could save you roughly 3,300 per month. But refinancing through Nook at 5.99% could save you over 5,360 per month — that's more than 1,286,400 in total interest savings over the life of the loan. Nook's service is completely free to borrowers.
Loan Terms and Eligibility
| Feature | Maya Bank | Tonik |
|---|---|---|
| Loan Amount Range | Limited / Not publicly specified | Up to 5,000,000 |
| Loan Tenure | Not publicly specified | Up to 20 years |
| Eligible Borrowers | Filipino citizens (app-based) | Filipino citizens and some OFWs |
| Application Process | App-based / digital | App-based / digital |
| Processing Time | Not specified | Faster than traditional banks |
| Collateral Required | Not specified | Yes (property being financed) |
Tonik's home loan product caps at around 5,000,000, which may be insufficient for borrowers with higher-value properties, particularly in Metro Manila, Cebu, or Davao. Traditional banks accessed through Nook typically offer loan amounts up to 10,000,000 or more, with terms of up to 25 years.
You can also explore how other digital lenders compare — for instance, see our Asia United Bank vs Tonik home loan comparison to see how a mid-sized traditional bank stacks up against Tonik's digital offering.
Fees and Charges
| Fee | Maya Bank | Tonik |
|---|---|---|
| Processing Fee | Not publicly listed | May apply |
| Appraisal Fee | Not specified | May apply |
| Early Settlement Penalty | Not specified | May apply within fixed period |
| Broker Fee (via Nook) | Free — Nook charges borrowers nothing | |
One major advantage of using Nook to refinance is that there are zero broker fees. Nook is compensated by the bank, not the borrower. You get access to multiple competitive offers, professional guidance, and a fully managed application — at no cost to you.
Digital Experience
Both Maya Bank and Tonik are mobile-first institutions, and their digital UX is generally superior to traditional banks for day-to-day banking. However, home loans are complex products that benefit from human guidance, even when the application is digital.
Tonik's loan application is conducted via its app, which is straightforward for tech-comfortable users. Maya Bank's lending products are still evolving. Neither offers the breadth of lender choice that a mortgage broker like Nook can provide — Nook compares across multiple banks simultaneously so you don't have to apply to each one individually.
If you're also researching other digital bank combinations, our CIMB vs PBCOM home loan comparison covers another pair of digital-leaning lenders worth considering.
Which Type of Borrower Suits Each Bank?
Maya Bank may suit you if:
- You're already a Maya ecosystem user and want consolidated banking
- You're looking for smaller, personal lending products
- You prefer a fully digital experience and are willing to wait for their home loan products to mature
Tonik may suit you if:
- You want a fully digital home loan experience with a licensed BSP bank
- Your loan requirement is under 5,000,000
- You value speed and simplicity over the absolute lowest rate
Nook refinancing may suit you if:
- You want the lowest possible rate (from 5.99% p.a.)
- You have an existing home loan and want to reduce your monthly payments
- You want to compare multiple banks at once without multiple applications
- You don't want to pay any broker or service fees
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Does Maya Bank offer home loans in the Philippines?
Maya Bank (formerly PayMaya Bank) is a BSP-licensed digital bank that primarily focuses on payments, savings, and personal lending. Its home loan product is not widely publicly listed at this time, making it difficult to compare directly with traditional mortgage lenders. If you're looking for a home loan or refinancing option, Nook can connect you with banks offering rates from 5.99% p.a. at no cost to you.
What is Tonik's home loan interest rate?
Tonik's home loan rates are estimated to start from around 6.99% p.a. for a fixed period, after which the rate is repriced. Terms, conditions, and eligibility requirements apply. Rates may vary depending on your profile and loan amount. For comparison, Nook can access rates as low as 5.99% p.a. from its panel of partner banks.
Can I refinance my home loan to Tonik?
Tonik does offer refinancing options for eligible borrowers, but its maximum loan amount of around 5,000,000 may not cover all refinancing needs. Additionally, its rates may not be the lowest available. Refinancing through Nook allows you to compare Tonik alongside multiple traditional banks so you can choose the most competitive offer for your situation.
Is it safe to get a home loan from a digital bank like Maya or Tonik?
Yes. Both Maya Bank and Tonik are licensed by the Bangko Sentral ng Pilipinas (BSP) and are regulated under the same framework as traditional banks. Your deposits are also covered by the Philippine Deposit Insurance Corporation (PDIC). However, their home loan products may be more limited in scope compared to established mortgage lenders, so it's worth comparing all available options.
How does Nook compare to applying directly to Maya Bank or Tonik?
When you apply directly to a single bank, you only see that bank's offer. Nook compares multiple banks at once and submits your application to the lender with the best rate for your profile. The service is completely free to borrowers — Nook is paid by the bank, not by you. This means you get more options, expert guidance, and potentially a lower rate without any additional cost.
How much can I save by refinancing through Nook vs staying with a digital bank?
It depends on your current rate and loan balance. For example, on a 3,500,000 loan with 20 years remaining, moving from 8.5% to Nook's best rate of 5.99% could save you over 5,300 per month and more than 1,280,000 in total interest over the loan term. Use Nook's free refinancing calculator or speak to a Nook advisor to get a personalized estimate.
What loan amounts does Tonik support for home loans?
Tonik's home loan product supports amounts up to approximately 5,000,000. For borrowers who need larger loan amounts — common in Metro Manila, Cebu, or for higher-value properties — traditional banks accessed through Nook can accommodate loans of 10,000,000 or more, with terms of up to 25 years.