Maya Bank vs UnionBank: Home Loan Overview
Maya Bank is a digital-first bank in the Philippines known for its consumer lending, savings, and payments products. However, as of the time of writing, Maya Bank does not offer a standard home loan or mortgage refinancing product. Their lending products are focused on personal loans and business credit, not secured real estate financing.
UnionBank, on the other hand, is one of the Philippines' leading commercial banks and a Nook partner bank with a full-featured home loan product. UnionBank offers both purchase and refinancing home loans to a wide range of borrower profiles — including private employees, government workers, OFWs, self-employed professionals, and BPO workers.
This distinction is critical: if you are shopping for a home loan, only one of these two banks can actually serve you.
Interest Rate Comparison
| Feature | Maya Bank | UnionBank |
|---|---|---|
| 1-Year Fixed Rate | Not Available | 7.00% p.a. |
| Home Equity Rate | Not Available | 7.00% p.a. |
| Loan Purpose: RFO / Reselling | Not Available | ✔ Supported |
| Loan Purpose: Refinancing | Not Available | ✔ Supported |
| Loan Purpose: Renovation | Not Available | ✔ Supported |
| Loan Purpose: New Construction | Not Available | ✔ Supported |
| Loan Purpose: Pre-Selling | Not Available | ✔ Supported |
| Loan Purpose: Foreclosed Properties | Not Available | ✔ Supported |
UnionBank's 1-year fixed rate of 7.00% p.a. is competitive within the Philippine market. For context, many Filipino homeowners are currently paying between 7% and 10% on their existing home loans — meaning refinancing to UnionBank through Nook could meaningfully reduce your monthly payments.
Monthly Payment Estimate: UnionBank at 7.00%
To illustrate the value of UnionBank's home loan, here are sample monthly payment estimates at 7.00% p.a. across common loan amounts and a 20-year term:
| Loan Amount | Term | Rate | Est. Monthly Payment |
|---|---|---|---|
| 2,000,000 | 20 years | 7.00% | 15,506 |
| 3,500,000 | 20 years | 7.00% | 27,136 |
| 5,000,000 | 20 years | 7.00% | 38,765 |
| 7,500,000 | 20 years | 7.00% | 58,148 |
These figures are estimates based on a fixed rate for the full term and are intended for illustrative purposes. Actual amortization will vary based on your fixing period, repricing schedule, and loan structure. Interest rates are subject to change — verify current rates with Nook or UnionBank directly.
Borrower Eligibility: UnionBank Home Loan
UnionBank's home loan through Nook accepts a wide range of borrower types, making it one of the more accessible options in the market:
- Employment Types: Private employees, Government employees, BPO workers, OFWs and Seafarers, Self-employed individuals, Professionals
- Minimum Monthly Income: 30,000
- Maximum Debt-to-Income (DTI) Ratio: 50%
This broad eligibility means that even if you are an OFW or self-employed borrower — groups that are sometimes underserved by traditional lenders — UnionBank may still approve your application. You can also compare UnionBank's eligibility against another government-backed option in our Pag-IBIG vs UnionBank home loan comparison.
Why Apply Through Nook?
Nook is the Philippines' first digital mortgage broker, and applying for a UnionBank home loan through Nook costs you absolutely nothing. Nook's service is 100% free to the borrower. Instead of navigating complex bank requirements on your own, Nook helps you:
- Compare rates across multiple partner banks in one place
- Get expert guidance on which loan structure suits your financial profile
- Submit your application digitally — no branch visits required
- Access the best available rates, including UnionBank's 7.00% p.a. fixed rate
For borrowers already holding a UnionBank loan and curious how it stacks up against other lenders, our PSBank vs UnionBank comparison breaks down how these two banks differ on rates, fees, and borrower requirements.
Refinancing: Can Maya Bank Help You Lower Your Rate?
If you are currently paying a high interest rate on an existing home loan and looking to refinance, Maya Bank is not an option — they do not offer mortgage refinancing. UnionBank, however, supports refinancing as a loan purpose and offers a 1-year fixed rate of 7.00% p.a. through Nook.
To put this in perspective: if you currently have a 5,000,000 home loan at 9.50% p.a. over 20 years, your monthly payment is approximately 46,607. Refinancing to UnionBank at 7.00% would bring that down to approximately 38,765 — a monthly saving of around 7,842, or more than 94,100 per year.
This is why refinancing through Nook can be one of the highest-return financial moves available to Filipino homeowners. And since the service is free, there is no reason not to explore it.
Final Comparison Summary
| Criteria | Maya Bank | UnionBank |
|---|---|---|
| Home Loan Available | No | Yes |
| Refinancing Available | No | Yes |
| Fixed Interest Rate | N/A | 7.00% p.a. |
| Min. Monthly Income | N/A | 30,000 |
| OFW / Self-Employed Accepted | N/A | Yes |
| Apply Through Nook (Free) | No | Yes |
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Compare My Options →Frequently Asked Questions
Does Maya Bank offer a home loan in the Philippines?
As of the time of writing, Maya Bank does not offer a standard home loan or mortgage refinancing product. Their lending products are focused on personal loans and business credit. If you are looking for a home loan in the Philippines, Maya Bank is not currently a viable option. Consider UnionBank, which offers home loans starting at 7.00% p.a. through Nook.
What is UnionBank's home loan interest rate?
UnionBank offers a 1-year fixed home loan rate of 7.00% p.a. This rate is available through Nook, the Philippines' first digital mortgage broker, at no cost to the borrower. Rates are subject to change, so it's best to verify the current rate directly through Nook.
Can I refinance my home loan with UnionBank through Nook?
Yes. UnionBank supports home loan refinancing as a loan purpose, and you can apply through Nook for free. Nook will help you assess whether refinancing to UnionBank's 7.00% p.a. rate makes financial sense based on your current loan balance, remaining term, and existing rate. Most Filipino homeowners are paying between 7% and 10% on their home loans, so there is often significant savings potential.
Who qualifies for a UnionBank home loan?
UnionBank accepts a broad range of borrower types including private employees, government workers, BPO employees, OFWs and seafarers, self-employed individuals, and professionals. The minimum monthly income requirement is 30,000, and the maximum debt-to-income ratio allowed is 50%. This makes UnionBank one of the more accessible home loan options in the Philippine market.
How much can I save by refinancing to UnionBank at 7.00%?
Savings depend on your current rate and loan balance. For example, a borrower with a 5,000,000 loan at 9.50% p.a. over 20 years pays approximately 46,607 per month. Refinancing to UnionBank at 7.00% p.a. would reduce that to approximately 38,765 per month — a saving of around 7,842 monthly or more than 94,100 annually. Use Nook's free service to get a personalized refinancing estimate.
Is Nook's mortgage brokering service really free?
Yes. Nook's service is 100% free to the borrower. Nook earns a referral fee from partner banks when a loan is successfully facilitated — this does not affect the rate you receive or add any cost to your loan. You get access to competitive rates and expert guidance at zero cost.
What loan purposes does UnionBank support?
UnionBank supports a wide range of home loan purposes including Ready for Occupancy (RFO) purchase, pre-selling properties, reselling, new construction, renovation, home equity, and refinancing. This makes it a flexible option whether you are buying a new home, building one, or looking to unlock equity from your existing property.