Thousands of Filipino homeowners are overpaying on their Metrobank home loan every month. Nook can help you compare rates and potentially switch to as low as 5.99% p.a. — for free.
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Why this matters
Metrobank is one of the Philippines' largest banks and a popular choice for home loans — but if you took out your mortgage more than two or three years ago, there's a strong chance your interest rate no longer reflects what's available in the market today. Standard Metrobank home loan rates have historically ranged from around 7% to over 10% depending on the fixing period and when you applied. Rates shown here are approximate, based on publicly available information, and subject to change — always verify the current rate directly with Metrobank or through a licensed broker.
Refinancing doesn't mean your current bank is bad — it simply means your financial situation or the market has changed since you first signed. By working with Nook, the Philippines' first digital mortgage broker, you can compare Metrobank's current refinance offering against multiple Nook partner banks in one place, with no broker fee charged to you. If a partner bank can offer you a meaningfully lower rate, Nook guides you through the entire switch process — from document preparation to bank submission. If you want to understand the full Metrobank home loan refinancing process, including timelines and what to expect, that guide is a useful starting point.
The numbers add up quickly. On a 3,000,000 peso loan with 20 years remaining, moving from an 8.50% rate down to 5.99% p.a. can save you over 3,000 pesos every single month. Over the life of the loan, that's more than half a million pesos staying in your pocket rather than going to interest. Before you decide anything, it's also worth reviewing the Metrobank housing loan eligibility requirements to understand whether refinancing with or away from Metrobank is the right fit for your situation this year.
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
Metrobank's published home loan rates typically range from around 7% to 9.5% depending on the loan amount, fixing period (1, 2, 3, or 5 years), and your borrower profile. These rates are approximate, based on publicly available information, and are subject to change without notice — you should contact Metrobank directly or use Nook to get a verified, up-to-date comparison across multiple lenders. Nook's best available refinance rate is currently 5.99% p.a. through its panel of partner banks.
Yes — refinancing to a new bank is completely legal and straightforward in the Philippines, and many borrowers do it to secure a lower interest rate. The process involves your new lender paying off your existing Metrobank loan balance, with you then making payments to the new bank under the new terms. Nook handles the coordination between both sides, making the switch as seamless as possible at no cost to you.
Metrobank, like most Philippine banks, may charge a pre-termination or early settlement fee if you pay off your loan during a fixed-rate period — this is typically a percentage of the outstanding balance. It's important to check your original loan agreement or call Metrobank directly to confirm what fees apply to your specific loan. Nook's team can help you factor in any exit costs when calculating whether refinancing still makes financial sense for you.
A typical home loan refinance in the Philippines takes between 30 and 60 working days from complete document submission to loan release, though timelines vary by bank and the complexity of the application. Delays are often caused by incomplete documents or slow title verification, so preparing your paperwork thoroughly upfront saves significant time. Nook provides a clear checklist and dedicated support to keep your application moving.
Yes — Nook's service is 100% free to the borrower. Nook is compensated by the partner bank if and when your loan is successfully disbursed, similar to how insurance brokers operate. You get access to multiple lender comparisons, professional guidance, and application support without paying any broker or consultancy fee out of pocket.
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