Thousands of Filipino homeowners with Metrobank home loans are paying 7% to 9% interest or more — when they could be paying as low as 5.99% p.a. through a Nook partner bank. Find out how much you could save.
METROBANK REFINANCE SAVINGS ESTIMATE
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Why this matters
Metrobank is one of the Philippines' largest and most trusted banks, and many Filipinos took out their home loans with Metrobank years ago when rates seemed reasonable. But standard re-pricing cycles mean your rate may have crept up significantly since you first signed — and what felt like a competitive deal at the time may now be costing you tens of thousands of pesos more than necessary every year. Based on publicly available information, Metrobank home loan rates for refinancing or re-pricing typically range from around 7% to 9.5% p.a. for standard fixed-rate terms, though these figures are approximate and subject to change. You should always verify the current rate directly with Metrobank before making any decisions.
Refinancing your Metrobank home loan means transferring your outstanding balance to a new lender — one offering a lower interest rate. With Nook partner banks offering rates from as low as 5.99% p.a., the difference on a ₱3,000,000 loan balance can translate to thousands of pesos in monthly savings and hundreds of thousands over the remaining life of your loan. If you're curious about whether the switch makes financial sense for your specific situation, our detailed guide on whether Metrobank refinancing is worth it walks through the key trade-offs, including any applicable cancellation fees or penalties from your current loan.
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We compare verified, live rates across multiple partner banks — so you're not guessing at promotional tiers or outdated figures. Rather than approaching each bank individually (which is time-consuming and can result in multiple hard credit inquiries), Nook streamlines the entire process: from eligibility check to document submission to bank selection. If you want a full picture of the transfer process before you start, our transfer rates and savings guide covers every step in detail. Note that all rates shown on this page are indicative and subject to change — final rates will depend on your loan profile, chosen bank, and prevailing market conditions at the time of application.
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, refinancing your Metrobank home loan to another bank is entirely legal and common in the Philippines. The process involves your new lender paying off your outstanding Metrobank balance, after which you make monthly payments to the new bank at the agreed lower rate. You should check your current Metrobank loan agreement for any early settlement fees or lock-in periods before proceeding.
Through Nook's partner banks, refinance rates currently start from 5.99% p.a. — significantly lower than the 7% to 9.5% range typically associated with standard Metrobank home loan rates. The exact rate you qualify for will depend on your loan amount, remaining term, property value, and credit profile. All rates are subject to change, so we recommend getting a personalised comparison through Nook to see your actual options.
The typical refinancing timeline in the Philippines runs between 30 to 60 banking days from completed application to loan release, though this can vary by lender and the completeness of your documentation. Nook helps you prepare your documents upfront and submit to the right bank, which can significantly reduce back-and-forth delays. Your Metrobank loan continues as normal during this period — you simply stop paying Metrobank once the new bank has settled the outstanding balance.
Standard refinancing documents typically include a valid government-issued ID, your latest three to six months of payslips or audited financial statements (for self-employed), your most recent Certificate of Employment, the Transfer Certificate of Title (TCT) of your property, and your current loan statement from Metrobank showing the outstanding balance. Nook provides a complete personalised checklist once you start your application, so nothing gets missed.
Yes — Nook's mortgage brokering service is 100% free to borrowers. Nook is compensated by the partner bank when a loan is successfully processed, meaning you get expert guidance, rate comparisons, and application support at no cost to you. There are no hidden fees charged by Nook at any stage of the process.
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