Thousands of Filipino homeowners with Metrobank home loans are quietly overpaying every month. Refinancing through Nook could cut your monthly payment by over 4,000 pesos — at zero cost to you.
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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 there years ago when they had fewer options to compare. But home loan interest rates have shifted significantly since then, and if you locked in a rate of 8% or higher — which was common for fixed periods that have since repriced — you may now be paying well above what the market offers. Based on publicly available information, Metrobank's standard home loan rates typically range from around 7% to 10% depending on the fixing period and your loan profile, though these rates are approximate and subject to change without notice. If your current rate sits at the higher end of that range, the gap between what you're paying and what's available today could translate to tens of thousands of pesos in unnecessary interest every year.
Refinancing your Metrobank home loan doesn't have to mean starting from scratch. Through Nook, the Philippines' first digital mortgage broker, you can compare verified offers from multiple partner banks in one place — completely free. Nook's partner banks compete for your loan, which means you get access to rates as low as 5.99% p.a. without the legwork of approaching each lender individually. If you want to understand how your current Metrobank payments stack up, the Metrobank housing loan calculator can help you model your existing repayments before you compare alternatives.
The switching process is more straightforward than most homeowners expect. Once Nook matches you with the best available offer, the new bank handles the take-out of your existing Metrobank loan, and you simply begin paying the new lender at the lower rate. Nook guides you through every document, every step, and every decision — at no charge to the borrower. For a deeper look at what the refinancing timeline looks like and what documents you'll need, see our full guide on Metrobank home loan refinancing rates and process. Rates shown on this page are illustrative and based on publicly available market data; always verify current rates directly with your lender or through Nook before making a financial decision.
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
Based on publicly available information, Metrobank's home loan rates generally range from approximately 7% to 10% per annum depending on the fixing period selected and your individual borrower profile. These rates are approximate and subject to change, so you should contact Metrobank directly or use Nook to compare your current rate against live offers from multiple banks. If your rate is sitting above 7.5%, refinancing is likely worth exploring.
Yes — refinancing your Metrobank loan with another bank is entirely legal and straightforward in the Philippines. The new bank pays off your outstanding Metrobank balance and you continue repayments with the new lender at the lower rate. Through Nook, you can compare offers from BPI, BDO, Security Bank, RCBC, and other partner banks to find the best deal without approaching each one separately.
On a 3,000,000 peso loan with a remaining term of 20 years, moving from a rate of 8.50% to Nook's best available rate of 5.99% could reduce your monthly payment by over 3,000 pesos — that's more than 36,000 pesos in savings per year. Your actual savings will depend on your outstanding balance, remaining term, and the rate you qualify for, so it's worth running the numbers for your specific situation.
There may be a pre-termination fee charged by Metrobank if your loan is still within a fixed-rate lock-in period — this is typically a percentage of the outstanding balance and is disclosed in your original loan agreement. There are also standard refinancing costs such as appraisal, notarial, and registration fees on the incoming bank's side. Nook's service is 100% free to you as the borrower, and your Nook advisor will help you calculate whether the total switch cost is outweighed by your long-term savings.
The end-to-end refinancing process typically takes four to eight weeks in the Philippines, depending on how quickly documents are submitted and how fast the receiving bank processes the application. Nook streamlines this by guiding you through each stage — from document collection to loan offer comparison to final release — so there are no unnecessary delays. Many borrowers find the process significantly smoother when working through a broker rather than approaching banks directly.
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