Many Metrobank home loan borrowers are locked into rates of 8% or higher — but the best refinance rate available today is just 5.99% p.a. Nook helps you compare every major bank for free and handles the switch from start to finish.
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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 it made sense. But mortgage rates change — and if you haven't revisited your rate recently, there's a strong chance you're overpaying. Based on publicly available information, standard Metrobank home loan rates typically range from 7% to 10% depending on the fixing period and your loan profile. These figures are approximate and subject to change, so always verify the current rate directly with the bank. What we do know is that Nook partner banks are currently offering verified rates as low as 5.99% p.a. — a meaningful gap that can translate to hundreds of thousands of pesos over the life of your loan. If you want a deeper look at what switching away from Metrobank could mean for your finances, our complete guide to switching banks and saving on interest walks through the numbers in detail.
Refinancing your Metrobank home loan doesn't mean you have to do all the legwork yourself. Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We submit your application to multiple partner banks simultaneously, so you get competing offers without the hassle of visiting branch after branch. Our partner banks provide verified, up-to-date rates — unlike general rate lists that may already be outdated by the time you read them. This is a key advantage over approaching any single bank on your own, whether that's Metrobank or anyone else. You get real numbers, real comparisons, and a dedicated home loan specialist to guide you through every step.
The refinancing process in the Philippines typically takes 4 to 8 weeks from application to loan release, and Nook manages the coordination between your current bank and your new lender. Common concerns like early repayment fees, documentary requirements, and valuation costs are all things our team helps you navigate upfront — so there are no surprises at the end. Whether you're currently with Metrobank or considering switching to a Metrobank-affiliated product, the smartest move is to compare your options first. Use Nook's free assessment to see exactly how much you could save before making any decisions. Note that all interest rates referenced on this page are subject to change and you should verify current rates before proceeding.
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 standard home loan rates generally range from around 7% to 10% p.a. depending on the loan term, fixing period, and your credit profile — but these figures are approximate and subject to change at any time. For the most accurate and current rates, you should contact Metrobank directly or speak with a Nook specialist who can compare Metrobank's offering against verified rates from our partner banks, which currently start as low as 5.99% p.a.
Yes, you can refinance away from Metrobank to any bank that accepts refinancing applications — and this is one of the most common ways Filipino homeowners reduce their monthly payments. The process involves your new lender paying off your outstanding Metrobank balance and issuing you a new loan at a lower rate. Nook can help you identify which partner banks offer the best rates for your specific loan amount and remaining term, and we handle the coordination between both banks on your behalf.
Metrobank, like most Philippine banks, may charge an early repayment or pre-termination fee if you refinance during a fixed-rate period — though policies vary and fees have evolved over time. It's important to check your current loan agreement or call Metrobank directly to confirm whether any penalty applies and how much it would be. Nook factors potential exit costs into your savings calculation so you can make a fully informed decision before committing to a switch.
The refinancing process in the Philippines typically takes between 4 and 8 weeks from the time your complete documents are submitted to your new lender. This includes property appraisal, credit evaluation, loan approval, and the final release of funds to pay off your Metrobank balance. Nook's team manages the timeline and follows up with all parties on your behalf, which helps avoid delays that are common when borrowers handle the process on their own. For a full breakdown of what to expect, see our guide on why and how banks refinance home loans.
Yes — Nook's mortgage brokering service is 100% free to borrowers. Nook is compensated by the partner bank when your loan is successfully processed, which means you get expert guidance, document management, and access to multiple lender offers at no cost to you. There are no hidden fees, no application charges, and no obligation to proceed after your free savings assessment.
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