Thousands of Filipino homeowners with Metrobank home loans are paying more than they need to. Switching to a lower rate through Nook could save you over 58,000 pesos every year — and our service is completely free.
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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. But if your loan is more than a few years old, there's a good chance you're locked into a rate that no longer reflects what's available in today's market. Metrobank's standard home loan rates typically range from 7% to 10% per annum depending on fixing period and loan tenure — and with Nook's best available refinance rate at 5.99% p.a., the gap between what you're paying and what you could be paying is often significant. Note: Rates shown are approximate, based on publicly available information, and are subject to change. Always verify current rates directly with the bank.
Refinancing your Metrobank home loan means taking out a new loan — potentially with a different bank — to pay off your existing one, ideally at a lower interest rate. The monthly savings can be substantial: on a 3,000,000 peso loan with a remaining term of 20 years, moving from 8.50% to 5.99% could reduce your monthly repayment by over 3,000 pesos. That's real money back in your pocket every month. If you want to understand the full Metrobank home loan refinancing process and what rates to expect, we've put together a detailed guide to help you prepare. Nook works with multiple partner banks to find you the best verified rate available — for free.
The good news is that refinancing doesn't have to be complicated. Nook handles the comparison, paperwork coordination, and bank negotiations on your behalf, at zero cost to you. Our partner banks offer competitive rates that have been verified and are ready to apply — unlike publicly listed rates that may not reflect actual approval offers. If you're unsure whether you qualify, it helps to review the Metrobank housing loan requirements and eligibility criteria as a starting point. Most homeowners who refinance through Nook complete the process in a matter of weeks and begin saving immediately on their next billing cycle.
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, absolutely. Refinancing simply means paying off your existing Metrobank loan with a new loan from another lender that offers a better rate. Nook works with multiple Philippine banks and can help you find the most competitive offer available based on your loan amount, remaining term, and financial profile.
It depends on your current rate, outstanding balance, and remaining loan term. As a rough example, refinancing a 3,000,000 peso loan from 8.50% to 5.99% over 20 years could save you more than 3,000 pesos per month and over 550,000 pesos in total interest. Use Nook's free calculator to get a personalised estimate based on your actual figures.
Metrobank's home loan rates typically range from 7% to 10% per annum depending on the fixing period, loan amount, and borrower profile. These figures are based on publicly available information and are subject to change — we recommend contacting Metrobank directly or speaking with a Nook advisor to get the most current and accurate rates for your situation.
Metrobank, like most Philippine banks, may charge a prepayment penalty if you refinance during a fixed-rate lock-in period. This fee is typically a percentage of the outstanding loan balance. It's important to check your loan contract for the exact terms, and a Nook advisor can help you calculate whether the long-term savings from refinancing outweigh any early exit costs.
Nook is the Philippines' first digital mortgage broker and our service is 100% free to borrowers. We compare offers from multiple partner banks, handle the application process, and help you secure the best available rate without any fees or obligations. You simply share your loan details, and we do the heavy lifting to find you a better deal.
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