Metrobank vs BPI Home Loan: Rate Comparison
Interest rates are the single biggest driver of how much your home loan will cost over its lifetime. Below is a side-by-side rate comparison. BPI Family Savings Bank rates are verified and confirmed through Nook's partner network. Metrobank rates are approximate, based on publicly available information, and are subject to change — always verify directly with Metrobank before making a decision.
| Fixed Period | Metrobank (Approximate) | BPI Family Savings Bank (Verified) |
|---|---|---|
| 1-Year Fixed | ~7.00% – 7.50% p.a.* | 6.70% p.a. |
| 5-Year Fixed | ~7.25% – 8.00% p.a.* | 6.50% p.a. |
| Home Equity / Refi | ~7.50% – 8.50% p.a.* | 6.70% p.a. |
* Metrobank rates are approximate and based on publicly available information as of 2026. Rates are subject to change without notice. Contact Metrobank directly for current promotional offers. BPI Family Savings Bank rates are verified through Nook's partner network but are also subject to change.
Even a 0.50% to 1.00% difference in interest rate can translate into tens of thousands of pesos in savings over the life of a typical home loan. See the example below.
How Much Can You Save? A Real Numbers Example
Let's say you're refinancing a home loan of 3,500,000 pesos over a 20-year term. Here's how BPI's verified 5-year fixed rate compares to a conservative Metrobank estimate:
| Scenario | Loan Amount | Rate | Est. Monthly Payment | Total Interest (20 yrs) |
|---|---|---|---|---|
| BPI (5-Year Fixed) | 3,500,000 | 6.50% p.a. | ~26,095 | ~2,762,800 |
| Metrobank (Est. 5-Year Fixed) | 3,500,000 | ~7.50% p.a. | ~28,175 | ~3,262,000 |
| Typical Existing Loan | 3,500,000 | ~9.00% p.a. | ~31,490 | ~4,057,600 |
At BPI's 6.50% rate versus a typical existing loan at 9.00%, you could save approximately 499,200 pesos in interest over 20 years. That's money back in your pocket. Monthly payment estimates are indicative and based on standard amortization calculations. Actual payments will vary based on your specific loan terms, fees, and bank policies.
If you're currently with another bank at a high rate, see how BPI also compares against BDO to understand your full range of options.
Loan Requirements: Metrobank vs BPI
Both banks serve a broad range of borrowers, but their documented eligibility criteria differ. Here's what we know:
| Requirement | Metrobank (General) | BPI Family Savings Bank (Verified) |
|---|---|---|
| Minimum Monthly Income | ~₱40,000 – ₱50,000 (approx.)* | 40,000 pesos |
| Employment Types Accepted | Employed, Self-Employed (general)* | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional |
| Maximum Debt-to-Income Ratio | Not publicly confirmed* | 40% |
| Loan Purposes | Purchase, Refinance, Renovation (general)* | Foreclosed, Home Equity, New Construction, Pre-Selling, RFO, Refinancing, Renovation, Reselling |
* Metrobank requirements are based on general publicly available information and may not reflect current internal policies. Always confirm with Metrobank directly.
BPI Family Savings Bank's explicit acceptance of OFW/Seafarers and BPO workers is a notable advantage for many Filipino borrowers. Nook can help you determine your eligibility and prepare your application at no cost.
Approval Speed and Process
Getting your home loan approved quickly matters — especially if you're refinancing to escape a high rate or purchasing a property with a time-sensitive deadline.
| Factor | Metrobank | BPI Family Savings Bank (via Nook) |
|---|---|---|
| Typical Approval Timeline | ~45–60 days (approximate)* | ~52 days |
| Application Channel | Branch, online portal | Branch, online, or via Nook (free broker) |
| Broker Support | Not available through Nook | Free broker guidance through Nook |
| Document Preparation Help | Self-managed | Assisted by Nook at no charge |
Applying through Nook for BPI doesn't slow down the process — in fact, having a broker help you prepare your documents correctly the first time often prevents delays caused by incomplete submissions.
Which Loan Purposes Are Covered?
Not all home loans are created equal. Some borrowers need financing for a ready-for-occupancy unit, others are refinancing an existing loan, and some need a home equity line. Here's how both banks compare on loan purpose coverage:
- Refinancing: Both Metrobank and BPI Family Savings Bank offer refinancing. BPI's verified refinance rate through Nook is 6.70% p.a.
- Ready for Occupancy (RFO): BPI explicitly covers RFO purchases. Metrobank also generally covers this, but confirm specifics directly.
- Pre-Selling: BPI accepts pre-selling property loans. Metrobank's stance on pre-selling varies — verify with the bank.
- Home Equity: BPI offers home equity loans at 6.70% p.a. through Nook. Metrobank also offers home equity products but rates are not verified.
- New Construction and Renovation: BPI covers both. Metrobank generally does as well, but terms vary.
- Foreclosed Properties: BPI explicitly accepts foreclosed property purchases — a useful option for buyers seeking below-market deals.
The Nook Advantage: Why Apply Through a Broker?
Most borrowers don't realize they can work with a mortgage broker in the Philippines for free. Nook is the country's first digital mortgage broker, and our service costs you nothing — the bank pays us, not you.
- Verified rates: You know exactly what rate you're getting before you apply.
- Multi-bank comparison: We compare options across our partner network so you don't have to visit multiple branches.
- Document preparation: We help you get your paperwork right the first time, reducing delays.
- No hidden fees: Our broker service is 100% free to the borrower.
Metrobank is not currently a Nook partner bank. This means Nook cannot verify their current promotional rates, negotiate on your behalf, or provide a streamlined application experience for Metrobank products. For borrowers who want certainty and support, applying for a BPI home loan through Nook is the clearer path.
Curious how BPI's rates stack up against the Philippines' biggest bank? Check out our detailed BDO vs BPI home loan comparison for more context.
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Compare My Options →Frequently Asked Questions
What is the current home loan interest rate at Metrobank?
Metrobank's home loan rates are approximately 7.00% to 8.00% per annum for fixed periods, based on publicly available information as of 2026. However, these rates are not verified through Nook's partner network and are subject to change. You should contact Metrobank directly or visit a branch to confirm their latest promotional rates before applying.
What is BPI's current home loan interest rate?
Through Nook's verified partner network, BPI Family Savings Bank currently offers a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. Their home equity loan rate is also 6.70% p.a. These rates are confirmed but subject to change — apply through Nook to lock in the latest available rate.
Is it better to get a home loan from Metrobank or BPI?
Based on currently verified rates, BPI Family Savings Bank offers lower confirmed interest rates and a broader range of accepted employment types, including OFWs, BPO workers, and the self-employed. Metrobank is a reputable bank, but since it is not a Nook partner, we cannot verify their current rates or provide broker assistance for Metrobank applications. For borrowers who want transparency and free expert support, BPI through Nook is the stronger option.
Can I refinance my Metrobank home loan to BPI through Nook?
Yes. If you currently have a home loan with Metrobank and want to refinance to a lower rate, Nook can help you apply for a refinance with BPI Family Savings Bank. BPI's verified refinance rate is 6.70% p.a. for a 1-year fixed period. Nook's broker service is completely free — we handle the comparison, paperwork guidance, and bank coordination at no cost to you.
How long does it take to get approved for a BPI home loan?
BPI Family Savings Bank's typical approval timeline is approximately 52 days. When you apply through Nook, our team helps you prepare your documents correctly before submission, which can help avoid delays caused by incomplete requirements. Metrobank's approval timeline is approximately 45 to 60 days based on general information, but this is not verified through Nook.
What is the minimum income required for a BPI home loan?
BPI Family Savings Bank requires a minimum monthly income of 40,000 pesos. This applies across employment types including private employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and professionals. Metrobank's minimum income requirement is approximately in the same range but should be confirmed directly with the bank.
Does BPI accept OFW home loan applications?
Yes. BPI Family Savings Bank explicitly accepts home loan applications from OFWs and seafarers. This makes BPI a strong option for overseas Filipino workers looking to purchase or refinance a property back home. Nook can guide OFW applicants through the process remotely at no charge.
How much can I save by refinancing to BPI through Nook?
Savings depend on your current rate, loan balance, and remaining term. As an example, a borrower with a 3,500,000 peso loan at 9.00% refinancing to BPI's 5-year fixed rate of 6.50% could save over 499,000 pesos in total interest over 20 years. Use Nook's free refinancing tool to calculate your personal savings estimate.
Is Nook's mortgage broker service really free?
Yes, completely free for borrowers. Nook is paid by the bank when your loan is successfully processed — not by you. You get expert mortgage guidance, rate comparisons, and document preparation support at zero cost. There are no hidden fees or charges added to your loan through Nook.