Metrobank vs PBCOM Home Loan: Overview
Metrobank (Metropolitan Bank & Trust Company) is one of the Philippines' largest universal banks with a long track record in home lending. PBCOM (Philippine Bank of Communications) is a smaller commercial bank that has been growing its retail lending portfolio, including home loans. Both offer fixed-rate and repricing-period structures, but their rate tiers, fees, and customer experience can differ considerably.
Important note: The rates shown for both Metrobank and PBCOM below are approximate figures based on publicly available information and general market knowledge. Neither bank is a Nook partner. Rates are subject to change and you should verify current rates directly with each bank before making any decision.
Interest Rate Comparison
| Feature | Metrobank | PBCOM | Nook (Best Available) |
|---|---|---|---|
| 1-Year Fixed Rate | ~7.00%–7.50% p.a.* | ~7.25%–8.00% p.a.* | From 5.99% p.a. |
| 2-Year Fixed Rate | ~7.25%–7.75% p.a.* | ~7.50%–8.25% p.a.* | Competitive options available |
| 3-Year Fixed Rate | ~7.50%–8.00% p.a.* | ~7.75%–8.50% p.a.* | Competitive options available |
| 5-Year Fixed Rate | ~8.00%–8.75% p.a.* | ~8.25%–9.00% p.a.* | Competitive options available |
| After Fixed Period | Reverts to prevailing rate | Reverts to prevailing rate | Refinance again at no cost |
*Approximate rates based on publicly available information as of 2024. Subject to change. Contact each bank directly for current published rates and any promotional offers.
To see how Metrobank stacks up against another major lender, read our BDO vs Metrobank Home Loan comparison.
Monthly Payment Comparison (Sample Calculation)
Below is an illustration of estimated monthly payments on a 3,000,000 peso home loan over a 20-year term at different rate scenarios. These figures are for comparison purposes only.
| Rate Scenario | Monthly Payment (approx.) | Total Interest Paid (20 yrs) |
|---|---|---|
| Metrobank ~8.00% p.a.* | 25,093 | 3,022,320 |
| PBCOM ~8.50% p.a.* | 26,035 | 3,248,400 |
| Nook Best Rate 5.99% p.a. | 21,484 | 2,156,160 |
At 5.99% p.a. versus a typical 8.00% rate, a borrower with a 3,000,000 peso loan could save approximately 3,609 pesos per month — that's over 866,000 pesos in total savings over 20 years. Nook's service costs you nothing to find out if you qualify.
Fees and Charges
| Fee Type | Metrobank | PBCOM |
|---|---|---|
| Processing Fee | ~10,000–15,000 pesos (approx.)* | ~10,000–15,000 pesos (approx.)* |
| Appraisal Fee | Charged to borrower | Charged to borrower |
| Documentary Stamp Tax | Borrower's account | Borrower's account |
| Early Repayment Penalty | Typically applies within fixed period | Typically applies within fixed period |
| Annual Fee | None typically | None typically |
| Broker Fee (via Nook) | N/A | N/A |
*Fee structures are approximate and based on general market information. Verify exact charges with each bank directly before proceeding.
Loan Features and Eligibility
| Feature | Metrobank | PBCOM |
|---|---|---|
| Minimum Loan Amount | ~500,000 pesos | ~500,000 pesos (approx.) |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 70%–80% of appraised value (approx.) |
| Loan Term | Up to 25 years | Up to 20 years (approx.) |
| Eligible Borrowers | Filipino citizens, OFWs, permanent residents | Filipino citizens, select OFWs |
| Minimum Age | 21 years old | 21 years old (approx.) |
| Maximum Age at Loan End | Typically 65–70 years | Typically 65 years (approx.) |
| OFW-Friendly | Yes | Limited (verify directly) |
Application Process
Metrobank
Metrobank has an established home loan process with branch-based and online inquiry options. As a large bank, processing times can vary but generally take several weeks. Metrobank has wide branch coverage across the Philippines, which can be convenient for in-person consultations. If you're also comparing Metrobank with investment banking products, our First Metro Investment vs Metrobank home loan comparison offers useful context.
PBCOM
PBCOM is a smaller institution with fewer branches, which may mean more limited face-to-face support compared to a major bank like Metrobank. Their home loan product may be suitable for borrowers who already bank with PBCOM, but market competitiveness versus larger lenders should be carefully evaluated. Always request a Loan Fact Sheet from PBCOM to compare the true cost of borrowing.
Via Nook (Recommended)
Nook submits your application to multiple partner banks simultaneously, meaning you get competing offers without doing the legwork yourself. The entire process is managed online, and Nook's service is 100% free to you — the banks pay Nook, not the borrower.
Who Should Consider Each Option?
- Metrobank — Best for borrowers who already have an existing relationship with Metrobank, value a nationally recognized brand, or prefer in-person branch support. However, do not assume that loyalty means the best rate — always compare.
- PBCOM — May suit existing PBCOM account holders or borrowers seeking a smaller bank experience, but the rate advantage versus larger banks is not clearly established. Verify current promotional offers directly.
- Nook — Best for any borrower who wants to ensure they are getting the lowest available rate in the market, without paying broker fees or spending weeks applying to multiple banks independently.
Refinancing: Is Now the Right Time?
If you currently have a home loan with Metrobank, PBCOM, or any other lender at a rate above 7%, you are likely paying more than you need to. Nook's best available refinance rate of 5.99% p.a. could represent significant monthly savings. On a 5,000,000 peso loan over 20 years, the difference between 8% and 5.99% is approximately 6,015 pesos per month — that's over 1.4 million pesos in savings over the life of the loan.
Refinancing through Nook is straightforward: submit your details once, receive multiple verified bank offers, and choose the best one. There are no upfront costs and no obligation. All interest rates are subject to change, so we recommend checking your eligibility and current available rates as soon as possible.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
Are Metrobank and PBCOM home loan rates the same?
No, Metrobank and PBCOM have different rate structures, fees, and loan terms. Based on publicly available information, Metrobank generally offers slightly more competitive rates than PBCOM due to its larger scale and funding base, but both banks' rates are typically higher than what you can access through a digital mortgage broker like Nook. Always request official Loan Fact Sheets from both banks and compare the Annual Percentage Rate (APR), not just the advertised interest rate.
Can I refinance my Metrobank home loan to get a lower rate?
Yes. If your current Metrobank home loan is at a rate above 6%, refinancing may save you a significant amount each month. Through Nook, the best available refinance rate is 5.99% p.a. Nook is a free service — you pay nothing to compare offers from multiple banks and find out if you qualify for a better rate.
Can I refinance my PBCOM home loan through Nook?
Yes. Nook can help you refinance your existing PBCOM home loan to a partner bank offering lower interest rates. The refinancing process is handled entirely online, and Nook's brokerage service is 100% free to you as the borrower. Simply submit your current loan details to get started.
What is the best home loan rate available in the Philippines right now?
Through Nook, the best available home loan refinance rate is 5.99% p.a. as of the time of writing. This rate is available to eligible borrowers refinancing their existing home loans. Note that all rates are subject to change — visit nook.com.ph to check the latest available rates and your eligibility.
How does Nook make money if the service is free for borrowers?
Nook is compensated by the partner banks when a loan is successfully processed. This is similar to how traditional brokers work, but Nook operates digitally to deliver a faster, more transparent experience. You as the borrower pay nothing — not upfront, not during the process, and not after settlement.
What documents do I need to apply for a home loan or refinance in the Philippines?
Typical requirements include a valid government-issued ID, proof of income (payslips, ITR, or audited financial statements for self-employed), a Certificate of Employment, a copy of the title (TCT or CCT) of the property, and the latest tax declaration. For refinancing, you will also need your current loan statement of account. Nook will guide you through exactly what is needed for your specific application.
Is PBCOM a good bank for home loans?
PBCOM is a licensed commercial bank regulated by the Bangko Sentral ng Pilipinas (BSP) and can be a viable option for home loans, especially for existing PBCOM account holders. However, its rate competitiveness versus major banks and broker-sourced options should be carefully verified. Always compare PBCOM's offer against at least two or three other lenders before committing.
How long does the refinancing process take through Nook?
The timeline varies depending on the bank and your documentation, but Nook is designed to streamline the process significantly compared to applying to each bank individually. Many borrowers receive initial offers within a few business days of submitting complete documents. Nook manages the coordination with the bank so you don't have to chase paperwork yourself.