Metrobank vs PNB

Metrobank vs PNB Home Loan: Side-by-Side Overview

Important note: Metrobank and PNB are not currently Nook partner banks. The rate information below is approximate, based on publicly available information and general market knowledge, and is subject to change without notice. Always verify current rates directly with the bank before making a decision.

Interest Rates in Detail

Both Metrobank and PNB price their home loans in a similar range. As of the latest publicly available information, indicative rates for standard fixing periods look roughly like this:

Metrobank Home Loan Rates (Approximate)

• 1-year fixed: ~7.00%–7.50% p.a.
• 2-year fixed: ~7.25%–7.75% p.a.
• 3-year fixed: ~7.50%–8.00% p.a.
• 5-year fixed: ~8.00%–8.50% p.a.
• 10-year fixed: ~8.50%–9.00% p.a.

PNB Home Loan Rates (Approximate)

• 1-year fixed: ~7.25%–7.75% p.a.
• 2-year fixed: ~7.50%–8.00% p.a.
• 3-year fixed: ~7.75%–8.25% p.a.
• 5-year fixed: ~8.25%–8.75% p.a.
• 10-year fixed: ~8.75%–9.25% p.a.

These figures are approximate and based on publicly available information. Actual rates depend on your loan amount, term, property type, and the bank's current promotional offerings. Always verify rates directly with Metrobank and PNB before applying.

For context, if you currently have a home loan with either bank and are paying a rate in this range, you may be paying significantly more than necessary. Nook's best available refinance rate is currently 5.99% p.a. — which could represent substantial monthly savings. For a deeper look at how these two banks stack up historically, see our Metrobank vs PNB home loan rates comparison.

What Could Refinancing Save You?

To illustrate how much a lower rate matters, here are sample monthly payment comparisons for a 3,000,000 peso home loan over 20 years:

Switching from a 9.00% rate to 5.99% on a 3,000,000 loan could save approximately 5,444 per month — or over 1,306,000 in total interest over the remaining loan term. Even moving from 7.50% to 5.99% saves roughly 2,616 per month.

Note: Monthly payment figures are illustrative estimates based on a fully amortizing loan. Actual payments will vary depending on your exact loan balance, remaining term, fees, and bank-specific conditions.

Fees and Charges: What to Watch For

Beyond the interest rate, both Metrobank and PNB charge standard home loan fees that can add up. Here's what to budget for:

Common Fees at Both Banks

• Processing / Application Fee: Typically 0.10%–0.25% of the loan amount. On a 3,000,000 loan, that's 3,000–7,500.
• Appraisal Fee: Usually 3,000–5,000 or more depending on property location and size.
• Mortgage Registration Fee: Paid to the Register of Deeds, based on loan amount.
• Notarial Fees: Varies by region.
• Fire Insurance: Required annually, typically based on the property's insured value.
• MRI (Mortgage Redemption Insurance): Usually required; annual premium based on outstanding balance and borrower's age.

When refinancing, you'll also need to account for the cancellation of your existing mortgage annotation and re-registration — these are standard costs regardless of which bank you move to.

With Nook, the broker service itself is 100% free. Nook is compensated by the lending partner, not the borrower. You still pay standard bank and government fees, but you pay nothing for Nook's assistance in finding, comparing, and processing your refinance.

Eligibility Requirements

Metrobank and PNB have broadly similar eligibility criteria for home loans and refinancing:

Metrobank

• Filipino citizen or qualified foreign national
• At least 21 years old at time of application; not more than 65 years old at loan maturity
• Employed (at least 2 years tenure) or self-employed / business owner (at least 2 years in business)
• Minimum gross monthly income requirements apply (varies by loan amount)

PNB

• Filipino citizen or qualified foreign national
• At least 21 years old; not more than 65–70 years old at loan maturity
• Employed (minimum 2 years), self-employed, or OFW (with qualifying documentation)
• Minimum gross monthly income requirements apply

Both banks will require standard documentation: valid IDs, proof of income (payslips, ITR, or audited financial statements), property documents (title, tax declaration), and a duly filled application form.

Metrobank vs PNB: Refinancing Specifically

If you already have a home loan — whether with Metrobank, PNB, or another bank — and you're considering refinancing, there are a few things to understand about how each bank handles it.

Refinancing with Metrobank

Metrobank accepts refinancing applications from borrowers holding loans with other banks. If you're an existing Metrobank home loan customer looking to reprice (adjust your rate within the same bank), the process is generally simpler than a full refinance. However, repricing rates may not be as competitive as refinancing to a new lender.

Refinancing with PNB

PNB similarly accepts take-out refinancing from other banks and offers repricing for existing customers. PNB has historically been active in the OFW segment and may have specific programs suited to overseas Filipino workers looking to manage their home loan from abroad.

Why Many Borrowers Look Beyond Both Banks

The refinancing process at any single bank only gives you one rate offer. Working with Nook means your application is assessed across multiple partner banks simultaneously, so you see the most competitive available rate without having to apply multiple times yourself. You can explore the full picture in our PNB vs Metrobank home loan rates breakdown to understand where each bank has historically been stronger.

Approval Process and Timelines

Both Metrobank and PNB follow a fairly standard Philippine bank home loan approval process:

1. Application submission — Complete the form and submit all required documents.
2. Credit evaluation — The bank assesses your income, credit history, and capacity to pay.
3. Property appraisal — An accredited appraiser inspects and values the property.
4. Loan approval and offer — The bank issues a formal loan offer letter.
5. Loan documentation and signing — Legal documents are prepared and executed.
6. Mortgage registration — The mortgage is annotated on the title at the Register of Deeds.
7. Loan release — Funds are disbursed (for purchase) or existing mortgage is settled (for refinancing).

Total timeline: typically 4–8 weeks from complete document submission, though complex cases can take longer. Delays are common when documents are incomplete or property appraisal scheduling is slow.

Nook helps streamline this by guiding you through document preparation upfront, reducing back-and-forth with the bank.