Metrobank vs PNB Home Loan: Side-by-Side Overview
Both Metrobank and PNB are established Philippine universal banks with active home loan products. However, because neither is a Nook partner bank, the rates and terms shown below are approximate figures based on publicly available information and may not reflect current promotions or the latest rate adjustments. Always verify directly with the bank before making any decision.
| Feature | Metrobank | PNB |
|---|---|---|
| Indicative Fixed Rate (1-yr) | ~7.50% – 8.50% p.a. | ~7.25% – 8.75% p.a. |
| Indicative Fixed Rate (3-yr) | ~8.00% – 9.00% p.a. | ~7.75% – 9.00% p.a. |
| Indicative Fixed Rate (5-yr) | ~8.50% – 9.50% p.a. | ~8.25% – 9.50% p.a. |
| Minimum Loan Amount | ~500,000 | ~500,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 80% of appraised value |
| Maximum Loan Term | Up to 25 years | Up to 20 years |
| Processing Fee | Applicable (varies) | Applicable (varies) |
| Appraisal Fee | Borrower-paid | Borrower-paid |
| Penalty for Early Repayment | May apply within fixed period | May apply within fixed period |
Rates shown are approximate, based on publicly available information as of 2024, and are subject to change without notice. Contact Metrobank or PNB directly for current official rates and terms.
Monthly Payment Comparison: ₱3,000,000 Home Loan
To illustrate how different interest rates affect your monthly budget, here's a side-by-side monthly repayment estimate for a ₱3,000,000 loan over 20 years at representative rates for each bank versus the best rate available through Nook.
| Lender | Rate (p.a.) | Est. Monthly Payment | Total Interest Paid (20 yrs) |
|---|---|---|---|
| Metrobank (approx.) | 8.00% | ~25,093 | ~3,022,320 |
| PNB (approx.) | 7.75% | ~24,609 | ~2,906,160 |
| Nook Best Rate | 5.99% | ~21,477 | ~2,154,480 |
At Nook's best available rate of 5.99% p.a., a borrower with a ₱3,000,000 loan could save approximately 3,616 per month compared to Metrobank's indicative rate, and approximately 3,132 per month compared to PNB's indicative rate. Over a 20-year loan term, those savings compound to over 800,000 to 867,000 in total interest — a meaningful difference for any Filipino household.
Note: Monthly payment estimates are for illustration only, calculated on a fully amortizing basis. Actual payments will vary based on exact rate, fees, and loan structure.
Metrobank Home Loan: Key Features
Metrobank is one of the Philippines' Big Three banks and has a well-established home loan program catering to salaried employees, self-employed individuals, and OFWs. Some highlights include:
- Loan terms up to 25 years, giving borrowers flexibility for longer repayment periods.
- Financing available for house and lot, condominium units, vacant lots, and home construction.
- OFW-friendly application process with overseas documentation support.
- Longer maximum loan tenor compared to many competitors, which can reduce monthly payments (though total interest increases).
- Rates are re-priced at the end of each fixed-rate period based on prevailing market rates — borrowers should plan for potential rate increases.
If you're also considering other comparisons involving Metrobank, see our detailed First Metro Investment vs Metrobank home loan comparison for additional context on Metrobank's positioning in the market.
PNB Home Loan: Key Features
Philippine National Bank (PNB) is a major universal bank with a longstanding home loan product that is popular among both local and overseas Filipino borrowers. Key features include:
- Maximum loan term of up to 20 years for home acquisition loans.
- Accepts OFW applicants with a local co-borrower.
- Financing covers house and lot, townhouse, condominium, and vacant lots for residential use.
- Loan-to-value ratio of up to 80% of the appraised value of the property.
- Processing and documentation requirements are standard for Philippine universal banks.
If you're comparing PNB against other banks, our BDO vs PNB home loan comparison and PNB vs Security Bank comparison offer additional data points to help you decide.
Fees and Hidden Costs to Watch Out For
Beyond the headline interest rate, both Metrobank and PNB home loans come with a range of fees that can significantly increase the true cost of borrowing. Borrowers should ask each bank for a full fee schedule before committing.
| Fee Type | Metrobank | PNB |
|---|---|---|
| Processing / Application Fee | Typically applicable | Typically applicable |
| Appraisal Fee | Borrower-paid | Borrower-paid |
| Documentary Stamp Tax | Borrower-paid | Borrower-paid |
| Notarial / Legal Fees | Borrower-paid | Borrower-paid |
| Mortgage Registration Fee | Borrower-paid | Borrower-paid |
| Cancellation / Prepayment Penalty | May apply in fixed period | May apply in fixed period |
When refinancing through Nook, borrowers benefit from a transparent breakdown of all applicable fees upfront — and Nook's broker service itself is completely free to the borrower. Nook is compensated by the lending bank, not by you.
Which Is Better for Refinancing: Metrobank or PNB?
If you are currently paying a mortgage with either Metrobank or PNB — or considering either for a new home loan — it's worth understanding that refinancing through a broker like Nook can often surface significantly better rates than going directly to any single bank.
Here's why: Metrobank and PNB each only offer their own products. Nook, as a digital mortgage broker, sources from multiple partner lenders simultaneously, giving you access to the most competitive rates available in the market. With Nook's current best rate of 5.99% p.a., most homeowners paying standard Metrobank or PNB rates can achieve meaningful monthly savings.
The refinancing process through Nook typically takes 3–6 weeks from application to approval, and Nook's team guides borrowers through every step — from document preparation to bank submission — at no cost.
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Compare My Options →Frequently Asked Questions
Are Metrobank and PNB home loan rates the same?
No, Metrobank and PNB have slightly different rate schedules, and both change their rates periodically based on market conditions. Based on publicly available information, both banks generally offer rates in the 7.25% to 9.50% p.a. range depending on the fixed-rate period chosen. Always contact the banks directly for their current official rates, as these figures are approximate and subject to change.
Which bank has a longer loan term — Metrobank or PNB?
Metrobank generally offers home loan terms of up to 25 years, while PNB's maximum term is typically up to 20 years. If you want to stretch repayments over a longer period to lower your monthly payment, Metrobank's longer tenor may be an advantage — though keep in mind that longer terms also mean more total interest paid over the life of the loan.
Can I refinance my Metrobank or PNB home loan through Nook?
Yes. Nook specializes in helping Filipino homeowners refinance their existing home loans — including those currently with Metrobank or PNB — to lower their interest rate and reduce their monthly payments. Nook's service is 100% free to the borrower. You can get started at nook.com.ph and Nook's team will help you find the best available rate among its panel of partner banks.
What is the best home loan rate available in the Philippines right now?
Through Nook's panel of partner banks, the best available refinance rate is currently 5.99% p.a. This is significantly lower than the approximate 7% to 9.50% rates typically offered by Metrobank and PNB, and can translate to savings of hundreds of thousands of pesos over the life of a typical home loan.
How much could I save by refinancing away from Metrobank or PNB?
Savings depend on your outstanding loan balance, remaining term, and current rate. As an illustration, a borrower with a ₱3,000,000 loan at 8.00% p.a. over 20 years pays approximately 25,093 per month. At Nook's best rate of 5.99% p.a., the same loan costs approximately 21,477 per month — a saving of around 3,616 per month, or over 867,000 in total interest over the loan term. Use Nook's free calculator at nook.com.ph to estimate your personal savings.
Do Metrobank and PNB charge prepayment penalties?
Both Metrobank and PNB may charge prepayment or early settlement penalties if you pay off your loan (or refinance away) during a fixed-rate period. The specific penalty terms vary by loan contract and bank policy. It's important to check your existing loan agreement or contact your current bank before initiating a refinance, so you can factor any penalty into your savings calculation.
Is Nook's mortgage broker service really free?
Yes. Nook's service is completely free to the borrower. Nook is compensated by the lending bank when a loan is successfully placed — similar to how insurance brokers operate. You receive the same (or better) rate you would get going to the bank directly, plus expert guidance and access to multiple lenders through a single application.