Interest Rates Comparison
Metrobank Home Loan Rates
- Standard Variable Rate: ~8.5% - 10% p.a.*
- Fixed Rate Options: ~7.5% - 9% p.a.*
- Promotional Rates: May vary by loan amount and term
*Rates are approximate based on publicly available information and subject to change.
PNB Home Loan Rates
- Standard Variable Rate: ~7.5% - 9.5% p.a.*
- Fixed Rate Options: ~7% - 8.5% p.a.*
- Special Promo Rates: Available for qualified borrowers
*Rates are approximate based on publicly available information and subject to change.
Potential Savings Example
For a 5,000,000 loan over 20 years:
- At 8.5% rate: Monthly payment ~42,435
- At 7.5% rate: Monthly payment ~40,273
- Monthly savings: ~2,162
Loan Terms and Features
Metrobank Features
- Loan Amount: Up to 15,000,000
- Loan Term: Up to 25 years
- LTV Ratio: Up to 80%
- Processing Time: 3-4 weeks
- Prepayment: Allowed with minimal penalty
PNB Features
- Loan Amount: Up to 20,000,000
- Loan Term: Up to 25 years
- LTV Ratio: Up to 80%
- Processing Time: 2-3 weeks
- Prepayment: Flexible terms available
Fees and Charges
| Fee Type | Metrobank | PNB |
|---|---|---|
| Processing Fee | ~1% of loan amount | ~0.5% - 1% of loan amount |
| Appraisal Fee | ~8,000 - 15,000 | ~5,000 - 12,000 |
| Documentation Fee | ~5,000 - 10,000 | ~3,000 - 8,000 |
| Fire Insurance | Required | Required |
Why Choose Nook Partner Banks Instead
While both Metrobank offers competitive rates compared to other major banks, Nook's partner banks provide several advantages:
- Verified Low Rates: Starting from 5.99% p.a.
- Free Service: No broker fees or hidden charges
- Streamlined Process: Digital application and faster approvals
- Rate Transparency: Clear, upfront pricing with no surprises
On a 5,000,000 loan, switching from an 8.5% rate to 5.99% could save you over 8,000 monthly and more than 1,900,000 over the life of the loan.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which bank has lower home loan rates - Metrobank or PNB?
Based on publicly available information, PNB typically offers slightly lower rates starting around 7% p.a., while Metrobank rates generally start around 7.5% p.a. However, actual rates depend on your credit profile, loan amount, and current promotions. Both banks' rates are subject to change and should be verified directly.
What are the main differences between Metrobank and PNB home loans?
Key differences include PNB's higher maximum loan amount (20M vs 15M), potentially faster processing (2-3 weeks vs 3-4 weeks), and generally lower fees. Metrobank offers extensive branch network and digital banking services. Both banks require similar documentation and offer flexible prepayment terms.
Should I refinance my existing home loan to Metrobank or PNB?
Before considering either bank, compare their rates with Nook's partner banks offering rates as low as 5.99% p.a. If your current rate is above 7%, refinancing could provide significant savings. Consider factors like processing fees, loan terms, and total cost over the loan period, not just the interest rate.
How much can I save by refinancing from a high-rate bank to Metrobank or PNB?
Savings depend on your current rate and loan balance. For example, refinancing a 5M loan from 9% to 7.5% could save approximately 1,200 monthly. However, Nook partner banks at 5.99% would save even more - about 2,500 monthly on the same loan amount.
What documents do I need for Metrobank or PNB home loan refinancing?
Both banks typically require: valid IDs, proof of income (ITR, payslips, employment certificate), bank statements, existing loan documents, property title, tax declaration, and property appraisal. PNB may have slightly streamlined documentation requirements compared to Metrobank.
Can I get pre-approved for refinancing with Metrobank or PNB?
Yes, both banks offer pre-approval processes. Metrobank's pre-approval typically takes 1-2 weeks, while PNB may process faster. Pre-approval helps you understand your borrowing capacity and negotiate better with your current lender. Consider also getting pre-approved with multiple lenders to compare actual offered rates.