Metrobank vs PSBank Home Loan: Quick Overview
Both Metrobank and PSBank are established Philippine banks offering home loan and refinancing products. Metrobank is one of the country's largest universal banks with a broad home loan portfolio, while PSBank — the thrift banking arm of Metrobank Group — focuses on retail consumers and is known for its flexible payment schemes. Despite being under the same corporate group, their home loan products, rate structures, and processing experiences can differ meaningfully.
Important disclaimer: The rate information below is approximate, sourced from publicly available information, and is subject to change at any time. Always verify current rates directly with each bank before making a financial decision.
Interest Rate Comparison
| Fixing Period | Metrobank (Approx.) | PSBank (Approx.) | Nook Best Available |
|---|---|---|---|
| 1-year fixed | 7.00% – 8.50% p.a. | 7.25% – 8.75% p.a. | 5.99% p.a.* |
| 3-year fixed | 7.50% – 9.00% p.a. | 7.75% – 9.25% p.a. | From 6.25% p.a.* |
| 5-year fixed | 8.00% – 9.50% p.a. | 8.25% – 9.75% p.a. | From 6.50% p.a.* |
*Nook partner bank rates are verified at time of publication and subject to change. Non-partner bank rates are estimates based on publicly available data. All rates are indicative only.
To put these numbers in context, consider a home loan of 3,000,000 over 20 years. At Metrobank's approximate mid-range rate of 8.00% p.a., your monthly repayment would be around 25,093. At PSBank's approximate mid-range of 8.25% p.a., that rises to roughly 25,573. At Nook's best available rate of 5.99% p.a., the same loan would cost approximately 21,483 per month — a saving of around 3,610 – 4,090 every single month, or up to 981,600 over the full 20-year term.
Fees and Charges
| Fee Type | Metrobank | PSBank |
|---|---|---|
| Processing fee | Approximately 5,000 – 10,000 (estimated) | Approximately 5,000 – 10,000 (estimated) |
| Appraisal fee | Charged separately (varies by property value) | Charged separately (varies by property value) |
| MRI / Fire insurance | Required; annual premium applies | Required; annual premium applies |
| Early settlement fee | Typically 2–3% of outstanding balance within fixed period | Typically 2–3% of outstanding balance within fixed period |
| Documentary stamp tax | Borrower's responsibility | Borrower's responsibility |
Fee structures for both banks are approximate and based on general market knowledge. Exact fees should be confirmed directly with each institution. When comparing total loan cost, always factor in all upfront and recurring fees — not just the headline interest rate.
Loan Terms and Eligibility
| Feature | Metrobank | PSBank |
|---|---|---|
| Minimum loan amount | Approximately 500,000 | Approximately 300,000 |
| 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 |
| Eligible borrowers | Filipino citizens and qualified foreign nationals; employed or self-employed | Filipino citizens; employed, self-employed, or OFW |
| Minimum age | 21 years old | 21 years old |
| Maximum age at loan maturity | Typically 65–70 years old | Typically 65 years old |
PSBank's lower minimum loan amount may make it more accessible for smaller property purchases, while Metrobank's longer maximum term of 25 years allows borrowers to spread repayments over a longer period, reducing monthly obligations at the cost of higher total interest paid.
If you're also considering other major banks for comparison, our guide on BDO vs Metrobank home loan rates covers another popular head-to-head that many Filipino homeowners research.
Refinancing with Metrobank
Metrobank accepts refinancing applications from borrowers with existing home loans at other banks. Their process typically involves property appraisal, credit evaluation, and submission of standard documents including proof of income, property titles, and existing loan statements. Processing times can range from a few weeks to over a month depending on document completeness and internal queues.
One consideration with Metrobank refinancing is that their rates, while competitive among large universal banks, are generally not the lowest available in the market. Borrowers who took out loans at 9–10% several years ago may find Metrobank's current rates attractive, but could potentially do better through a broker who has access to multiple lenders simultaneously. For a broader perspective on Metrobank's positioning, see our BPI vs Metrobank home loan comparison.
Refinancing with PSBank
PSBank offers home loan refinancing and is particularly known for its consumer-friendly approach as a thrift bank. OFW borrowers may find PSBank's eligibility criteria relatively accommodating. However, PSBank's maximum loan term of 20 years is shorter than some competitors, which can mean higher monthly payments for larger loan amounts.
As a member of the Metrobank Group, PSBank shares some back-end infrastructure with its parent, but operates as a separate entity with its own rate cards and approval processes. Borrowers should not assume that being an existing Metrobank customer will automatically yield better rates or faster approval at PSBank.
Why a Mortgage Broker May Beat Both Banks
When you apply directly to a single bank — whether Metrobank, PSBank, or any other — you're limited to that bank's current rate offering. A mortgage broker like Nook simultaneously checks rates across multiple partner banks, meaning you get the benefit of competition without doing the legwork yourself.
Nook's service is 100% free to borrowers. There are no broker fees, no hidden charges. Nook earns a referral fee from the lending bank only when a loan is successfully settled — meaning Nook's interests are fully aligned with getting you the best possible outcome.
For a loan of 5,000,000 over 20 years, the difference between a 8.50% rate and a 5.99% rate is approximately 7,000 per month — or 1,680,000 over the life of the loan. That's not a marginal difference; it's a significant financial outcome that justifies taking 10 minutes to check your refinancing options.
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Compare My Options →Frequently Asked Questions
Is Metrobank or PSBank better for a home loan?
It depends on your specific situation, but neither may be the best option available to you. Metrobank offers longer loan terms (up to 25 years) and handles larger loan amounts more readily, while PSBank has a lower minimum loan amount and may be more accessible for OFWs. However, both banks' rates are approximate estimates based on publicly available data and are subject to change. Through Nook, you may be able to access verified rates from partner banks that are lower than either Metrobank or PSBank's standard offerings.
What is Metrobank's current home loan interest rate?
Metrobank's home loan rates are not publicly listed in real-time and vary based on the fixing period, loan amount, and your credit profile. Based on publicly available information, indicative rates typically range from approximately 7.00% to 9.50% p.a. depending on the fixing period chosen. These figures are approximate and subject to change. Always contact Metrobank directly or work with a broker like Nook to get a verified, personalised rate quote.
What is PSBank's current home loan interest rate?
PSBank's home loan rates are indicatively estimated at around 7.25% to 9.75% p.a. depending on the fixing period, based on publicly available information. As a thrift bank under the Metrobank Group, PSBank's rates tend to track closely with its parent but may differ. These rates are approximate and subject to change without notice. Verify current rates directly with PSBank or through a broker.
Can I refinance from Metrobank to PSBank, or vice versa?
Technically yes, both banks accept refinancing applications from borrowers with existing loans at other institutions. However, refinancing between two banks within the same corporate group (Metrobank Group) may not always result in significantly better terms. It's worth comparing both against options outside the group. Nook can help you compare verified rates from multiple partner banks in a single application, at no cost to you.
How much can I save by refinancing my home loan?
Savings depend on your current rate, outstanding balance, and remaining loan term. As a rough guide, on a 3,000,000 loan with 20 years remaining, moving from 8.50% p.a. to 5.99% p.a. could reduce your monthly payment by approximately 4,400 — saving over 1,050,000 over the life of the loan. Use Nook's free refinancing calculator to estimate your personal savings based on your actual loan details.
Is there a fee to use Nook's refinancing service?
No. Nook's mortgage broking service is completely free for borrowers. Nook earns a referral fee from the lending bank only upon successful loan settlement, so there are no upfront costs, application fees, or hidden charges for using the service. You get access to multiple lender comparisons at no cost to you.
What documents do I need to refinance my home loan?
Whether you refinance through Metrobank, PSBank, or a Nook partner bank, you'll typically need: valid government-issued ID, proof of income (payslips or ITR for employed borrowers; audited financial statements for self-employed), your latest home loan Statement of Account, original Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), updated tax declaration, and proof of fire and MRI insurance. Nook's team can guide you through document preparation to help streamline the process.
How long does home loan refinancing take in the Philippines?
Processing times vary by bank and how quickly you can submit complete documents. Typically, refinancing takes between 4 to 8 weeks from application to loan release, though it can be shorter or longer depending on the lender's internal queue and the complexity of your application. Working with Nook can help reduce delays by ensuring your documents are complete and correctly submitted from the start.