Metrobank vs RCBC Home Loan: At a Glance
Metrobank and Rizal Commercial Banking Corporation (RCBC) are both well-established Philippine banks with active home loan and refinancing programs. If you're considering refinancing your existing mortgage, understanding how these two lenders stack up is a smart first step — though it's worth knowing upfront that the best rates in the market may not come from either of them directly.
Important note: The rate information below is approximate, based on publicly available data, and is subject to change without notice. Always verify current rates directly with each bank before making any decisions.
| Feature | Metrobank | RCBC |
|---|---|---|
| Indicative Home Loan Rate | ~7.00% – 9.00% p.a. | ~7.00% – 9.50% p.a. |
| Fixed-Rate Periods Available | 1, 2, 3, 5, 10 years | 1, 2, 3, 5, 10, 15, 20 years |
| Maximum Loan-to-Value Ratio | Up to 80% | Up to 80% |
| Minimum Loan Amount | ~1,000,000 | ~1,000,000 |
| Maximum Loan Term | Up to 25 years | Up to 20 years |
| Processing Fee | Variable (charged upfront) | Variable (charged upfront) |
| Early Repayment Penalty | Typically applies within fixed period | Typically applies within fixed period |
| Online Application | Yes | Yes |
Rates shown are approximate and based on publicly available information. They are indicative only and subject to change. Contact each bank directly for their current published rates.
Metrobank Home Loan: What You Need to Know
Metrobank is one of the Philippines' largest banks and a trusted name in home financing. Their home loan product is well-regarded for its straightforward application process and wide branch network — useful for borrowers who prefer face-to-face service.
Metrobank Home Loan Highlights
- Competitive entry rates: Metrobank's indicative rates typically start around 7.00% p.a. for shorter fixed periods, though these vary based on loan amount, term, and borrower profile.
- Flexible terms: Loan terms of up to 25 years give borrowers more room to manage monthly repayments.
- Established brand: As one of the top universal banks, Metrobank offers stability and a broad service network.
- Fixed-rate options: Multiple fixing periods from 1 to 10 years let borrowers balance rate certainty with flexibility.
You can explore more Metrobank comparisons in our related guides, including BDO vs Metrobank home loan rates and Metrobank vs PSBank home loan rates, to see how Metrobank stacks up against other lenders.
Sample Monthly Payment Estimate (Metrobank, ~7.50% p.a.)
For a loan of 3,000,000 over 20 years at approximately 7.50% p.a.:
- Estimated monthly payment: approximately 24,100
- Total interest paid over loan life: approximately 2,784,000
These are illustrative estimates only. Actual payments will differ based on your approved rate and terms.
RCBC Home Loan: What You Need to Know
Rizal Commercial Banking Corporation (RCBC) has positioned itself as a borrower-friendly option with a notably wide range of fixed-rate periods — including longer fixing options up to 20 years, which is uncommon among Philippine banks. This can appeal to borrowers who want long-term payment certainty.
RCBC Home Loan Highlights
- Extended fixed-rate periods: RCBC's longer fixing options (up to 20 years) set it apart from many competitors and provide greater payment predictability.
- Broad eligibility: RCBC accepts both employed and self-employed borrowers, as well as OFWs.
- Digital-friendly: Online application and loan tracking tools make the process more convenient.
- Competitive positioning: RCBC actively competes for refinancing business, though rates depend heavily on borrower profile and loan specifics.
Sample Monthly Payment Estimate (RCBC, ~7.75% p.a.)
For a loan of 3,000,000 over 20 years at approximately 7.75% p.a.:
- Estimated monthly payment: approximately 24,650
- Total interest paid over loan life: approximately 2,916,000
These are illustrative estimates only. Actual payments will differ based on your approved rate and terms.
Head-to-Head: Metrobank vs RCBC for Refinancing
When it comes to refinancing an existing home loan, the key factors are the interest rate you'll be locked into, the repricing flexibility after the fixed period ends, and the total cost of switching (including legal fees, appraisal, and processing charges).
Rate Competitiveness
Both banks offer rates broadly in the 7%–9.50% p.a. range, which is typical for Philippine banks. Metrobank may have a slight edge at the lower end of the range for well-qualified borrowers, but individual approvals vary significantly. Neither bank publicly advertises rates below 7% p.a. for standard refinance products.
Fixing Period Flexibility
RCBC stands out for offering longer fixed-rate periods — up to 20 years. This is a meaningful advantage if you want certainty over your repayments for the long haul. Metrobank's options top out at 10 years, which is still reasonable but less extensive.
Loan Term
Metrobank allows loan terms up to 25 years versus RCBC's 20-year maximum. For borrowers seeking the lowest possible monthly payment through a longer amortization period, Metrobank has a structural advantage here.
Fees and Switching Costs
Both banks charge processing fees, appraisal fees, and documentary stamp taxes when refinancing. These costs typically range from 30,000 to 80,000 or more depending on the loan size and property. It's essential to factor these into your break-even calculation before switching.
The Real Question: Can You Do Better?
The most important insight for refinancing borrowers is this: if you're currently paying 8%, 9%, or more on your home loan, both Metrobank and RCBC may represent an improvement — but neither may offer the best available rate in the market. Through Nook, borrowers can access rates starting from 5.99% p.a., which can represent savings of tens of thousands of pesos per year.
How Much Could You Save by Refinancing?
To put the numbers in perspective, consider a homeowner with a 4,000,000 loan balance and 15 years remaining:
| Scenario | Rate | Monthly Payment | Total Interest (15 yrs) |
|---|---|---|---|
| Current loan (typical) | 9.00% p.a. | ~40,570 | ~3,302,600 |
| Refinance to Metrobank (est.) | ~7.50% p.a. | ~37,060 | ~2,670,800 |
| Refinance to RCBC (est.) | ~7.75% p.a. | ~37,600 | ~2,768,000 |
| Refinance via Nook | 5.99% p.a. | ~33,760 | ~2,076,800 |
At 5.99% p.a. versus a 9.00% existing rate, the same borrower could save approximately 6,810 per month and over 1,225,000 across the remaining loan life. Even compared to Metrobank's estimated rate, refinancing through Nook could save roughly 3,300 per month.
All figures are illustrative estimates for comparison purposes only. Actual savings depend on your specific loan terms and approved rate.
Why Work With Nook Instead of Going Directly to a Bank?
When you apply directly to Metrobank or RCBC, you're limited to that bank's products and rates. Nook is the Philippines' first digital mortgage broker — meaning we shop multiple lenders simultaneously to find the best rate for your specific profile. And our service is 100% free to borrowers.
- Access to verified partner rates: Starting from 5.99% p.a. — significantly below what either Metrobank or RCBC typically advertise.
- No broker fee: Nook is completely free to use. We earn from our bank partners, not from you.
- One application, multiple options: Instead of applying bank by bank, submit once and compare real offers.
- Expert guidance: Our team helps you understand the true cost of switching and whether refinancing makes sense for you.
- Streamlined process: Less paperwork, faster turnaround, and a digital-first experience.
If you're weighing your options, it's also worth reading our guide on First Metro Investment vs Metrobank home loan rates to see how other institutions compare in the Philippine market.
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Compare My Options →Frequently Asked Questions
Which is better for home loan refinancing — Metrobank or RCBC?
Both are reputable banks, but the "better" choice depends on your priorities. Metrobank offers longer loan terms (up to 25 years) which can lower your monthly payment, while RCBC offers longer fixed-rate periods (up to 20 years) for greater payment certainty. However, if getting the lowest possible rate is your goal, working with a mortgage broker like Nook — which offers rates starting from 5.99% p.a. — may beat what either bank can offer directly.
What is the current interest rate for Metrobank home loans?
Metrobank's home loan rates are approximately 7.00% to 9.00% p.a. based on publicly available information, but these rates vary depending on the loan amount, term, fixing period, and borrower profile. Rates are subject to change, so you should contact Metrobank directly for their most current published rates.
What is the current interest rate for RCBC home loans?
RCBC's indicative home loan rates range from approximately 7.00% to 9.50% p.a. based on publicly available information. As with all banks, the exact rate offered depends on your credit profile, loan amount, and chosen fixing period. Always verify current rates directly with RCBC before applying.
How long does it take to refinance a home loan in the Philippines?
The refinancing process in the Philippines typically takes 4 to 8 weeks from application to loan release, depending on the bank, the completeness of your documents, and property appraisal timelines. Working with Nook can help streamline this process by ensuring your documents are in order before submission.
Are there fees involved in switching my home loan from one bank to another?
Yes. Refinancing involves costs such as processing fees, appraisal fees, documentary stamp tax, notarial fees, and sometimes an early repayment penalty from your current bank. These costs can range from 30,000 to 80,000 or more depending on your loan size. It's important to calculate the break-even point to ensure the interest savings outweigh these upfront costs.
Can OFWs refinance their home loan through Metrobank or RCBC?
Yes, both Metrobank and RCBC accept home loan applications from Overseas Filipino Workers (OFWs), subject to eligibility requirements such as proof of employment, income documentation, and a valid Special Power of Attorney (SPA) for a local representative. Nook also assists OFW borrowers in finding the best refinance deal available.
What is the minimum loan amount for refinancing at Metrobank and RCBC?
Both Metrobank and RCBC generally have a minimum home loan amount of around 1,000,000. However, practical refinancing makes the most financial sense for loan balances of 1,500,000 and above, where the interest savings are large enough to justify the switching costs.
How does Nook's service work and is it really free?
Nook is a digital mortgage broker that compares home loan offers from multiple lenders to find the best rate for your profile. The service is 100% free to borrowers — Nook earns a referral fee from its partner banks, not from you. You submit one application, and Nook presents you with the best available offers, including rates starting from 5.99% p.a.