Metrobank vs Sterling Bank: Home Loan Rate Comparison
When refinancing a home loan in the Philippines, two names that sometimes come up in the same conversation are Metrobank and Sterling Bank of Asia. While they serve different market segments and have different product offerings, Filipino homeowners deserve a clear, honest side-by-side look before committing to either.
Important note: Interest rates shown below are approximate figures based on publicly available information and general market knowledge. Rates are subject to change without notice. Always verify current rates directly with the bank or through a licensed broker before making any financial decision.
At a Glance: Key Differences
| Feature | Metrobank | Sterling Bank of Asia | Nook (Best Available) |
|---|---|---|---|
| Fixed Rate (1-year) | ~7.50% – 8.50% p.a.* | ~8.00% – 9.50% p.a.* | From 5.99% p.a. |
| Fixed Rate (3-year) | ~8.00% – 9.00% p.a.* | ~8.50% – 10.00% p.a.* | Competitive fixed options available |
| Loan Amount | Up to ₱50,000,000+ | Varies by product | ₱1,500,000 – ₱10,000,000+ |
| Loan Term | Up to 25 years | Up to 20 years | Up to 25 years |
| Processing Fee | Applicable (varies) | Applicable (varies) | Free broker service |
| Market Reach | Nationwide, major bank | Smaller footprint | Multiple partner banks |
*Approximate rates based on publicly available information. Actual rates depend on loan amount, term, LTV ratio, and borrower profile. Verify with each bank directly.
Metrobank Home Loans: What You Should Know
Metrobank is one of the Philippines' largest universal banks, with a strong track record in home lending. Their home loan products are available nationwide and cater to a wide range of property types — from condominium units to house-and-lot purchases and refinancing.
Metrobank Home Loan Highlights
- Brand trust: One of the top three banks in the Philippines by assets, giving many borrowers peace of mind.
- Wide branch network: Convenient for in-person applications and document submission across Metro Manila and major provincial cities.
- Flexible terms: Loan terms of up to 25 years with various repricing periods available.
- Refinancing available: Metrobank accepts home loan refinancing applications from borrowers with existing loans at other banks.
Potential Drawbacks
- Standard posted rates typically fall in the 7.50% – 8.50% p.a. range for short fixing periods — higher than what Nook partner banks currently offer.
- Processing can be lengthy due to the volume of applications handled by a large institution.
- Rate negotiations are limited when applying directly; a broker may secure better terms.
If you're already considering Metrobank, it's worth reading our detailed guide on BPI vs Metrobank home loan rates to understand how Metrobank stacks up against another major bank before making your decision.
Sterling Bank of Asia Home Loans: What You Should Know
Sterling Bank of Asia is a smaller thrift bank operating in the Philippines, primarily serving retail and SME clients. While they do offer home loan products, their reach and product depth are more limited compared to universal banks like Metrobank.
Sterling Bank Home Loan Highlights
- Thrift bank focus: Smaller banks sometimes offer more personalized service for straightforward applications.
- Accessible entry point: May consider borrower profiles that larger banks decline, though terms may reflect the added risk.
Potential Drawbacks
- Rates tend to be higher — approximately 8.00% – 9.50% p.a. or above — reflecting a smaller balance sheet and higher cost of funds.
- Limited branch network may make document submission and servicing less convenient.
- Refinancing options and product variety are more limited compared to universal banks.
- Less competitive when benchmarked against rates currently available through Nook's partner banks.
Real Savings Comparison: What Lower Rates Actually Mean
Let's make this concrete. Suppose you have a home loan of 3,000,000 pesos with 20 years remaining.
| Scenario | Interest Rate | Monthly Payment (approx.) | Total Interest Paid (approx.) |
|---|---|---|---|
| Sterling Bank (high estimate) | 9.50% p.a. | 27,964 | 3,711,360 |
| Metrobank (mid estimate) | 8.00% p.a. | 25,093 | 3,022,320 |
| Nook Best Rate | 5.99% p.a. | 21,478 | 2,154,720 |
Potential saving vs Sterling Bank (high estimate): approximately 1,556,640 pesos in total interest.
Potential saving vs Metrobank (mid estimate): approximately 867,600 pesos in total interest.
These figures are illustrative estimates for comparison purposes only. Actual savings depend on your specific loan balance, remaining term, applicable rate, and fees. Always request a formal loan quotation before deciding.
Why Comparing Two Banks Isn't Enough
Many Filipino homeowners make the mistake of comparing only two banks — the one they currently have their loan with and one alternative they've heard about. The reality is that the Philippine home loan market has over a dozen active lenders, each with different rate structures, risk appetites, and promotional periods.
Nook solves this problem by doing the comparison for you — across all partner banks simultaneously — and presenting you with your best available option based on your actual loan profile. There are no fees for this service. You pay nothing.
Whether you're comparing Metrobank against Sterling Bank, or trying to understand how BPI and Metrobank compare for refinancing, the smartest next step is always to get a verified rate quote rather than relying on published estimates alone.
Who Should Consider Each Bank?
Consider Metrobank if:
- You already have a strong banking relationship with Metrobank and prefer to consolidate.
- You need a very large loan amount and prefer the security of a universal bank.
- You value a wide branch network for in-person servicing.
Consider Sterling Bank of Asia if:
- Your borrower profile has been declined by larger banks and you need an alternative.
- You are looking for a smaller institution that may offer more personal attention.
Consider Nook if:
- You want the lowest available rate in the market without doing the legwork yourself.
- You want to compare multiple banks in one application.
- You want expert guidance on whether refinancing makes financial sense for your situation — at zero cost.
How to Refinance Through Nook
- Submit your loan details — takes about 5 minutes online at nook.com.ph.
- Receive your personalized rate comparison — Nook matches you with the best available rates from partner banks.
- Choose your preferred offer — no pressure, no hidden fees.
- Nook handles the paperwork — from application to approval, Nook guides you through the process.
- Start saving — your new lower monthly payment takes effect once refinancing is complete.
The entire service is free for borrowers. Nook is compensated by the bank, not by you.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Is Sterling Bank of Asia a legitimate bank for home loans in the Philippines?
Yes, Sterling Bank of Asia is a BSP-regulated thrift bank operating in the Philippines and is authorized to offer home loan products. However, as a smaller institution, its product range, rates, and branch network are more limited compared to universal banks like Metrobank. Always verify that any bank you work with is BSP-licensed before proceeding with an application.
What is Metrobank's current home loan interest rate?
Metrobank's posted home loan rates are approximately 7.50% to 8.50% p.a. for shorter fixing periods, based on publicly available information. However, these rates are subject to change without notice and vary depending on your loan amount, loan-to-value ratio, fixing period, and borrower profile. You should contact Metrobank directly or apply through Nook to get a verified, current rate quote tailored to your situation.
Can I refinance from Sterling Bank to a better-rate bank through Nook?
Yes, if you currently have a home loan with Sterling Bank of Asia and want to refinance to a lower rate, Nook can help. Nook works with multiple partner banks and can identify the lowest rate you qualify for based on your loan balance, remaining term, and borrower profile. The service is completely free to you as a borrower.
How much can I save by refinancing from Metrobank to a Nook partner bank?
Savings depend on your specific loan amount, remaining term, and the rate differential. As an example, on a 3,000,000 peso loan with 20 years remaining, moving from an 8.00% p.a. Metrobank rate to Nook's best available rate of 5.99% p.a. could save approximately 867,600 pesos in total interest over the loan term. Use Nook's free calculator or apply online to get a savings estimate specific to your loan.
Does Nook charge any fees for helping me refinance?
No. Nook's mortgage broker service is 100% free to borrowers. Nook is compensated by the bank that ultimately provides your refinanced loan, not by you. There are no broker fees, consultation fees, or hidden charges for using Nook's service.
Which is better for refinancing — Metrobank or Sterling Bank?
For most borrowers, Metrobank would generally be the stronger option between the two — it offers a wider product range, larger loan amounts, longer terms, and typically more competitive rates than Sterling Bank. That said, neither bank may offer the lowest rate available to you. Through Nook, you can compare both against multiple partner banks simultaneously and find your best refinance rate without paying any fees.
What documents do I need to refinance my home loan?
Standard refinancing documents in the Philippines typically include a valid government-issued ID, proof of income (payslips, ITR, or audited financial statements for self-employed borrowers), your existing loan statement of account, a copy of the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), and a recent tax declaration with real property tax receipts. Requirements may vary slightly by bank. Nook will guide you through the exact document checklist once you start your application.