Homeowners with Philippine Bank of Commerce home loans are overpaying every month. Refinancing to 5.99% p.a. through Nook could save you over 4,800 pesos monthly — at zero cost to you.
PBCOM REFINANCE SAVINGS ESTIMATE
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Why this matters
Philippine Bank of Commerce (PBCOM) offers home loans, but like most local banks, their rates are repriced periodically — and many borrowers find themselves locked into rates of 8% to 9% or higher after their initial fixed period expires. If you took out your PBCOM home loan more than two years ago and haven't reviewed your rate since, there's a strong chance you're paying significantly more than you need to. Current mortgage rates in the Philippines have shifted, and the best refinance rates available today are considerably lower than what most PBCOM borrowers are carrying.
Refinancing away from PBCOM works by taking out a new home loan with a different lender at a lower interest rate, using the proceeds to fully pay off your existing PBCOM balance. The result is a lower monthly amortisation on the same remaining loan amount — freeing up real cash every month. On a 3,000,000 peso loan with 20 years remaining, the difference between 8.50% and 5.99% is roughly 4,500 pesos per month, or over 800,000 pesos across the life of the loan. Nook shops this refinance across multiple Philippine banks simultaneously, so you don't have to negotiate with each lender individually.
The process through Nook is entirely free for borrowers. Nook is compensated by the bank that wins your business, not by you. You submit one application, Nook identifies the best available offer, and a dedicated advisor guides you through requirements and documentation from start to finish. Most refinances complete within 30 to 60 days. If you're unsure whether refinancing makes sense for your specific situation, Nook's advisors can run a personalised savings calculation before you commit to anything.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
Yes, you can refinance your PBCOM home loan to any participating bank in the Philippines, including BDO, BPI, Security Bank, Metrobank, RCBC, and others. There is no obligation to stay with PBCOM, and switching lenders is a standard and common practice. Nook handles the comparison and application process across multiple banks on your behalf.
PBCOM may charge a pre-termination fee if you refinance during a fixed-rate lock-in period, which is typically the first one to three years of the loan. Once you are past that period, most borrowers can refinance without penalty. Your Nook advisor will help you check your loan terms to confirm whether any exit fees apply before you proceed.
Savings depend on your current rate, your outstanding loan balance, and your remaining term. On a 3,000,000 peso loan at 8.50% with 20 years remaining, switching to 5.99% saves approximately 4,500 pesos per month and over 800,000 pesos in total interest. Nook can run a personalised calculation for your specific loan details at no charge.
Standard requirements include a valid government-issued ID, proof of income (payslips or ITR depending on your employment type), a copy of your existing PBCOM loan statement, and the title and tax declaration for your property. The exact checklist varies slightly by the receiving bank, and your Nook advisor will provide a tailored document list once you submit your initial application.
Most refinances arranged through Nook are completed within 30 to 60 days from the time your documents are submitted. The timeline depends on how quickly your documents are compiled and the processing speed of the receiving bank. Nook's advisors actively follow up with the bank on your behalf to keep the process moving as efficiently as possible.
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