If you took out a home loan with Philippine Business Bank, there's a good chance you're paying a rate that no longer reflects the market. Nook can help you refinance to as low as 5.99% p.a. — at zero cost to you.
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Why this matters
Philippine Business Bank (PBB) offers home loans, but like many smaller commercial banks in the Philippines, their mortgage rates tend to sit on the higher end of the market — often between 8% and 10% per annum depending on when you locked in your rate. If you've been faithfully making payments for the past few years, the good news is you've built up equity and payment history that makes you an attractive borrower to refinance with a major bank. That's real leverage you haven't used yet. You can check current mortgage interest rates in the Philippines to see exactly how much room there is between what you're paying now and what's available today.
Refinancing means switching your existing PBB mortgage to a new lender — typically one of the major Philippine banks like BPI, BDO, Security Bank, or Metrobank — at a lower interest rate. The new bank pays off your PBB loan in full, and you simply start repaying the new lender at better terms. Many PBB borrowers who refinance through Nook reduce their monthly payment by thousands of pesos without extending their loan term. The process is fully digital, and Nook handles all the bank comparisons, paperwork coordination, and lender negotiations on your behalf — completely free of charge.
The most common concern we hear from PBB borrowers is not knowing where to start or which bank will actually approve them. Nook eliminates that uncertainty. We assess your loan profile, match you to the banks most likely to approve your application at the best rate, and guide you step by step through submission. Whether your remaining balance is ₱1.5 million or ₱8 million, if you're more than 12 months into your PBB loan, you're likely eligible to refinance — and the savings over the remaining life of your loan can be substantial.
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, absolutely. Refinancing with a different bank is entirely standard practice in the Philippines. Nook works with all major Philippine lenders including BDO, BPI, Metrobank, Security Bank, and others who regularly accept refinance applications from PBB borrowers. The new bank simply pays off your existing PBB balance and becomes your new lender at a lower rate.
It depends on your current rate, remaining balance, and term — but PBB borrowers paying 8% to 9.5% who refinance to 5.99% p.a. typically save between 3,000 and 6,000 pesos per month on a ₱3,000,000 loan. Over a 15-year remaining term, that can add up to over half a million pesos in total interest savings. Use Nook's free calculator to get a personalised estimate based on your actual loan details.
PBB, like most Philippine banks, may charge a prepayment or early termination fee if you exit within a lock-in period — typically the first one to three years of the loan. You should check your original loan documents or call PBB directly to confirm whether any penalty applies. Even when a penalty exists, the long-term savings from refinancing usually far outweigh the one-time exit cost.
Standard refinance requirements include your latest PBB loan statement of account, proof of income (payslips or ITR for self-employed), a copy of the Transfer Certificate of Title (TCT), and valid government-issued IDs. The exact checklist varies slightly by receiving bank — for example, BPI has specific housing loan requirements that Nook can walk you through in detail. Nook will give you a complete, bank-specific checklist once you start your application.
The typical refinancing timeline in the Philippines is 30 to 60 days from submission of complete documents to loan release. The most common delays come from incomplete paperwork or appraisal scheduling, which is why working with Nook helps — we proactively manage the process and flag missing documents early. Once the new bank releases the funds, your PBB loan is settled and you begin repaying your new lender at the lower rate.
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