Filipino homeowners with PSBank home loans are often paying rates between 7% and 10% per year — Nook can help you refinance to as low as 5.99% p.a. for free.
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Why this matters
PSBank (Philippine Savings Bank) offers home loans to Filipino borrowers, but like many traditional banks, their standard mortgage rates — typically ranging from 7% to 10% per annum depending on the fixing period — can leave homeowners overpaying for years without realising it. If you took out your PSBank home loan two or more years ago, there's a strong chance you're no longer on the most competitive rate available in the market today. Please note that the rates shown here are approximate, based on publicly available information, and are subject to change — always verify current rates directly with PSBank.
Refinancing means replacing your existing PSBank mortgage with a new loan from a lender offering a lower interest rate. This can dramatically reduce your monthly amortisation and free up cash for other financial goals. Through Nook, you can compare verified, up-to-date rates from multiple partner banks in one place — without paying a single peso in broker fees. If you're unsure whether refinancing is right for your situation, our guide on how to compare better alternative rates for PSBank home loans walks you through the key factors to consider.
The process is simpler than most homeowners expect. Nook handles the comparison, paperwork coordination, and bank communication on your behalf — all at no cost to you. Whether your remaining loan term is 10, 15, or 20 years, even a 1.5 to 2.5 percentage point reduction in your interest rate can translate to hundreds of thousands of pesos in total savings. Learn more about the full process in our overview of refinancing your PSBank housing loan and take the first step toward a lower monthly payment today. Interest rates are subject to change and all borrowers should verify current rates before making any financial decisions.
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
Most homeowners are eligible to refinance if they have been paying their existing mortgage for at least 12 to 24 months and have a good repayment history. The property must also have sufficient remaining equity and be fully titled. Nook can do a quick eligibility check for free before you commit to anything.
Through Nook's partner banks, the best available refinance rate is currently 5.99% per annum, compared to the typical 7% to 10% range that many PSBank borrowers are on. The exact rate offered to you will depend on your loan amount, remaining term, property value, and credit profile. Note that all rates are subject to change and should be confirmed at the time of application.
No — Nook's service is completely free for borrowers. Nook is compensated by the partner bank once your refinance is successfully completed, so there is no broker fee or consultation charge passed on to you. You will still need to account for standard bank processing and legal fees as part of the refinancing transaction.
The refinancing process in the Philippines generally takes between 30 and 90 days from application to loan release, depending on how quickly documents are submitted and how fast the new bank processes the application. Nook helps keep things moving by guiding you through each step and following up with the bank on your behalf.
It can still be worth it, depending on how much your rate drops and what the associated switching costs are. On a 3,000,000 peso loan with 10 years remaining, reducing your rate by even 1.5 percentage points could save you well over 200,000 pesos in total interest. Nook can run a personalised calculation to help you decide if the numbers make sense for your situation.
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