PSBank vs Tonik Home Loan: Quick Overview
PSBank (Philippine Savings Bank), a subsidiary of Metrobank, is one of the Philippines' established thrift banks with a long track record in consumer lending including home loans. Tonik, on the other hand, is the Philippines' first licensed digital-only bank, known for high-yield deposits and personal loans — but its home loan product is a newer, app-based offering targeting digitally savvy borrowers.
Before diving into the comparison, it's important to note: rates shown for both PSBank and Tonik are approximate figures based on publicly available information and are subject to change. Always verify current rates directly with the bank or through a licensed mortgage broker like Nook.
Interest Rate Comparison
| Feature | PSBank | Tonik | Nook (Best Available) |
|---|---|---|---|
| Indicative Rate (p.a.) | ~7.50% – 9.50% | ~6.99% – 10.00% | From 5.99% |
| Rate Type | Fixed (1–5 yr repricing) | Fixed (short-term) | Fixed (varies by bank) |
| Rate Verification | Approximate / public info | Approximate / public info | Verified & current |
Disclaimer: PSBank and Tonik rates above are based on publicly available information and general market knowledge. They are approximate and subject to change without notice. Nook's 5.99% p.a. rate reflects the best currently available rate through its partner bank network as of the time of writing.
What this means for your monthly payment
To illustrate the impact of rate differences, here's a sample comparison on a 3,000,000 loan over 20 years:
| Rate | Est. Monthly Payment | Total Interest Paid |
|---|---|---|
| 9.50% (PSBank upper range) | ~27,964 | ~3,711,360 |
| 8.50% (midpoint estimate) | ~26,035 | ~3,248,400 |
| 6.99% (Tonik lower range) | ~23,243 | ~2,578,320 |
| 5.99% (Nook best rate) | ~21,491 | ~2,157,840 |
At 5.99% versus 8.50%, a borrower on a 3,000,000 loan could save approximately 1,090,560 in total interest over 20 years. That's money back in your pocket — and Nook's service is 100% free to you.
Loan Features & Eligibility
| Feature | PSBank | Tonik |
|---|---|---|
| Minimum Loan Amount | ~500,000 | ~500,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Varies (app-based assessment) |
| Loan Tenure | Up to 20 years | Up to 20 years |
| Property Types | House & lot, condo, townhouse | House & lot, condo |
| Application Process | Branch or online | Fully digital (app) |
| OFW Eligibility | Yes (with conditions) | Limited / subject to assessment |
| Refinancing Available | Yes | Limited / verify directly |
All features above are based on publicly available information and may have changed. Confirm current eligibility requirements with each bank directly.
Fees & Charges
Both PSBank and Tonik typically charge standard home loan processing fees. These may include appraisal fees, documentary stamp tax, mortgage registration fees, and notarial fees. The exact amounts vary by loan size and property location.
| Fee Type | PSBank | Tonik |
|---|---|---|
| Processing Fee | Varies (approx. 5,000 – 10,000) | Varies / may be waived on promo |
| Appraisal Fee | Charged to borrower | Charged to borrower |
| Early Termination Fee | Typically applies within lock-in period | Verify directly with Tonik |
| Broker Fee (via Nook) | FREE | FREE |
When refinancing through Nook, you pay zero broker fees. Nook is compensated by the partner bank, not the borrower.
Application Experience
PSBank
PSBank offers a relatively traditional home loan application process backed by its nationwide branch network. Borrowers can apply in-branch or initiate an application online. As a Metrobank subsidiary, PSBank has the infrastructure and experience to handle complex home loan cases. However, processing times can vary, and multiple in-person visits may be required. If you've been comparing PSBank against other options, you might also find our PSBank vs SB Finance comparison useful for additional context on PSBank's positioning.
Tonik
Tonik is designed for the digital-first borrower. Its home loan application is handled primarily through the Tonik app, which can be appealing if you prefer to avoid branch visits. However, as a newer product offering, Tonik's home loan has less of a track record compared to established thrift banks. Borrowers with complex income situations (e.g., OFWs, self-employed) may find the fully digital process limiting.
Refinancing with Nook
Nook handles the entire refinancing process on your behalf — from comparing rates across multiple partner banks to preparing your application documents. It's a streamlined, guided experience that saves time and eliminates the hassle of shopping around yourself. And because Nook works with multiple banks, you're not locked into any single lender's product.
Who Should Consider Each Option?
- PSBank may suit borrowers who prefer dealing with an established thrift bank with a physical branch network, especially existing Metrobank Group customers.
- Tonik may appeal to tech-savvy borrowers comfortable with a fully digital process and who meet Tonik's specific eligibility criteria.
- Nook is ideal for any homeowner looking to refinance and get the best possible rate without paying any broker fees — Nook shops across multiple banks so you don't have to.
If you're also evaluating digital and alternative lenders more broadly, our CIMB vs PBCOM comparison offers a look at how other non-traditional banks stack up on home loan rates.
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Compare My Options →Frequently Asked Questions
Is PSBank a good option for home loan refinancing?
PSBank can be a reasonable option for refinancing, especially if you're already a customer within the Metrobank Group. However, its rates are approximate at 7.50%–9.50% p.a. based on publicly available information, and may not be the most competitive available. Through Nook, you may be able to access verified rates starting at 5.99% p.a. at no cost to you. Always compare before committing.
Does Tonik offer home loan refinancing?
Tonik's home loan product is relatively new and primarily designed for purchase or construction. Its refinancing eligibility and terms should be confirmed directly with Tonik, as the product is still evolving. If refinancing is your primary goal, working with a broker like Nook who has access to multiple established lenders may give you more options.
What is the lowest home loan refinance rate available in the Philippines right now?
Through Nook, the best currently available refinance rate is 5.99% p.a. This is a verified rate from a Nook partner bank. Most Filipino homeowners are currently paying between 7% and 10%, so refinancing could result in significant monthly and long-term savings. Nook's service is 100% free to the borrower.
How much can I save by refinancing from 8.50% to 5.99%?
On a 3,000,000 loan over 20 years, refinancing from 8.50% to 5.99% p.a. could reduce your monthly payment from approximately 26,035 to 21,491 — a monthly saving of around 4,544. Over the full loan term, that adds up to approximately 1,090,560 in total interest savings.
Is Nook's mortgage brokering service really free?
Yes. Nook is 100% free for borrowers. Nook earns a referral fee from its partner banks when a loan is successfully placed — this is standard practice in mortgage brokering and does not affect the rate you receive. You get expert guidance and access to multiple lenders without paying anything out of pocket.
What documents do I need to refinance my home loan?
Generally, you'll need proof of identity (valid government IDs), proof of income (payslips, ITR, or audited financial statements for self-employed), your existing loan statement of account, the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), and a copy of your tax declaration. Nook's team will guide you through the exact requirements for your chosen bank.
How does PSBank compare to other thrift banks for home loans?
PSBank is one of the larger thrift banks in the Philippines and generally considered reliable. However, its rates may not always be the sharpest in the market. If you're evaluating PSBank against other options, our detailed Philippine Business Bank vs PSBank comparison provides additional perspective on how PSBank stacks up against a direct competitor.