If you have a Sterling Bank of Asia home loan, you could be paying thousands more per month than necessary. Nook helps you transfer to a lender offering rates as low as 5.99% p.a. — for free.
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Why this matters
Sterling Bank of Asia is a mid-sized thrift bank that offers housing loans, but their rates are rarely the most competitive in the market. If you took out your Sterling Bank home loan a few years ago, the rate you locked in then may now be significantly higher than what the country's major banks are currently offering. Current mortgage interest rates in the Philippines have shifted, and many borrowers are discovering they can save substantially by switching lenders through a bank transfer refinance.
Refinancing your Sterling Bank home loan is simpler than most people expect. You don't need to sell your property or start over — a bank transfer (also called a loan takeout) means a new lender pays off your existing Sterling Bank balance, and you begin making lower monthly payments to your new bank under a better rate. Nook works with all major Philippine banks and lenders to find you the most competitive offer based on your outstanding loan amount, remaining term, and property type. Our service costs you nothing — Nook is paid by the bank, not the borrower.
The typical Sterling Bank borrower refinancing through Nook has a remaining loan balance of around 3,000,000 pesos and 15 to 20 years left on their term. At an old rate of 8.50% versus Nook's best available rate of 5.99%, the monthly difference is significant — and compounds into life-changing savings over the life of the loan. If you're unsure which bank to transfer to, Nook compares options from BPI, BDO, Security Bank, RCBC, and more to find the right fit for your situation.
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. Bank-to-bank home loan transfers — also called loan takeouts or refinancing — are a standard financial product in the Philippines. A new lender pays off your existing Sterling Bank balance, and you continue repaying under a new, lower interest rate. There are no restrictions that lock you into staying with Sterling Bank of Asia.
Refinancing does involve some costs, typically including a documentary stamp tax, appraisal fee, and processing fees from the new lender — these usually range from 30,000 to 60,000 pesos depending on your loan amount. However, for most borrowers, these one-time costs are recovered within the first year of lower monthly payments. Nook's brokerage service itself is completely free to you.
The process typically takes between 30 and 60 banking days from the time you submit your complete documents to a new lender. This includes the bank's credit evaluation, property appraisal, and coordination with Sterling Bank for the loan payoff. Nook helps manage the timeline and keeps you updated at every step.
The best bank depends on your loan amount, income type, employment status, and property location. Major banks like BPI, BDO, Security Bank, and RCBC are popular choices — you can explore BPI's housing loan requirements as a starting point. Nook compares live offers from multiple lenders and recommends the one that gives you the lowest rate and most favorable terms for your specific profile.
You'll generally need a copy of your latest Sterling Bank loan statement, your Transfer Certificate of Title (TCT), a tax declaration, proof of income (payslips or ITR), and valid government-issued ID. Nook provides a complete document checklist once you submit your inquiry, so you'll know exactly what to prepare without any guesswork.
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