If you have a Sterling Bank home loan, there's a good chance you're paying more than you need to. Nook can help you compare better rates from top Philippine banks — for free.
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Why this matters
Sterling Bank borrowers often find themselves locked into rates that made sense at signing but no longer reflect what's available in today's market. With refinance rates now as low as 5.99% p.a. through Nook, homeowners carrying an 8.50% rate on a 3,000,000 loan could be saving over 3,000 pesos every single month. That's money that could go toward your family, your home, or building savings — not your bank's bottom line. You can check current mortgage interest rates in the Philippines to see exactly how your existing rate stacks up.
Refinancing doesn't have to be complicated or expensive. Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers. We do the legwork of comparing offers from BDO, BPI, Security Bank, Metrobank, RCBC, and other leading Philippine lenders so you don't have to approach each bank individually. Whether you've been with Sterling Bank for two years or ten, it costs nothing to find out if a better deal is waiting for you.
The process starts with a quick check of your loan details, and Nook's team guides you through every step — from document preparation to final approval. Most homeowners are surprised at how straightforward switching can be, especially with a dedicated broker managing the coordination. If you're also exploring what moving to a major bank looks like, our BPI housing loan requirements guide is a helpful reference for understanding what lenders typically look for.
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 with any bank or lender that accepts your property and meets your loan criteria. Refinancing simply means taking a new loan from a different lender to pay off your existing Sterling Bank balance, ideally at a lower interest rate. Nook helps you compare multiple offers at once so you can choose the best fit.
It depends on your outstanding balance, remaining term, and the rate difference between your current loan and what's available today. On a 3,000,000 loan at 8.50%, switching to 5.99% could save you over 3,000 pesos per month and more than 550,000 pesos over the life of the loan. Use Nook's free calculator to get a personalised estimate based on your actual figures.
Many home loans include a pre-termination or early settlement fee, which is typically applied if you refinance within a fixed-rate lock-in period — often the first three to five years. You'll want to check your loan agreement or contact Sterling Bank directly to confirm any applicable charges. Even with a penalty, the long-term savings from a lower rate often outweigh the one-time cost.
You'll generally need government-issued ID, proof of income (payslips or ITR), your latest loan statement from Sterling Bank, a copy of your title (TCT or CCT), and tax declaration documents for the property. Nook will walk you through the exact checklist based on which lender you're applying with. Having these ready in advance can significantly speed up processing time.
The typical refinancing timeline in the Philippines runs between four to eight weeks from application to loan release, depending on the lender and how quickly documents are submitted. Nook helps streamline this by coordinating directly with the bank on your behalf, reducing back-and-forth delays. Starting the process early gives you the most flexibility and negotiating room.
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