If you have a Sterling Bank home loan, there's a good chance you're paying a rate well above what's available today. Nook can help you refinance to as low as 5.99% p.a. — for free.
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Why this matters
Sterling Bank home loan borrowers who locked in their rates a few years ago are often sitting on rates between 8% and 9.5% — rates that made sense at the time but look expensive compared to what's available in today's market. Refinancing means transferring your outstanding loan balance to a new lender offering a lower interest rate, which directly reduces your monthly amortisation and the total interest you pay over the life of the loan. For a 3,000,000 peso loan with 20 years remaining, dropping from 8.50% to 5.99% p.a. can save you hundreds of thousands of pesos in interest alone. You can check how today's refinance rates compare across lenders on Nook's current mortgage interest rates page.
The refinancing process involves a few key steps: Nook collects your loan details, shops your profile across multiple Philippine banks simultaneously, presents you with the best offers available, and guides you through the application from start to finish. Unlike going directly to a single bank, Nook gives you access to competitive offers from BDO, BPI, Security Bank, RCBC, Metrobank, and more — all in one place. Our service is completely free to borrowers; we are compensated by the bank only when your loan is successfully transferred.
Many homeowners hesitate to refinance because they assume the process is complicated or that the savings won't justify the effort. In reality, for most borrowers with loan balances above 1,500,000 pesos and more than 10 years remaining on their term, the math almost always works in their favour. If you're also considering a new home purchase or want to understand what other banks require, our guide to BPI housing loan requirements in the Philippines is a useful reference for what documents lenders typically ask for. Getting a refinance assessment through Nook takes less than five minutes and comes with no obligation.
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 transfer your outstanding Sterling Bank home loan balance to any participating bank that offers better terms. This is called a loan takeout or refinancing, and it is a standard, legal process in the Philippines. Nook helps you identify which bank will offer you the most competitive rate based on your current loan profile.
Savings depend on your remaining balance, current rate, and remaining term, but borrowers with a 3,000,000 peso balance moving from 8.50% to 5.99% p.a. over 20 years can save roughly 3,900 pesos per month — or over 700,000 pesos in total interest. Even borrowers with smaller balances or shorter remaining terms often find meaningful savings. Nook will calculate your personalised estimate before you commit to anything.
Some home loans include a prepayment or early settlement penalty, typically charged if you refinance within a fixed-rate lock-in period. You should review your loan agreement or contact Sterling Bank directly to confirm whether a penalty applies and how much it would be. Nook can help you factor any penalty into your savings calculation to make sure refinancing still makes financial sense for you.
The typical home loan refinancing process in the Philippines takes between 30 and 60 days from application to release of funds, depending on the receiving bank and how quickly documents are submitted. Nook streamlines the process by preparing your application and coordinating directly with the bank on your behalf. Delays are most commonly caused by incomplete documentation, so having your papers ready early makes a significant difference.
No — Nook's service is 100% free for borrowers. Nook earns a referral fee from the bank only after your loan is successfully transferred, which means our incentive is fully aligned with getting you the best possible outcome. You will never be asked to pay for a quote, an assessment, or any part of the application process.
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