Comparing Sterling Bank vs Tonik home loan options? Both promise digital convenience — but Nook can show you how refinancing could save you over 58,000 a year on a 3,000,000 loan.
ESTIMATED ANNUAL SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
Digital banks like Sterling Bank and Tonik have made headlines in the Philippines for their slick apps and fast approval promises — but when it comes to home loans, the rate you're quoted at the start rarely stays competitive over the life of your mortgage. Many Filipino homeowners who signed up for digital bank home loans in recent years are now rolling off introductory periods and finding themselves locked into rates of 8% or higher. Before you assume your current bank is still giving you a good deal, it's worth checking current mortgage interest rates in the Philippines to see what the market actually looks like today.
Nook is the Philippines' first digital mortgage broker, and our job is to compare rates across all major lenders — traditional banks and digital challengers alike — to find you the lowest available rate. Right now, the best refinance rate available through Nook is 5.99% p.a. On a 3,000,000 loan with 20 years remaining, moving from a typical 8.50% rate to 5.99% could reduce your monthly payment significantly and save hundreds of thousands of pesos over the life of your loan. The best part? Nook's service is completely free to borrowers — we're paid by the bank, not by you.
Whether you originally took out your loan with a digital bank or a traditional lender, refinancing is open to you as long as your property and finances meet standard bank criteria. If you're also considering switching to a major traditional bank like BPI as part of your refinance, our BPI housing loan requirements guide is a useful reference for what documents and qualifications you'll need to prepare. Nook handles the comparison and application process end-to-end, so you can focus on saving money rather than paperwork.
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
Both Sterling Bank and Tonik are BSP-licensed digital banks operating in the Philippines, though their home loan products and availability may vary or change over time. It's always worth verifying their current offerings directly, as digital banks sometimes adjust or pause certain products. Nook can help you compare whatever rates they're currently offering against the full market.
Digital bank home loans often have introductory rates that reprice after a fixed period — sometimes jumping significantly. If your current rate is above 7%, you're likely paying more than you need to. Refinancing through Nook lets you access rates as low as 5.99% p.a., which can translate to tens of thousands of pesos in monthly savings.
Nook's service is 100% free to borrowers — there are no broker fees or hidden charges on our end. You will still encounter standard bank fees such as appraisal and legal costs, but Nook will walk you through exactly what to expect before you commit to anything.
Yes, as long as your property title is clean and your loan is in good standing, you can refinance from a digital bank to any traditional bank that Nook works with. The process is the same as refinancing from any other lender. Nook will assess your situation and match you with the best available offer.
The typical refinancing timeline in the Philippines runs between 30 to 60 days, depending on how quickly documents are submitted and how fast the new bank processes the appraisal. Nook streamlines the process significantly by managing communication with the bank on your behalf and making sure your application is complete before submission.
Check your exact savings in 60 seconds. It's free and takes no commitment.
Check My Savings Now →