If you took out a home loan with Tonik Bank, you could be paying more than you need to. Refinancing through Nook could save you over 58,000 pesos every year — and the whole process is free.
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Why this matters
Tonik Bank made waves as the Philippines' first digital-only bank, promising a slicker, app-first experience for everyday banking and lending. But a modern interface doesn't always mean the most competitive home loan rate. Many Tonik borrowers locked in rates between 8% and 9% during the bank's early growth phase — and with the refinancing market now offering rates as low as 5.99% p.a., there's a meaningful gap worth closing. Check today's mortgage interest rates in the Philippines to see exactly how your current rate stacks up.
Refinancing doesn't mean abandoning the digital convenience you signed up for. Through Nook, you can compare refinancing offers from multiple Philippine banks — including BDO, BPI, Security Bank, and others — entirely online, without stepping into a branch or paying a single centavo in broker fees. Nook handles the comparison, the paperwork coordination, and the lender negotiation on your behalf. You just choose the best offer.
The key question is simple: what is your remaining loan balance, and what rate are you currently paying? If the answer is somewhere above 7.5%, a refinance conversation is almost certainly worth having. Most homeowners who refinance through Nook recover any transition costs within 12 to 18 months, then enjoy lower payments for the remainder of their loan term. That's a straightforward financial win — and one that's easier to act on than most people expect.
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. Refinancing means a new lender pays off your existing Tonik loan balance, and you begin repaying the new lender under better terms. Most major Philippine banks — including BPI, BDO, Security Bank, and Metrobank — actively compete for refinancing customers and will assess your application based on your property value, income, and repayment history, not which bank you originally borrowed from.
It depends on your outstanding balance and current rate, but the numbers can be significant. On a 3,000,000 peso loan at 8.50%, refinancing to 5.99% over a 20-year term could reduce your monthly payment by over 3,000 pesos — that's more than 37,000 pesos saved in the first year alone. The longer your remaining term, the more the savings compound over time.
Yes, Nook's service is 100% free to you as the borrower. Nook earns a referral fee from the bank you ultimately choose, which means you get independent expert guidance, rate comparisons, and application support at no cost. There are no hidden fees, no consultation charges, and no obligation to proceed after seeing your options.
You'll typically need your latest Statement of Account from Tonik (showing your outstanding balance and current rate), proof of income such as payslips or ITR, a copy of your Transfer Certificate of Title, and a recent tax declaration for the property. Nook will walk you through exactly what each lender requires once you submit your initial details — the process is more straightforward than most people expect.
From application to loan release, refinancing typically takes four to eight weeks depending on the lender and how quickly documents are submitted and verified. Nook helps keep things moving by coordinating directly with your chosen bank on your behalf. Choosing a lender with a streamlined process — which Nook can guide you toward — can make a meaningful difference to your timeline.
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