Tonik Bank changed how Filipinos save — but when it comes to your home loan, you could be paying thousands more than necessary every month. Nook connects you to lenders offering rates as low as 5.99% p.a., completely free.
YOUR POTENTIAL MONTHLY SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
Tonik Bank made waves as the Philippines' first digital-only bank, offering slick app-based savings products and personal loans. But if you took out a home loan through a traditional bank before discovering the digital revolution, there's a good chance your mortgage rate hasn't kept up with the times. Many Filipino homeowners are still locked into rates of 8% to 10% — rates that made sense years ago but look very different compared to what's available in the market today. Understanding where you stand starts with checking current mortgage interest rates in the Philippines.
Refinancing is the straightforward fix: you replace your existing home loan with a new one at a lower interest rate, reducing your monthly payment and freeing up cash every single month. On a 3,000,000 peso loan, moving from 8.50% down to 5.99% can mean saving over 3,000 pesos per month — money that could go toward your emergency fund, your children's education, or simply breathing a little easier. The process sounds complicated, but with Nook as your mortgage broker, the heavy lifting is done for you at zero cost to you as the borrower.
Nook works with all major Philippine banks — BDO, BPI, Metrobank, Security Bank, and more — to find you the best refinancing deal available. Whether your current loan is with a big traditional bank or you're simply exploring your options after embracing digital finance, Nook gives you the same transparent, comparison-driven experience you'd expect from a modern fintech platform. If you're weighing which bank to refinance with, it helps to understand lender requirements upfront — resources like the BPI housing loan requirements guide can give you a clear picture of what to prepare before you apply.
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
Tonik Bank does not currently offer home loans as a primary product, so most homeowners with a mortgage will be refinancing away from a traditional bank. If you have a personal loan or other product with Tonik, that won't affect your eligibility to refinance your home loan through Nook with a partner bank.
Nook is a digital mortgage broker that compares offers from multiple Philippine banks on your behalf and helps you through the entire application process. The service is completely free for borrowers — Nook is compensated by the bank once your loan is successfully processed, so you pay nothing out of pocket.
The best refinancing rate currently available through Nook is 5.99% p.a., though your actual rate will depend on factors like your loan amount, remaining term, property value, and the lending bank's assessment. Most homeowners refinancing today are coming from rates between 7% and 10%, so the savings opportunity is significant.
The typical refinancing timeline in the Philippines is four to eight weeks from completed application to loan release, depending on the bank and how quickly documents are submitted. Nook helps you prepare everything correctly the first time, which significantly reduces back-and-forth delays.
Refinancing is a standard financial transaction and, when handled correctly, does not negatively impact your credit standing — in fact, lower monthly obligations can improve your overall financial profile. Your relationship with any existing bank account or savings product remains completely independent of your home loan refinancing.
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