If you have a Tonik Bank home loan — or you're considering moving your mortgage there — it pays to compare rates first. Nook can help you find the lowest rate available, completely free.
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Why this matters
Tonik Bank is the Philippines' first digital-only bank, and it has brought a fresh, app-first approach to personal finance. While Tonik has made waves in deposits and personal loans, Filipino homeowners with existing mortgages — whether at Tonik or at a traditional bank — are increasingly exploring refinancing as a way to reduce their monthly burden. With rates at some lenders still sitting between 7% and 10%, the gap between what you're paying and what's available today can translate to hundreds of thousands of pesos over the life of your loan. You can check current mortgage interest rates in the Philippines to see exactly where the market stands right now.
Refinancing works by transferring your outstanding home loan balance to a new lender offering a lower interest rate. For a loan of 3,000,000 pesos on a 20-year term, moving from 8.50% down to Nook's best available rate of 5.99% cuts your monthly payment by over 3,000 pesos — that's real money back in your pocket every single month. The total interest savings over the remaining loan term can exceed 500,000 pesos, which is why more Filipino homeowners are choosing to refinance rather than simply continue paying their current lender's rates.
Nook is the Philippines' first digital mortgage broker, and our service is 100% free to borrowers. We compare offers from BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, and more to find the deal that fits your situation — whether you want to move away from Tonik or bring your loan there. We handle the paperwork, coordinate with the banks, and guide you through every step of the process. There's no obligation to proceed, and no cost to you at any point.
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 home loan balance from Tonik Bank to another lender offering a lower interest rate — this is called refinancing or mortgage transfer. Nook works with multiple Philippine banks and can help you find the most competitive rate available for your loan amount and remaining term. The process is straightforward and Nook handles the coordination with both your current and new lender.
Tonik Bank's core product lineup has focused on deposits and personal credit rather than traditional home mortgage products, so it's worth verifying their current home loan offerings directly. If you're looking to refinance into a bank with competitive mortgage rates, Nook compares offers from over a dozen Philippine lenders to find you the best available deal. We'll match you with the right lender based on your property type, loan amount, and financial profile.
Based on a 3,000,000 peso loan with 20 years remaining, moving from a rate of 8.50% to Nook's best available rate of 5.99% saves approximately 3,069 pesos per month. That adds up to over 36,000 pesos in the first year alone, and more than 550,000 pesos over the full remaining loan term. Your exact savings will depend on your outstanding balance, remaining term, and the rate you qualify for.
Nook's service is completely free for borrowers — we are compensated by the bank when your loan is successfully transferred, so you never pay a brokerage fee. You will still be responsible for standard bank processing fees and third-party costs like appraisal and notarial fees, but our guidance and comparison service costs you nothing. There's also no obligation to proceed after your free assessment.
Standard requirements include a valid government-issued ID, proof of income (payslips or ITR for the past two years), your existing loan statement of account, and the title and tax declaration for your property. Requirements can vary slightly between lenders — for example, you can review the BPI housing loan requirements as a benchmark for what most major banks expect. Nook will give you a tailored checklist once we assess your specific situation.
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