Many Filipino homeowners with Tonik Bank are paying 8.50% or more on their home loans — Nook can help you refinance to as low as 5.99% p.a. and keep more money in your pocket every month.
POTENTIAL MONTHLY SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
Tonik Bank entered the Philippine market as a bold digital challenger, promising a seamless, app-first banking experience. While they have carved out a niche in personal finance, their home loan products often carry interest rates that sit at the higher end of the market — typically ranging from 8% to 9.50% p.a. If you took out a housing loan with Tonik in its early years, there's a strong chance the rate you're currently paying is no longer competitive compared to what traditional and universal banks are now offering. You can check how your rate stacks up against current mortgage interest rates in the Philippines to see exactly where you stand.
Refinancing doesn't mean abandoning digital convenience. In fact, Nook is the Philippines' first fully digital mortgage broker — so you get the best of both worlds: the low rates offered by established banks like BPI, Security Bank, BDO, and RCBC, combined with a 100% online application process that you can complete from your phone. Nook compares multiple lenders simultaneously, handles the paperwork, and guides you through every step at zero cost to you. There are no broker fees, no hidden charges, and no obligation to proceed until you're fully satisfied with the offer. If you're evaluating options, it's worth reviewing what BPI's housing loan requirements look like — they are frequently among the most competitive lenders on Nook's panel.
For a ₱3,000,000 loan with 20 years remaining at 8.50%, you're currently paying around ₱26,035 per month. Refinancing to 5.99% p.a. through Nook brings that down to approximately ₱21,185 — a saving of nearly ₱4,850 every single month. Over the life of the loan, that's close to ₱873,000 that stays in your family's hands instead of going to the bank. Whether you're motivated by lower monthly repayments, a shorter loan term, or simply getting a fairer deal, refinancing through Nook is one of the most impactful financial moves a Filipino homeowner can make right now.
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 from Tonik to a traditional or universal bank is a straightforward process and is one of the most common reasons borrowers come to Nook. As long as your loan has been active for at least 12 months and your property title is clean, you are generally eligible to refinance with a new lender.
Tonik offers a fully app-based experience, but Nook matches that convenience while giving you access to a much wider range of lenders and significantly lower rates. Nook's entire process — from comparison to approval — is handled digitally, and our team of mortgage specialists supports you at every stage for free.
Refinancing typically involves a few one-time costs such as appraisal fees, documentary stamp tax, and registration fees — usually totalling 1% to 2% of the loan amount. However, these costs are almost always recovered within the first year of lower monthly repayments, and Nook's service itself is completely free to borrowers.
Most refinancing applications through Nook are completed within 30 to 45 business days, depending on the receiving bank and how quickly documents are submitted. Nook coordinates directly with the bank on your behalf, which significantly reduces back-and-forth and speeds up the process compared to applying on your own.
The best available rate through Nook is currently 5.99% p.a., though the exact rate you qualify for will depend on your loan amount, remaining term, property location, and credit profile. Nook submits your application to multiple banks simultaneously and presents you with the best offers, so you're always getting the most competitive deal available in the market.
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