If you took out a home loan with Tonik or any other bank, you could be paying far more than necessary. Refinancing through Nook could cut your monthly payment by thousands of pesos — with zero fees to you.
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Why this matters
Tonik Bank made waves as the Philippines' first digital-only bank, promising a slick app experience and competitive deposit rates. But when it comes to home loan refinancing, digital-first doesn't always mean lowest rate. Many Tonik home loan borrowers are still sitting on rates between 8% and 9.5% — rates that may have seemed reasonable at the time but are now costing them tens of thousands of pesos every year compared to what's available in the market today. See the latest mortgage interest rates in the Philippines to understand just how much the landscape has shifted.
Refinancing your home loan doesn't mean abandoning the digital convenience you love. Through Nook — the Philippines' first digital mortgage broker — you can compare refinancing offers from multiple banks entirely online, without ever visiting a branch. Nook's technology matches your loan profile to the best available rates, which currently start as low as 5.99% p.a. That difference in rate on a 3,000,000 peso loan over a 20-year term translates to real, meaningful savings every single month. And because Nook is 100% free for borrowers, there's no reason not to check what you qualify for.
The refinancing process is more straightforward than most homeowners expect. Once Nook identifies your best match, you'll submit documents to a single lender — no need to shop around yourself or negotiate with bank officers. Whether your current loan is with Tonik, BDO, Security Bank, or any other lender, Nook can help you move to a better rate. The key requirements are that your property title is in order, your loan balance is at least 1,000,000 pesos, and you've been making repayments consistently. If that sounds like you, a lower rate could be just weeks away.
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 taking out a new loan with a different lender to pay off your existing Tonik home loan — you're not locked in. Nook works with multiple Philippine banks and can help you find the one offering the most competitive rate for your loan profile.
The best refinancing rate currently available through Nook is 5.99% p.a., which is significantly lower than the 8–9.5% range many Tonik borrowers are currently on. Your exact rate will depend on your loan amount, remaining term, and credit profile, but Nook will show you real offers before you commit to anything.
Nook's service is completely free for borrowers — there are no broker fees, application fees, or hidden charges on Nook's side. Standard bank processing and appraisal fees from the new lender may apply, but Nook will make these transparent upfront so you can factor them into your savings calculation.
The typical refinancing timeline in the Philippines is four to eight weeks from application to loan release, depending on how quickly documents are submitted and how fast the new bank processes your application. Nook helps streamline this by guiding you through each step and following up with lenders on your behalf.
You'll generally need your property title (TCT or CCT), the latest tax declaration, a copy of your existing loan statement, proof of income (payslips or ITR), and valid government IDs. Requirements vary slightly by bank — see BPI's full requirements checklist as an example of what a major lender typically asks for. Nook will give you a tailored document checklist once you submit your details.
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