UnionBank vs BDO

UnionBank vs BDO vs BPI: 2026 Housing Loan Rate Comparison at a Glance

All three banks are Nook partner banks, meaning you can apply to any or all of them through Nook at zero cost to you. Here's how their headline rates and key terms compare:

*Interest rates are subject to change. Please verify current rates with the bank or through Nook before applying.

Monthly Payment Comparison: How Much Do You Actually Pay?

To make the rate differences concrete, here are estimated monthly payments on a P3,000,000 home loan over 20 years at each bank's 1-year fixed rate. (Note: these are illustrative figures using the fixed rate as a proxy for the full amortization period — actual payments will vary as rates reprice.)

On a P3,000,000 loan, choosing BDO over UnionBank saves approximately 1,768 per month — or roughly 424,320 over 20 years. That's real money that stays in your pocket. If you're currently paying 8% or more at another bank, refinancing to even UnionBank's 7.00% could still represent meaningful savings. See how BDO and BPI compare head-to-head on housing loan terms if you've already narrowed it down to those two.

*Monthly payments are estimates based on a standard amortization formula. Actual payments depend on your final approved rate, loan amount, term, and bank fees.

Who Qualifies? Eligibility Compared Side by Side

Eligibility requirements can be just as important as the rate itself — especially if your income, employment type, or existing debt levels put you near the edge of approval.

UnionBank Home Loan Eligibility

• Minimum monthly income: P30,000 — the lowest of the three banks
• Max DTI ratio: 50% — the most flexible, useful if you carry other loan obligations
• Employment types accepted: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
• Loan purposes: Foreclosed, Home Equity, New Construction, Pre-Selling, RFO, Renovation, Reselling
• Note: UnionBank currently does not offer refinancing through Nook's platform

BDO Unibank Home Loan Eligibility

• Minimum monthly income: P50,000
• Max DTI ratio: 40%
• Employment types accepted: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
• Loan purposes: Home Equity, Foreclosed, New Construction, Pre-Selling, RFO, Renovation, Reselling, Refinancing
• Typical approval time: 30 days — the fastest of the three

BPI Family Savings Bank Home Loan Eligibility

• Minimum monthly income: P40,000
• Max DTI ratio: 40%
• Employment types accepted: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
• Loan purposes: Foreclosed, Home Equity, New Construction, Pre-Selling, RFO, Refinancing, Renovation, Reselling
• Typical approval time: 52 days

If you're an OFW or seafarer, all three banks accept your application — a major advantage of applying through Nook, which is experienced in handling OFW documentation requirements.

Refinancing: Which Banks Can You Switch To?

If your goal is to refinance an existing home loan to get a lower rate, this is a critical distinction: BDO and BPI both support refinancing, while UnionBank's current product lineup through Nook does not include refinancing.

Most Filipino homeowners refinancing in 2026 are coming from rates of 7% to 10% at their current bank. Refinancing to BDO's 6.00% or BPI's 6.70% can dramatically reduce monthly payments and total interest cost. Even refinancing to BPI at 6.70% from a 9% loan on P3,000,000 saves you more than 4,000 per month.

BPI also offers a 5-year fixed rate of 6.50% — an option not available at BDO or UnionBank — which can be attractive for borrowers who want rate stability beyond the standard 1-year repricing period. Explore a deeper comparison of BPI and UnionBank refinancing options if rate lock-in period is your primary concern.

Applying through Nook means our brokers will assess your current loan, income, and property details and recommend whether BDO or BPI is the better refinancing destination for your specific situation — all at no charge to you.

Home Equity Loans: Unlocking Your Property's Value

All three banks offer home equity loan products, allowing you to borrow against the appreciated value of your property for renovations, education, or other major expenses.

BDO once again leads with the lowest home equity rate at 6.00%. However, if you currently have your home loan with BPI or UnionBank, staying within the same bank for a home equity loan can sometimes simplify documentation and processing. Your Nook broker can help you evaluate whether switching banks for home equity is worth it in your case.

Which Bank Is Best for Each Type of Borrower?

• Best for lowest rate: BDO at 6.00% — ideal for borrowers earning at least P50,000/month who qualify and want to minimize total interest
• Best for lower income earners: UnionBank at P30,000 minimum income — the most accessible threshold among the three
• Best for high debt-to-income ratio: UnionBank at 50% max DTI — allows more of your income to be committed to existing obligations
• Best for rate lock-in stability: BPI with its 5-year fixed option at 6.50% — protects you from rate increases for five years
• Best for fast approval: BDO at approximately 30 days typical turnaround
• Best for refinancing: BDO (6.00%) or BPI (6.70%) — both support refinancing; UnionBank currently does not
• Best for OFWs and seafarers: All three banks accept OFW applications through Nook

Not sure which fits your situation? Nook's mortgage brokers compare all three banks against your profile simultaneously and recommend the best fit — completely free of charge.