Interest Rates Comparison
UnionBank Housing Loan Rates
- 1-Year Fixed Rate: 7.00%
- Home Equity Loan: 7.00%
Competitive rates with flexible terms for various loan purposes.
BPI Family Savings Bank Rates
- 1-Year Fixed Rate: 6.70%
- 5-Year Fixed Rate: 6.50%
- Home Equity Loan: 6.70%
Lower rates with multiple fixed-rate options for better planning.
Income Requirements & Eligibility
UnionBank Requirements
- Minimum Monthly Income: ₱30,000
- Maximum Debt-to-Income: 50%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
BPI Family Savings Bank Requirements
- Minimum Monthly Income: ₱40,000
- Maximum Debt-to-Income: 40%
- Typical Approval Time: 52 days
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
Loan Purposes & Features
UnionBank Loan Purposes
- Foreclosed Properties
- Home Equity Loans
- New Construction
- Pre-Selling Units
- Ready For Occupancy (RFO)
- Renovation Projects
- Reselling Properties
BPI Family Savings Bank Purposes
- Foreclosed Properties
- Home Equity Loans
- New Construction
- Pre-Selling Units
- Ready For Occupancy (RFO)
- Refinancing Existing Loans
- Renovation Projects
- Reselling Properties
✓ Includes refinancing options for existing homeowners
Sample Monthly Payment Comparison
Based on ₱3,000,000 loan amount, 20-year term
UnionBank (7.00%)
Monthly Payment: ₱23,273
Total Interest: ₱2,585,520
BPI Family Savings Bank (6.50%)
Monthly Payment: ₱22,508
Total Interest: ₱2,401,920
Save ₱765/month, ₱183,600 total
Why Choose Through Nook
- Free Broker Service: No fees to compare and apply to both banks
- Expert Guidance: Get personalized advice on which bank suits your profile
- Streamlined Process: Single application for multiple bank options
- Rate Negotiation: Leverage our bank relationships for better terms
Both UnionBank and BPI Family Savings Bank are trusted Nook partners. Apply through our platform to access exclusive rates and professional support throughout your loan journey.
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Compare My Options →Frequently Asked Questions
What are the current UnionBank housing loan interest rates?
UnionBank currently offers 7.00% for both 1-Year Fixed Rate and Home Equity loans through Nook's partner network. These rates are competitive and subject to approval based on your credit profile and income.
How do UnionBank rates compare to BPI Family Savings Bank?
BPI Family Savings Bank offers slightly lower rates at 6.50%-6.70%, while UnionBank provides better accessibility with lower minimum income requirements (₱30,000 vs ₱40,000) and higher allowable debt-to-income ratios (50% vs 40%).
What is the minimum income requirement for UnionBank housing loans?
UnionBank requires a minimum monthly income of ₱30,000, making it more accessible than many competitors. They also accept various employment types including private employees, government workers, BPO staff, OFWs, self-employed individuals, and professionals.
Can I use UnionBank loans for refinancing my existing home loan?
UnionBank's product information doesn't specifically mention refinancing, but they offer home equity loans which can serve similar purposes. For dedicated refinancing options, BPI Family Savings Bank explicitly offers refinancing services with competitive rates.
What documents do I need for a UnionBank or BPI housing loan application?
Both banks typically require proof of income (payslips, ITR, bank statements), valid IDs, property documents, and employment verification. Specific requirements may vary by employment type and loan purpose. Nook can help you prepare the complete document checklist for both banks.
How long does the approval process take for each bank?
BPI Family Savings Bank has a typical approval time of 52 days. UnionBank's approval timeline wasn't specified, but processing times generally depend on document completeness and property verification. Applying through Nook can help expedite the process with both banks.