Home » Home Loans » Best Home Loans In The Philippines – Interest Rates Comparison Chart (June 2015)

Best Home Loans In The Philippines – Interest Rates Comparison Chart (June 2015)

With so many banks and lending institutions out there, it would be nice if you can easily know which one offers the best home loans in the Philippines.

This has been a challenge for me when I’m asked which bank has the cheapest mortgage rates (and whether it is better to get a loan from a bank or Pag-IBIG) and I couldn’t give a straight answer. Not anymore!

After much research and effort, we finally have our very own mortgage and home loans in the Philippines with interest rates comparison chart which compares all available home loans and mortgage rates here in the Philippines (this is a work in progress… more on this later), including Pag-IBIG and other lending institutions (coming soon).

Finding the best home loans in the Philippines just got easier

If you want to know where to get the cheapest mortgage rates and lowest home loan rates, just click on the “Lowest Interest Rate” column header below to sort from the lowest to the highest.

Go ahead, try it out. You can also click on the details to enlarge.

Home Loans In The Philippines Interest Rates Comparison Chart (as of June 04, 2015)

Bank / Lending InstitutionLowest Interest RateDetailsWhere to get more info
Allied Bank6.0%
Fixing PeriodInterest Rate
1 year Fixed6.00%
2 - 3 years Fixed7.50%
4 - 5 years Fixed8.00%
10 years Fixed10.00%
15 years Fixed10.50%
20 years Fixed11.00%
Updated as of February 11, 2015

Source: Allied Bank Website
Banco De Oro (BDO)7.0%
Fixing PeriodInterest Rate
1 to 3 years7.00% p.a.
4 to 5 years8.00% p.a.
6 to 10 years10.00% p.a.
11 to 15 years  11.25% p.a.
16 to 20 years  11.50% p.a.
Updated as of February 11, 2015

Source: BDO Website
Tenor (Housing Loan)Interest Rates
1-2 years6.00%
3 years6.25%
4-5 years6.88%
7-10 years8.50%
Over 15 years11.55%
Updated as of February 11, 2015

Source: BPI Website
EastWest Bank7.5%1st year fixing at 7.5%, 30 year tenor,
for loans starting at P1.5M
Source: EastWest Bank Flyer
5.50% per annum1-year re-pricing
7.75% per annumfixed for the first 5 years
Updated February 11, 2015

Source: HSBC Website
Metrobank Regular Rates
Fixing PeriodNew Bookings RateRepricing Rate
1-year fixing6.00%6.50%
2-year fixing7.00%7.50%
3-year fixing7.00%7.50%
4-year fixing7.50%8.00%
5-year fixing8.00%8.50%
6-10 year fixing9.50%10.00%
11-15 year fixing10.50%11.00%
Source: Metrobank Acropolis Branch as of February 2015

Note: According to the bank officer that gave this to me, these are regular rates for loans booked on or before October 30, 2014, but the rates were still applicable. However, just like all the rates on this page, they are all subject to change without prior notice.
Pag-IBIG4.5%Pag-IBIG Affordable Housing Program Interest Rates (HDMF Circular 312)
Fixed PeriodInterest Rates
Applicable to End-User Financing Program (Effective June 1, 2015)
For more details, please refer
to the following Pag-IBIG
Philippine National Bank (PNB)5.25%
Interest Rate (Welcome rates*)Fixing period
5.25%fixed for 1 year
6.25%fixed for 2-3 years
6.75%fixed for 4-5 years
9.50%fixed for 10 years
10.25%fixed for 15 years
10.75%fixed for 20 years
*Promo rates only
Updated February 11, 2015

Source: PNB Website
Philippine Veterans Bank8.25%8.25% per annum, fixed for five (5) years, thereafter
subject to re-pricing for every five (5) years
Added on May 6, 2014

Promo Period: March 1 to May 31, 2014

Source: PVB Home Loan, Free Home Flyer
CycleHome Loan Acquisition or ConstructionRefinancing
1 year fixed6.00%6.00%
2 year fixed6.50%6.50%
3 year fixed7.00%7.00%
5 year fixed7.50%7.50%
10 year fixed8.50%8.50%
15 year fixed9.25%9.25%
20 year fixed9.75%N/A
25 year fixed9.75%N/A
Updated February 11, 2015

Source: PSBank Website
RCBC Savings Bank8%RCBC Savings Bank Home Loan Interest Rates as of March 2013Source: RCBC Savings Bank,
G/F, Pacific Place Building,
Pearl Drive, Ortigas Center,
Pasig City
Security Bank5.25%
Fixing Period (Years)Interest Rate
15 .25%
2 to 36.25%
4 to 57.00%
6 to 108.00%
11 to 159.00%
Source: Emy Arceo of Security Bank

Note: We will update our amortization factor rates accordingly to ensure it includes all interest rates quoted above. Alternately, you can also use our mortgage calculator.

Are the lowest interest rates the best interest rates?

It depends. If you have played around with the chart above, you will notice that Pag-IBIG has the lowest interest rates for housing loans up to Php400,000, which is just 4.5% per year. However, what if you need a housing loan that’s more than that? Based solely on the interest rates, a number of banks beat Pag-IBIG for loans above Php400K. So it really depends on the loan amount, among other factors.

You need to check the details of what they are offering like fixing terms and corresponding interest rates (see the “Details” column), or just visit their website for more information (see the “Where to get more info” column).

Reminders about the quoted interest rates above

Please take note that the interest rates quoted in the chart above are indicative rates, which means they are subject to change without prior notice, and the actual interest rate will be the prevailing rate during the time of loan availment.

While getting the cheapest mortgage or home loan rates sounds great, there are things you should be aware of. The lowest rates usually come with yearly repricing, while fixed interest rates are often higher, but can help give you peace of mind that you won’t be affected by the next financial crisis. Learn more by reading the following article:

Updated home loan interest rates

Nope, this isn’t a one-time thing as we intend to keep this home loan and mortgage rates chart updated.

For now, these include banks and lending institutions that either have their interest rates published on their websites, or they furnished us with their interest rates. These are publicly available and can easily be verified.

In the future, we will update this to include interest rates for in-house financing offered by some banks for their foreclosed properties. We also plan to include interest rates for refinancing so that the best refinance rates can be seen at a glance. At the moment, the chart only includes interest rates for new home loan accounts/purchases.

Of course, we will also continue to add more banks and lending institutions, and information related to housing loans and mortgage rates being offered here in the Philippines, as they become available. We could also use some help.

Please help us keep this list updated

If you work for a bank or financial institution who provides housing loan products, and your bank/institution is not yet included in our home loan interest rates comparison chart (or if you have updated info, promos, etc.), please contact us and send us details so we can include your info here. The same applies even if you don’t work for a bank/lending institution, but you have information worth sharing here.

We value your feedback and inputs so if you have any comments and/or suggestions, just let us know by leaving a comment below. Thanks!


To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker License No. 3194 
Connect with us – Subscribe | Facebook | Twitter | Google+

Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2013 All rights reserved.

Full disclosure: Although I am an accredited broker of BPI Loans, we included other banks/lending institutions in the chart above. My goal is to create a very objective and unbiased home loan comparison chart, and I intend to keep it that way.

Image courtesy: of ddpavumba / FreeDigitalPhotos

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About Jay Castillo
People encounter problems and make mistakes when buying foreclosed properties, and Jay wants to help people avoid those problems/ mistakes. Jay encountered a lot of those, which is why he started this blog in 2008 to serve as a guide where he shares lessons learned, and how to overcome challenges you may encounter when investing foreclosed properties in the Philippines … [Read more]
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