MORTGAGELENDERS-PH-20260927Among the Philippine banks that publish home loan rates, Metrobank has the lowest one-year fix at 6.25%, as of rate pages checked on 27 September 2026. BDO charges 6.50% to new borrowers and 6.25% to existing clients. At five years the field converges: BDO, BPI, PSBank and China Bank all quote 8.00%, and Metrobank 8.25%. The lenders really differ in three places. One is how long they let you fix: up to 25 years at PSBank, 20 at BPI and RCBC, 10 at BDO, 5 at Metrobank and China Bank. The second is how much of the property they finance. The third is the formula that sets your rate once the fixed period ends.
Pag-IBIG sits below all of them. Its regular five-year fix is 6.50%, and its 2026 promo rates of 4.5% and 5.75% are fixed for three years on applications filed until 31 December. The banks win on speed, on loan size above Pag-IBIG's ₱10 million ceiling, and for borrowers who need a lender that already knows their accounts.
Published home loan rates by fixing period
These are regular rates for new home purchase loans from each bank's own rate page or rate sheet. Limited-time promos are covered further down. A dash means the bank does not offer that fixing period.
| Lender | 1 year | 3 years | 5 years | 10 years | Longest fix offered | Source, date |
|---|---|---|---|---|---|---|
| Pag-IBIG Fund (benchmark) | 5.75% | 6.25% | 6.50% | 7.125% | 30 years at 9.75% | Regular table; promo 4.5% / 5.75% to 31 Dec 2026 |
| Metrobank | 6.25% | 7.75% | 8.25% | – | 5 years | Home purchase page, Sep 2026 |
| BDO, new to BDO | 6.50% | 7.50% | 8.00% | 9.75% | 10 years | Rate summary, May 2026 |
| BDO, existing clients | 6.25% | 7.25% | 7.75% | 9.50% | 10 years | Rate summary, May 2026 |
| BPI | 7.00% | 7.75% | 8.00% | 10.25% | 20 years at 12.00% | Housing loan page, Sep 2026 |
| PSBank | 7.00% | 7.50% | 8.00% | 9.25% | 25 years at 10.50% | Rate table, Sep 2026 |
| China Bank | 7.50% | 7.50% | 8.00% | – | 5 years | HomePlus FAQ, Sep 2026 |
Security Bank, RCBC, UnionBank, EastWest, PNB and HSBC do not post a regular rate table. RCBC's product page lists fixing options of 1 to 20 years, a minimum loan of ₱1,000,000 and a 20% down payment for a house and lot. HSBC starts at ₱6,000,000 and reprices at most every five years. With these banks, ask for a written computation for your exact loan amount and fixing period, then set it against the table above.
The rate after the fixed period matters more than the one before
Every bank rate in the table above expires. BDO is the only big bank that prints its repricing rule on the rate sheet. After the fixed period, the loan reprices every year at the highest of three figures: the 364-day Treasury bill reference rate plus 4%, the one-year Bloomberg valuation rate plus 3%, or BDO's board rate at the time. The 364-day bill averaged about 5.4% between January and early August 2026, according to a BSP presentation. That puts the Treasury bill floor near 9.4%, well above the 8.00% five-year fix a new borrower gets today. Other banks reprice at their prevailing rates without a published formula, so ask each one to put its method in writing before you sign.
Here is what that means for ₱5,000,000 borrowed over 20 years. At 8.00% for the first five years, the payment is ₱41,822. After five years about ₱4.38 million is still owed. Repriced at 9.4% for the remaining 15 years, the payment becomes ₱45,434. If yields fall and the reset lands at 8.0%, it stays at ₱41,822. If it lands at 10%, it rises to ₱47,028. The BSP raised its policy rate to 5.00% on 27 August 2026, its third hike this year. Its August monetary policy report said easing could become possible in 2027. That is not a promise, so budget for the reset.
Is a 20-year fixed rate worth it?
A long fix buys certainty at a steep price. On the same ₱5,000,000 over 20 years:
| Choice | Rate | Monthly payment | Interest over 20 years |
|---|---|---|---|
| Pag-IBIG, 20-year fixing | 8.50% | ₱43,391 | ≈ ₱5.41 million |
| Bank 5-year fix, then repriced at 9.4% | 8.00% → 9.4% | ₱41,822 → ₱45,434 | ≈ ₱5.69 million |
| PSBank, 20-year fix | 10.50% | ₱49,919 | ≈ ₱6.98 million |
| BPI, 20-year fix | 12.00% | ₱55,054 | ≈ ₱8.21 million |
A bank's 20-year fix costs ₱1.3 million to ₱2.5 million more in interest than a five-year fix that resets near today's Treasury bill floor. It only pays off if rates climb well above 10% and stay there for most of two decades. Pag-IBIG's long fixings are the exception. At 8.50% for 20 years, it locks in a rate close to what banks charge for five. For a borrower within the ₱10 million ceiling who wants certainty, that is the strongest offer in the market. For its Step-Up PayPlan, BPI itself recommends the five-year fix as the way to keep early payments smallest.
How much each lender will finance
The rate matters little if the bank covers too small a share of the price. BPI finances up to 90% of property value, with loans from ₱400,000 and terms up to 30 years. Metrobank lends for terms of up to 25 years. RCBC asks for 20% down on a house and lot and more on vacant lots. China Bank's HomePlus FAQ caps the loan at 60% of the collateral's value, from a minimum of ₱500,000. Terms there run up to 20 years for a house and lot, 15 for a condominium and 10 for a vacant lot or a takeout from another bank. For a buyer with a thin down payment, the realistic shortlist is Pag-IBIG, BPI or a developer-accredited bank loan, whatever the rates say.
Age limits cut the term too. BPI requires the loan to mature before you turn 70 and lists ₱40,000 as the minimum household income. Pag-IBIG accepts applicants up to 65, with maturity by 70. Someone applying at 50 therefore gets at most 20 years at either lender, whatever the bank's maximum term.
Promos, fee waivers and lock-ins
The 2026 promos cut rates by up to a percentage point but come with conditions. BPI's Dream More Deals took applications from 1 to 31 August 2026 for booking by 30 November. It offered 6.50% for one year, 7.00% for two and 7.25% for five. It also waived bank fees of ₱5,000 per ₱1 million of loan, up to ₱170,000. BDO's promo for bookings from 1 April to 30 September 2026 waived fees of up to ₱25,000 and the first year of fire insurance. It carries a five-year lock-in, and paying off the loan early inside that period claws back the waived fees. Metrobank's Home Goals Made Real priced three- and five-year fixes at 6.50% for loans booked by 31 July 2026. RCBC's February promo offered 6.50% to 7.00% fixed for one to five years.
Two rules help when comparing a promo against a regular rate. First, add up the waived fees and divide by the years you actually expect to keep the loan. A ₱170,000 waiver matters less if you plan to refinance into Pag-IBIG in year three. Second, ask how the rate resets when the promo period ends, because the promo discount does not carry into the repriced rate. Metrobank lists its standard fees for comparison: appraisal of ₱4,000 in Metro Manila or ₱4,500 in the provinces, title investigation of ₱1,000 and a handling fee of ₱5,000, before taxes and insurance.
Which lender fits which borrower
- Loan up to ₱10 million, income you can document, time to wait: Pag-IBIG. It has the lowest rates at every fixing period, free prepayment and a 20-year fix at 8.50%.
- Existing BDO depositor or payroll client: BDO's existing-client column is a quarter point below its new-client rates at every fixing period. Its repricing rule is also the most transparent.
- Short fix now, betting on BSP cuts in 2027: Metrobank at 6.25% for one year, or BDO for existing clients at the same rate.
- Want to fix for 10 years or more with a bank: PSBank prices long fixes lowest: 9.25% for 10 years and 10.50% for 20 or 25.
- Small down payment: BPI, with up to 90% financing, or Pag-IBIG.
- Loan of ₱6 million or more: HSBC, whose home mortgage loans start at that amount and run up to 20 years.
For the steps from pre-qualification to takeout, the documents each type of borrower needs and the closing costs, see our home loan guide for the Philippines. The bank profiles of BDO Unibank and Metrobank cover branches, deposit products and ownership if you want to know the lender beyond its rate card.