Interest rates change every month. How to compare when a client asks, 'Which bank is best?' (As of November 2026)

Hello, this is nishiki from NISHIKI BASE.

Have you ever been at a loss for words when a client asks, ‘So, which bank is actually the best?’

Mortgage interest rates change almost every month. Furthermore, a single bank may offer two or three different rates, and the conditions for group credit life insurance and bridge loans vary from bank to bank. Honestly, it is impossible to memorize everything and provide an immediate answer.

In this article, I will organize the order of ‘how to compare’ using the public data of financial institutions nationwide that I collect every month (as of November 2026).

1. Conclusion: Compare interest rates only after ‘standardizing the conditions’

First, the conclusion.

Mortgage interest rates change based on how fees and guarantee charges are paid, repayment period, and the type of group credit life insurance. For custom-built homes, whether bridge loans or land-first loans are available also affects the options.

Therefore, standardize the conditions before lining up the interest rate figures. This alone will make explaining things to your clients much easier.

2. Interest rates change every month. Keeping track of everything is a daunting task

While many institutions review mortgage interest rates every month, some change them only once a year, and others change them based on campaign periods. When I collected the data for November, there were even institutions where the applicable month remained ‘last month’ or ‘October of the previous year’.

Trying to keep up with everything every month—from megabanks and internet banks to local regional banks and credit unions—is almost impossible to sustain alongside your regular sales work.

That is precisely why, when showing figures to a client, you must always include ‘which month the figures are from’. Even if you don’t remember everything, this alone will significantly change the credibility of your explanation.

3. There are three interest rates at the same bank

Here is an example of variable interest rates as of November 2026.

• Nishi-Nippon City Bank | Loan Fee Type: 1.525% p.a. | Guarantee Charge Lump-sum Type: 1.675% p.a. | Guarantee Charge Included Type: 1.875% p.a.

• Fukuoka Bank | Loan Fee Type: 1.525% p.a. | Guarantee Charge Lump-sum Type: 1.575% p.a. | Guarantee Charge Included Type: 1.775% p.a.

At Nishi-Nippon City Bank, there is a 0.35% difference between the lowest and highest types for the same variable interest rate.

It is easier to understand if you think of it not as the bank selling three different products, but as ‘three different ways to pay for the same loan’.

• Loan Fee Type: Pay a fee of ‘loan amount x 2.2%’ upfront. In exchange, the interest rate is the lowest.

• Guarantee Charge Lump-sum Type: Pay the administrative fee (55,000 yen for both banks) and the guarantee charge together upfront.

• Guarantee fee included type: The guarantee fee is not paid upfront but is added to the interest rate and paid little by little each month. The initial burden is light, but the interest rate is the highest.

The amount of the ‘guarantee fee’ for the lump-sum payment type varies depending on the loan amount, term, and screening results.

4. Looking at 35 million yen, how much will the handling fee be?

Calculating the ‘loan amount x 2.2%’ for the loan handling fee type with 35 million yen results in 770,000 yen.

770,000 yen is a fairly large item among the various expenses. If discussions proceed without ‘loan handling fees’ included in the financial plan, the client will end up with insufficient funds later.

Since the loan handling fee is ‘proportional to the loan amount,’ if the loan amount increases by 5 million yen as meetings progress, the fee will also increase by 110,000 yen. It is safe to include recalculating the fee as a checklist item every time the financial plan is updated.

Based on November data, listing the lowest variable interest rates for each institution, the top rankings are as follows.

• Mitsubishi UFJ Bank: 1.195% per annum (Loan handling fee type)

• Saga Bank: 1.250% per annum (Loan handling fee type)

• Resona Bank: 1.250% per annum (Loan handling fee type)

• Mizuho Bank: 1.275% per annum (Loan handling fee type)

• Internet banks: 1.540% to 1.847% per annum

The top ones are all loan handling fee types. Rather than saying ‘megabanks are cheaper,’ it is more accurate to say ‘this is how they compare when looking at fee-based types against each other’. Some internet banks have zero fees for guarantees, group credit life insurance, and early repayment (such as SBI Shinsei Bank), so winners and losers are not decided by interest rate figures alone.

5. Three things to look at after interest rates: repayment period, group credit life insurance, and bridge loans/land-first loans

Once you have aligned the interest rate types, look at the following three points.

① Repayment period (35, 40, 50 years)
The maximum term available varies by institution. Some offer up to 35 years, while others offer up to 40 or 50 years. This expands the options for clients who want to keep monthly repayments low, but you should also look at the age at the time of full repayment and the total repayment amount.

② Contents of group credit life insurance
In addition to general group credit life insurance, there are types that cover cancer, the three major diseases, joint insurance for couples, and wide-type insurance that is easier to join even with pre-existing conditions. Which options are available and whether there is an interest rate surcharge—and how much—varies by institution. Even for two banks with the same interest rate, the content changes significantly when including group credit life insurance.

③ Bridge loans/Land-first loans
For custom-built homes where you search for land first, land settlement and payments for construction start or intermediate stages occur before the mortgage is executed (building handover). Whether you can use ‘bridge loans’ to connect these or ‘land-first loans’ to borrow for the land portion in advance will determine which banks are candidates.

These three items often do not appear in interest rate comparison tables. However, for custom home clients, they are just as important as a 0.1% difference in interest rates.

6. Explaining to clients: Not ‘recommendations’ but ‘in order of suitability to conditions’

What nishiki wants to convey to sales staff is that you do not need to answer ‘which bank is recommended.’

1. “There are three types of interest rates based on how fees are paid. I will list them using the same format.”

2. “Please tell me these three things first: the repayment period, group credit life insurance, and the order of land payments.”

3. “I will list the options that meet your criteria in order of lowest interest rate. We will choose together.”

When you say ‘recommended,’ the client becomes guarded, wondering ‘why that bank?’ If you align the conditions and show them side-by-side, the client can make an informed decision on their own.

Interest rates change every month. You don’t need to memorize them all. Being able to align the conditions in front of the client and mention which month the figures are from is key. Construction companies that can talk about money are the ones that get chosen.

7. Summary

• Interest rates change every month. Always include ‘which month’s figures these are’ with the numbers.

• Even at the same bank, there are three interest rates depending on how fees and guarantee charges are paid (the lower interest rate is paired with a ‘loan amount × 2.2%’ fee; for 35 million yen, that is 770,000 yen).

• After interest rates, look at the repayment period, group credit life insurance, and bridge loans for land.

• Show clients options in ‘order of meeting their criteria’ rather than ‘recommended’ ones.

Thank you for always reading. If you are a sales professional struggling with explaining interest rates, let’s discuss it together.

*Interest rates are based on figures published by each institution as of November 2026. Actual interest rates and conditions may change during the screening process. This does not constitute a recommendation for any specific financial institution.