AUB vs Security Bank: Home Loan Rate Comparison
Choosing between AUB and Security Bank for your home loan or refinance is a decision worth taking seriously. Interest rate differences of even 0.5% to 1% on a loan of 3,000,000 pesos over 20 years can translate to over 300,000 pesos in total interest savings. Below, we compare both banks across the factors that matter most to Filipino homebuyers and homeowners refinancing their mortgage.
Note: Interest rates are subject to change. Always verify current rates directly with the bank or through your Nook mortgage broker before making a decision.
Interest Rates
| Rate Type | AUB | Security Bank |
|---|---|---|
| 1-Year Fixed Rate | Not publicly listed — inquire directly | 6.99% p.a. |
| 5-Year Fixed Rate | Not publicly listed — inquire directly | 6.75% p.a. |
| Home Equity / Multi-Purpose | Varies — subject to credit assessment | 7.50% p.a. |
Security Bank publishes its fixed rates clearly, which gives borrowers a reliable starting point for their monthly payment calculations. AUB's rates are typically disclosed only after an inquiry or application, which can make early-stage planning more difficult. If rate transparency matters to you — and it should — Security Bank has a meaningful advantage here.
To put this in perspective: on a 3,000,000 peso loan over 20 years, the difference between paying 7.50% and 6.75% is approximately 7,500 to 8,500 pesos per month in amortization — adding up to over 1,500,000 pesos across the full loan term. That's a significant gap.
Loan Eligibility and Income Requirements
| Criteria | AUB | Security Bank |
|---|---|---|
| Minimum Monthly Income | Varies by loan amount and term | 50,000 pesos |
| Maximum Debt-to-Income Ratio | Not publicly specified | 40% |
| Eligible Employment Types | Employed, self-employed (subject to assessment) | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer |
Security Bank's eligibility criteria are notably inclusive. Freelancers, OFWs, BPO workers, and government employees are all explicitly welcomed — a major advantage for borrowers who sometimes struggle to qualify at more conservative lenders. AUB accepts employed and self-employed applicants but has less published detail on its qualifying criteria for non-traditional income earners.
If you're an OFW or work in the BPO sector, Security Bank's explicit acceptance of these income types is a meaningful advantage worth factoring into your decision. You can also explore how Security Bank compares with other government-linked lenders in our Landbank vs Security Bank home loan comparison.
Loan Purposes Covered
| Purpose | AUB | Security Bank |
|---|---|---|
| Refinancing | Yes | Yes |
| Ready for Occupancy (RFO) | Yes | Yes |
| Pre-Selling | Yes | Yes |
| Home Equity / Cash-Out | Yes | Yes — 7.50% p.a. |
| Renovation | Yes | Yes |
| New Construction | Limited information available | Yes |
| Foreclosed Properties | Not widely advertised | Yes |
Security Bank covers a broad range of loan purposes, including foreclosed properties and new construction — two categories where some banks are more restrictive. This breadth makes Security Bank a more flexible option for borrowers with non-standard property situations.
Processing Speed and Approval Timeline
| Factor | AUB | Security Bank |
|---|---|---|
| Typical Approval Time | Varies — typically 3 to 5 weeks | Approximately 23 days |
| Digital Application Option | Available online | Available through Nook (free) |
Security Bank's 23-day typical approval timeline is a concrete benchmark that gives borrowers a reliable expectation. Applying through Nook — Nook's service is completely free to borrowers — also means your application is managed by an experienced broker who knows what Security Bank needs, which can reduce back-and-forth and speed up processing further.
Savings Illustration: What Refinancing Could Mean for You
If you're currently paying a rate of 8.00% on a 3,000,000 peso home loan with 15 years remaining, here's what refinancing to Security Bank's 5-year fixed rate of 6.75% could look like:
| Scenario | Current Loan at 8.00% | Refinanced at 6.75% |
|---|---|---|
| Loan Amount | 3,000,000 | 3,000,000 |
| Loan Term | 15 years | 15 years |
| Estimated Monthly Amortization | ~28,650 | ~26,540 |
| Estimated Total Interest Paid | ~2,157,000 | ~1,777,200 |
| Estimated Total Savings | — | ~379,800 |
These figures are illustrative estimates. Actual savings will depend on your remaining balance, exact rate offered, applicable fees, and other factors. Use these numbers as a starting point, then speak with a Nook advisor for a personalized calculation.
For a broader picture of how Security Bank stacks up against another major comparison, see our Asia United Bank vs Security Bank detailed rate comparison.
About AUB (Asia United Bank)
Asia United Bank is a mid-sized universal bank with a growing retail banking presence in the Philippines. It offers home loans for purchase and refinancing and has expanded its digital banking capabilities in recent years. AUB is a legitimate and regulated bank under the Bangko Sentral ng Pilipinas (BSP). However, it is not currently a Nook partner bank, which means Nook cannot facilitate AUB applications or provide broker support for AUB loans. Borrowers interested in AUB would need to apply directly through AUB's channels.
About Security Bank
Security Bank is one of the Philippines' top universal banks and a Nook partner, meaning eligible borrowers can apply for a Security Bank home loan or refinance through Nook's platform at no cost. Security Bank is known for competitive fixed rates, a relatively fast approval process, and broad eligibility criteria that welcome OFWs, freelancers, and BPO workers alongside traditionally employed borrowers. Its 5-year fixed rate of 6.75% p.a. is among the most competitive currently available in the Philippine home loan market.
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Compare My Options →Frequently Asked Questions
What is the difference between AUB and Security Bank home loan rates?
Security Bank publishes its fixed rates clearly: 6.99% p.a. for a 1-year fix and 6.75% p.a. for a 5-year fix. AUB does not widely publish its home loan rates online, so borrowers typically need to inquire directly to get a rate quote. This makes Security Bank easier to evaluate and compare during the early stages of your home loan or refinance search.
Can I refinance from AUB to Security Bank?
Yes. If you currently have a home loan with AUB, you can refinance to Security Bank to take advantage of a potentially lower interest rate. The refinancing process involves paying off your existing AUB loan with a new Security Bank loan. Nook can help you assess whether refinancing makes financial sense for your situation and can manage your Security Bank application at no cost to you.
How long does Security Bank take to approve a home loan?
Security Bank's typical approval timeline is approximately 23 days from submission of a complete application. Applying through Nook can help streamline this process, as Nook's brokers know exactly what documentation Security Bank requires and can help you prepare a complete, error-free application from the start.
Does Security Bank accept OFW and freelancer applications?
Yes. Security Bank explicitly accepts applications from OFWs, seafarers, freelancers, BPO workers, government employees, self-employed individuals, and professionals — in addition to traditionally employed private sector workers. This broad eligibility makes Security Bank one of the more accessible lenders for borrowers with non-traditional income sources.
Is Nook's service free when applying for a Security Bank home loan?
Yes, Nook's mortgage broker service is completely free to borrowers. Nook is compensated by the bank, not the borrower. You get access to Nook's expertise, application support, and rate negotiation at no cost whatsoever.
What is the minimum income requirement for a Security Bank home loan?
Security Bank requires a minimum monthly income of 50,000 pesos. This applies across most borrower types, though specific documentation requirements may vary depending on your employment status. Nook can advise you on exactly what you need to prepare based on your income type.
What loan purposes does Security Bank cover?
Security Bank covers a wide range of loan purposes including refinancing, purchase of ready-for-occupancy (RFO) and pre-selling properties, home equity or cash-out loans, renovation, new construction, reselling, and even foreclosed properties. This breadth makes Security Bank a flexible choice for borrowers across different property situations.
How much can I save by refinancing to Security Bank's 6.75% rate?
Savings depend on your current rate, remaining loan balance, and term. As an illustration: a borrower with a 3,000,000 peso loan at 8.00% over 15 years could save approximately 379,800 pesos in total interest by refinancing to Security Bank's 5-year fixed rate of 6.75%. Monthly savings would be around 2,100 pesos. Use these figures as a guide and speak with a Nook advisor for a precise calculation based on your actual loan details.