Interest Rate Comparison Overview
BDO Unibank (Nook Partner)
1-Year Fixed & Home Equity
- Lowest rate among the three
- Fast 30-day approval
- Accessible ₱50,000 minimum income
- Free broker service through Nook
Security Bank (Nook Partner)
5-Year Fixed: 6.75% | 1-Year Fixed: 6.99%
- Competitive medium-term rates
- Quick 23-day approval process
- Supports various employment types
- Comprehensive loan purposes
Metrobank
Approximate standard rates
- Wide branch network
- Established market presence
- Traditional application process
- Higher rate range
Monthly Payment Comparison
For a ₱3,000,000 loan over 20 years:
| Bank | Interest Rate | Monthly Payment | Total Interest | Savings vs Highest |
|---|---|---|---|---|
| BDO (Nook Partner) | 6.00% | 21,492 | 2,158,080 | ₱394,800 |
| Security Bank (Nook Partner) | 6.75% | 22,338 | 2,361,120 | ₱191,760 |
| Metrobank | 8.50% | 24,140 | 2,793,600 | - |
*Metrobank rates shown are approximate based on publicly available information and subject to change. Exact rates may vary based on loan profile and current market conditions.
Processing Speed & Requirements
BDO Unibank
- Approval Time: 30 days
- Min Income: ₱50,000
- Max DTI: 40%
- Employment: Private, Government, BPO, OFW, Self-Employed
Security Bank
- Approval Time: 23 days (fastest)
- Min Income: ₱50,000
- Max DTI: 40%
- Employment: Includes Freelancers
Metrobank
- Approval Time: 45-60 days (typical)
- Min Income: Varies by branch
- Requirements: Traditional documentation
- Process: Direct bank application
Why Choose Nook Partner Banks?
When comparing these three options, BDO and Security Bank through Nook offer distinct advantages:
- Verified Rates: Guaranteed partner bank rates with no hidden fees
- Free Service: No broker fees or additional charges
- Faster Processing: Streamlined application through established partnerships
- Expert Guidance: Professional support throughout the refinancing process
- Rate Monitoring: Ongoing market analysis to ensure competitive positioning
While Metrobank maintains a strong market presence, the rate differential of 2-3% annually translates to substantial long-term savings when refinancing with BDO or Security Bank through Nook's platform.
Refinancing Scenarios
Scenario 1: ₱5,000,000 Loan (25 years)
Monthly: ₱40,123
Total Interest: ₱7,036,900
Monthly: ₱35,790
Total Interest: ₱5,737,000
Savings: ₱1,299,900
Scenario 2: ₱2,000,000 Loan (15 years)
Monthly: ₱20,276
Total Interest: ₱1,649,680
Monthly: ₱18,175
Total Interest: ₱1,271,500
Savings: ₱378,180
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Compare My Options →Frequently Asked Questions
Which bank offers the lowest home loan rates among BDO, Metrobank, and Security Bank?
BDO currently offers the lowest rates at 6.00% p.a. for both 1-year fixed and home equity loans through Nook's partner network. Security Bank follows with competitive rates of 6.75% for 5-year fixed terms, while Metrobank's standard rates typically range from 8-9%.
How much can I save by refinancing from Metrobank to BDO or Security Bank?
Savings vary by loan amount and term, but typically range from ₱200,000 to ₱1,300,000 over the loan lifetime. For a ₱3,000,000 loan over 20 years, refinancing from Metrobank (8.5%) to BDO (6.00%) saves approximately ₱394,800 in total interest payments.
What are the minimum income requirements for each bank?
Both BDO and Security Bank require a minimum monthly income of ₱50,000 when applying through Nook. Metrobank's requirements vary by branch and loan product, but generally follow similar income thresholds with additional documentation requirements.
Which bank has the fastest approval process?
Security Bank offers the fastest approval at approximately 23 days, followed by BDO at 30 days. Both are Nook partner banks with streamlined processes. Metrobank typically requires 45-60 days for traditional applications through direct bank channels.
Can I refinance from any of these banks to another through Nook?
Yes, Nook facilitates refinancing between banks regardless of your current lender. Whether you're with BDO, Metrobank, or Security Bank, you can explore better rates with other partner institutions through our free platform.
Are the rates shown guaranteed or subject to change?
BDO and Security Bank rates shown are current partner rates available through Nook, though final rates depend on loan profile assessment. Metrobank rates are approximate based on publicly available information and subject to change. All rates should be verified during application as market conditions vary.