Interest Rate Comparison
BDO Unibank
- 1-Year Fixed: 6.00%
- Home Equity: 6.00%
- Min Income: 50,000/month
- Approval Time: 30 days
Metrobank
- Standard Rates: 7.5% - 9.5%*
- Min Income: Varies by product
- Approval Time: 30-45 days
- *Approximate rates based on public info
Security Bank
- 1-Year Fixed: 6.99%
- 5-Year Fixed: 6.75%
- Home Equity: 7.50%
- Min Income: 50,000/month
- Approval Time: 23 days
Monthly Payment Impact Analysis
For a 5,000,000 refinance over 20 years:
| Bank | Rate | Monthly Payment | Total Interest | Savings vs 8.5% |
|---|---|---|---|---|
| BDO (1-Year Fixed) | 6.00% | 35,820 | 3,596,800 | 1,513,200 |
| Security Bank (5-Year Fixed) | 6.75% | 38,150 | 4,156,000 | 954,000 |
| Metrobank (Est. 8.0%) | 8.00% | 41,822 | 5,037,280 | 72,720 |
| Typical Current Rate | 8.50% | 43,391 | 5,413,840 | - |
Loan Product Flexibility
BDO Unibank
Supports diverse employment types including OFWs, seafarers, and self-employed professionals. Covers home equity, foreclosed properties, new construction, and renovation projects.
Security Bank
Most comprehensive loan purposes including refinancing. Fastest approval at 23 days. Accepts freelancers in addition to traditional employment types.
Metrobank
Established bank with nationwide presence. Standard home loan products with traditional qualification requirements.
Why Choose Nook Partner Banks?
When you refinance with BDO or Security Bank through Nook, you get:
- ✅ Verified Rates: Pre-negotiated competitive rates guaranteed
- ✅ Free Broker Service: Professional guidance at no cost to you
- ✅ Streamlined Process: Faster approvals with dedicated support
- ✅ No Hidden Fees: Transparent pricing with no broker fees
Note: Interest rates are subject to change. Metrobank rates shown are approximate based on publicly available information. Contact Nook for current verified rates from all partner banks.
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Compare My Options →Frequently Asked Questions
Which bank offers the lowest refinancing rates among BDO, Metrobank, and Security Bank?
BDO currently offers the lowest rates at 6.00% for both 1-year fixed and home equity loans through Nook's partner program. Security Bank follows with competitive rates starting at 6.75% for 5-year fixed terms, while Metrobank's standard rates typically range from 7.5% to 9.5%.
How much can I save by refinancing from an 8.5% rate to BDO's 6.00% rate?
For a 5,000,000 loan over 20 years, refinancing from 8.5% to BDO's 6.00% rate saves you 7,571 monthly (43,391 vs 35,820) and 1,513,200 in total interest over the loan term. The savings increase proportionally for larger loan amounts.
What are the minimum income requirements for these three banks?
Both BDO and Security Bank (Nook partner banks) require a minimum monthly income of 50,000. Metrobank's requirements vary by product and branch, typically ranging from 30,000 to 50,000 depending on the loan amount and terms.
Which bank has the fastest approval process for refinancing?
Security Bank offers the fastest approval at typically 23 days, followed by BDO at 30 days. Metrobank's approval process usually takes 30-45 days. Both Security Bank and BDO benefit from Nook's streamlined partner process.
Can I refinance investment properties with these banks?
Yes, all three banks offer investment property refinancing. BDO and Security Bank (through Nook) provide clear guidelines for foreclosed properties, reselling units, and rental properties. Security Bank has the most comprehensive loan purpose coverage including specific refinancing products.
Is there any cost to use Nook's broker services for BDO or Security Bank applications?
No, Nook's broker services are completely free to borrowers. You get professional guidance, verified rates, and streamlined processing at no additional cost when applying to BDO or Security Bank through Nook's partner program.