BDO vs Security Bank Home Loan: Side-by-Side Rate Comparison
Both BDO Unibank and Security Bank are among the Philippines' most trusted home loan lenders — and both are Nook partner banks, meaning you can access their best available rates through Nook at zero cost to you. Below is a direct comparison of their current home loan rates and key terms.
| Feature | BDO Unibank | Security Bank |
|---|---|---|
| 1-Year Fixed Rate | 6.00% p.a. | 6.99% p.a. |
| 5-Year Fixed Rate | Not published | 6.75% p.a. |
| Home Equity Rate | 6.00% p.a. | 7.50% p.a. |
| Min. Monthly Income | 50,000 | 50,000 |
| Max. Debt-to-Income Ratio | 40% | 40% |
| Typical Approval Time | ~30 days | ~23 days |
| Freelancers Accepted | No | Yes |
Note: Interest rates are subject to change. Always verify current rates with the bank or through Nook before making a decision.
Monthly Payment Comparison: How Much Can You Save?
To make this concrete, let's compare estimated monthly payments on a 3,000,000 home loan over a 20-year term at each bank's 1-year fixed rate. (These are indicative figures based on a standard amortizing loan.)
| Loan Amount | Term | BDO @ 6.00% | Security Bank @ 6.99% | Monthly Difference |
|---|---|---|---|---|
| 3,000,000 | 20 years | ~21,491 | ~23,254 | ~1,763 savings with BDO |
| 5,000,000 | 20 years | ~35,818 | ~38,756 | ~2,938 savings with BDO |
| 7,000,000 | 20 years | ~50,145 | ~54,259 | ~4,114 savings with BDO |
Over a full 20-year loan on a 5,000,000 balance, choosing BDO's rate over Security Bank's 1-year fixed rate translates to approximately 705,120 in total interest savings — a significant difference that underscores the value of comparing before you commit.
Of course, after the fixed period ends, your rate will reprice to prevailing market rates at that time. This is why many borrowers refinance periodically — and why having a broker like Nook in your corner makes sense.
Which Employment Types Does Each Bank Accept?
Both BDO and Security Bank are accessible to a wide range of Filipino borrowers, but there is one notable difference: Security Bank accepts freelancers, while BDO does not list freelancers among its eligible employment types.
| Employment Type | BDO | Security Bank |
|---|---|---|
| Private Employee | ✓ | ✓ |
| Government Employee | ✓ | ✓ |
| BPO Employee | ✓ | ✓ |
| OFW / Seafarer | ✓ | ✓ |
| Self-Employed | ✓ | ✓ |
| Professional | ✓ | ✓ |
| Freelancer | ✗ | ✓ |
If you are a freelancer or independent contractor, Security Bank may be your better path to refinancing — even if BDO's rate is lower, you need to qualify first.
Loan Purposes: What Can Each Bank Finance?
Both banks support a broad range of home loan purposes. Here's how they compare:
| Loan Purpose | BDO | Security Bank |
|---|---|---|
| Refinancing | ✓ | ✓ |
| Home Equity / Cash-Out | ✓ | ✓ |
| Ready for Occupancy (RFO) | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ |
| New Construction | ✓ | ✓ |
| Renovation | ✓ | ✓ |
| Reselling / Resale | ✓ | ✓ |
| Foreclosed Property | ✓ | ✓ |
Both banks cover the full spectrum of home loan needs in the Philippines, so loan purpose is unlikely to be a deciding factor in your choice between them.
BDO Home Loan: What You Need to Know
BDO Unibank is the Philippines' largest bank by assets, and its home loan program reflects that scale — broad eligibility, a well-known brand, and a compelling 6.00% 1-year fixed rate that is among the lowest available in the market today. For borrowers refinancing an existing home loan, BDO's 6.00% home equity rate is also noteworthy, as many borrowers on older loans are currently paying 8%–10% or more.
BDO's typical approval timeline is around 30 days — slightly longer than Security Bank — but for most borrowers, a week's difference is not a dealbreaker when the rate savings are this significant. If you're curious how BDO compares against another major lender, see our full BDO vs BPI home loan comparison for additional context.
- Best for: Borrowers prioritizing the lowest rate and those employed in the private or government sector, BPO, or OFW/seafarer
- Minimum monthly income: 50,000
- Maximum DTI: 40%
- Approval time: ~30 days
Security Bank Home Loan: What You Need to Know
Security Bank has built a strong reputation for its home loan product — particularly its speed of approval and its flexibility toward non-traditional employment types like freelancers. At 6.99% for a 1-year fixed term, it is not the cheapest option on a rate-only basis, but its 5-year fixed rate of 6.75% is an interesting alternative for borrowers who want longer rate certainty without repricing risk every year.
Security Bank's home equity rate of 7.50% is higher than BDO's 6.00%, so borrowers looking to tap home equity should lean toward BDO unless they need the faster turnaround or freelancer-friendly underwriting that Security Bank offers. For a broader view of where Security Bank stands in the market, you can also read our Security Bank vs PNB comparison.
- Best for: Freelancers, borrowers who want a 5-year fixed option, and those who need faster loan approval
- Minimum monthly income: 50,000
- Maximum DTI: 40%
- Approval time: ~23 days
Why Apply Through Nook Instead of Going Directly to the Bank?
Many Filipinos apply directly to one bank, get whatever rate is offered, and never know if they could have done better. Nook exists to change that. As a digital mortgage broker, Nook submits your application to multiple partner banks — including both BDO and Security Bank — and lets you compare real offers side by side before you decide.
The service is 100% free to borrowers. Nook is compensated by the banks, not by you. You get expert guidance, faster processing support, and the negotiating power of a broker — at no cost. Whether BDO or Security Bank turns out to be the right fit, applying through Nook means you'll know you got the best deal available.
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Compare My Options →Frequently Asked Questions
Which bank has the lower home loan rate — BDO or Security Bank?
For a 1-year fixed rate, BDO currently offers 6.00% p.a. compared to Security Bank's 6.99% p.a., making BDO the lower-rate option for short-term fixed periods. However, Security Bank offers a 5-year fixed rate of 6.75% p.a., which may appeal to borrowers who prefer longer rate stability. Rates are subject to change, so always confirm current rates before applying.
Which bank approves home loans faster — BDO or Security Bank?
Security Bank has a faster typical approval time of around 23 days, compared to BDO's approximately 30 days. If speed of approval is a priority — for example, if you're on a tight closing timeline — Security Bank may be the better choice.
Can freelancers apply for a home loan with BDO or Security Bank?
Security Bank accepts freelancers as eligible borrowers, while BDO does not list freelancers among its accepted employment types. If you are a freelancer or independent contractor, Security Bank is the more accessible option between these two banks.
What is the minimum income requirement for BDO and Security Bank home loans?
Both BDO and Security Bank require a minimum monthly income of 50,000. This is a standard threshold across most major Philippine banks for home loan eligibility.
Can I refinance my existing home loan with BDO or Security Bank?
Yes, both BDO and Security Bank offer home loan refinancing. If you are currently paying a higher interest rate — many Filipino homeowners are paying between 7% and 10% — refinancing to BDO's 6.00% or Security Bank's 6.99% could result in significant monthly and long-term savings. Nook can help you compare both options for free.
Is it better to apply to BDO and Security Bank at the same time?
Yes — applying to multiple banks simultaneously is the smartest way to refinance. It lets you compare real offers and choose the best one. Nook does exactly this: it submits your application to multiple partner banks, including BDO and Security Bank, at no cost to you, so you can make a fully informed decision.
Does Security Bank offer a 5-year fixed home loan rate?
Yes. Security Bank offers a 5-year fixed rate of 6.75% p.a., which provides longer interest rate certainty compared to a 1-year fixed product. BDO does not publicly list a 5-year fixed rate option. If you prefer your rate to be locked in for five years before repricing, Security Bank's 5-year fixed product is worth considering.
How much can I save by refinancing from a higher rate to BDO or Security Bank?
The savings depend on your current rate, outstanding balance, and remaining term. As an example, on a 5,000,000 loan over 20 years, switching from 9% to BDO's 6.00% could reduce your monthly payment by approximately 8,000 or more, and save you hundreds of thousands of pesos in total interest over the life of the loan. Use Nook's free refinancing service to get a personalized estimate.