Interest Rate Comparison
BDO Unibank Rates
- 1-Year Fixed: 6.00%
- Home Equity: 6.00%
Security Bank Rates
- 1-Year Fixed: 6.99%
- 5-Year Fixed: 6.75%
- Home Equity: 7.50%
BDO clearly leads in rate competitiveness with a uniform 6.00% across products, while Security Bank offers more product variety including a 5-year fixed option at 6.75%.
Monthly Payment Comparison
Based on a 3,000,000 loan over 20 years:
BDO at 6.00%
Monthly Payment: 21,513
Total Interest: 2,163,120
Security Bank at 6.75%
Monthly Payment: 22,693
Total Interest: 2,446,320
BDO saves you 1,180 monthly and 283,200 in total interest over the loan term.
Approval Requirements
| Requirement | BDO | Security Bank |
|---|---|---|
| Minimum Monthly Income | 50,000 | 50,000 |
| Maximum DTI Ratio | 40% | 40% |
| Typical Approval Time | 30 days | 23 days |
| Employment Types | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer |
Security Bank processes applications faster at 23 days versus BDO's 30 days, and uniquely accepts freelancers. Both banks maintain the same income and DTI requirements.
Loan Purpose Flexibility
BDO Loan Purposes
- Home Equity
- Foreclosed Properties
- New Construction
- Pre-Selling
- Ready For Occupancy (RFO)
- Renovation
- Reselling
Security Bank Loan Purposes
- Foreclosed Properties
- Home Equity
- New Construction
- Pre-Selling
- Ready For Occupancy (RFO)
- Refinancing
- Renovation
- Reselling
Security Bank explicitly includes refinancing in their loan purposes, making them particularly suitable for borrowers looking to compare refinancing options across multiple banks.
Why Choose Through Nook
Both BDO and Security Bank are verified Nook partner banks, meaning you get:
- Free broker service with no fees to you
- Expert guidance through the application process
- Competitive rates negotiated on your behalf
- Support from initial inquiry to loan completion
Whether you choose BDO's lower rates or Security Bank's faster processing, Nook ensures you get the best available terms from either bank.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
Which bank offers lower refinancing rates - BDO or Security Bank?
BDO offers lower rates at 6.00% for both 1-year fixed and home equity loans, compared to Security Bank's 6.99% for 1-year fixed and 6.75% for 5-year fixed terms. This translates to significant monthly savings with BDO.
Does Security Bank process loans faster than BDO?
Yes, Security Bank typically approves loans in 23 days compared to BDO's 30-day timeline. This 7-day difference can be crucial if you need quick loan processing for time-sensitive transactions.
Can freelancers apply for home loans with either bank?
Only Security Bank explicitly accepts freelancers among their eligible employment types. BDO accepts private employees, government workers, BPO staff, OFWs/seafarers, self-employed individuals, and professionals, but doesn't specifically list freelancers.
What's the minimum income requirement for both banks?
Both BDO and Security Bank require a minimum monthly income of 50,000 pesos and maintain a maximum debt-to-income ratio of 40%. These requirements are identical, making eligibility comparable between the two banks.
How much can I save by choosing BDO over Security Bank?
On a 3,000,000 loan over 20 years, BDO's 6.00% rate saves you 1,180 pesos monthly and 283,200 pesos in total interest compared to Security Bank's 6.75% rate. The exact savings depend on your loan amount and term.
Do both banks offer home equity loans?
Yes, both banks offer home equity loans. BDO provides home equity loans at 6.00%, while Security Bank offers them at 7.50%. BDO clearly has the advantage for home equity financing with a 1.50% lower rate.