BDO vs Security Bank Housing Loan: 2026 Rate Comparison
Both BDO Unibank and Security Bank are among the Philippines' most trusted home loan providers — and both are Nook partner banks, meaning you can apply to either (or both) through Nook at zero cost. Below is a detailed comparison to help you determine which bank fits your situation best.
| Feature | BDO Unibank | Security Bank |
|---|---|---|
| 1-Year Fixed Rate | 6.00% p.a. | 6.99% p.a. |
| 5-Year Fixed Rate | Not listed | 6.75% p.a. |
| Home Equity Rate | 6.00% p.a. | 7.50% p.a. |
| Min. Monthly Income | 50,000 | 50,000 |
| Max DTI Ratio | 40% | 40% |
| Typical Approval Time | ~30 days | ~23 days |
| Freelancers Accepted | No | Yes |
| Nook Partner Bank | ✓ Yes | ✓ Yes |
Interest rates are subject to change. Always verify current rates with the bank or through your Nook advisor before making a decision.
Monthly Payment Comparison: ₱3,000,000 Loan Over 20 Years
To illustrate the real-world difference between these two banks, here is how monthly payments compare on a 3,000,000 home loan over a 20-year term, using each bank's 1-year fixed rate.
BDO — 6.00% p.a.
≈ 21,491 / month
Total interest paid over 20 years: ≈ 2,157,840
Security Bank — 6.99% p.a.
≈ 23,258 / month
Total interest paid over 20 years: ≈ 2,581,920
At 6.00% vs 6.99%, the monthly difference is approximately 1,767 — or roughly 424,080 over 20 years. That's a meaningful saving, though keep in mind rates reprice after the fixed period ends, so your actual long-term cost depends on future rate movements.
If locking in a rate for 5 years matters to you, Security Bank's 5-year fixed at 6.75% offers strong value. At that rate, the monthly repayment on the same 3,000,000 loan over 20 years would be approximately 22,937 — giving you five years of payment certainty at a rate that's competitive with BDO's shorter lock-in.
For borrowers thinking about refinancing their current home loan, you may also want to read our guide on BDO vs Security Bank home loan refinance rates in 2026 for a deeper look at how both banks perform specifically for refinancing scenarios.
Loan Purposes: What Can You Use Each Loan For?
Both banks support a wide range of housing loan purposes, with minor differences worth noting.
BDO Accepts:
- Ready For Occupancy (RFO)
- Pre-Selling
- New Construction
- Reselling
- Refinancing
- Renovation
- Home Equity
- Foreclosed Properties
Security Bank Accepts:
- Ready For Occupancy (RFO)
- Pre-Selling
- New Construction
- Reselling
- Refinancing
- Renovation
- Home Equity
- Foreclosed Properties
Both banks cover essentially the same loan purposes, so the type of property or transaction you're pursuing should not be a deciding factor between these two.
Who Qualifies? Employment Types Accepted
Both BDO and Security Bank are accessible to a broad range of borrower profiles. Here's a breakdown of accepted employment types:
BDO Accepts:
- Private Employed
- Government Employed
- BPO Workers
- OFW / Seafarers
- Self-Employed
- Professionals
Security Bank Accepts:
- Private Employed
- Government Employed
- BPO Workers
- OFW / Seafarers
- Self-Employed
- Professionals
- Freelancers ✓
Security Bank's inclusion of freelancers is a notable advantage for independent contractors, digital professionals, and gig economy workers who may find it harder to qualify at other banks.
Approval Speed: Which Bank Is Faster?
Security Bank edges ahead on processing speed with a typical approval timeline of 23 days, compared to BDO's 30 days. For buyers working against a developer deadline or a seller's timeline, those extra days can matter. That said, approval timelines vary based on document completeness and individual circumstances — your Nook advisor can help you prepare a complete application to avoid delays at either bank.
Home Equity Loans: A Clear Winner
If you're looking to borrow against your property's equity — for example, to fund a renovation, pay for tuition, or consolidate debt — BDO's home equity rate of 6.00% p.a. is significantly more attractive than Security Bank's 7.50% p.a.. This is a 150 basis point difference that can add up to hundreds of thousands of pesos over a multi-year loan term. For home equity specifically, BDO is the clear winner. You can explore more about how BDO and Security Bank compare on this product in our home loan takeout rates comparison.
Why Apply Through Nook Instead of Going Directly?
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. When you apply through Nook, you get:
- Access to multiple banks at once — submit one application, get offers from BDO, Security Bank, and other partner banks
- Expert guidance — a dedicated advisor helps you pick the right bank for your income type, loan purpose, and goals
- Faster processing — Nook knows what each bank needs, reducing back-and-forth and delays
- No broker fees — 100% free to you, always
Whether you're buying your first home, refinancing to a lower rate, or unlocking equity in your property, Nook helps you get the best deal without the guesswork.
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Compare My Options →Frequently Asked Questions
Which bank has a lower housing loan rate in 2026 — BDO or Security Bank?
On a 1-year fixed basis, BDO currently offers the lower rate at 6.00% p.a., compared to Security Bank's 6.99% p.a. However, Security Bank offers a 5-year fixed option at 6.75% p.a., which BDO does not currently list — making it the better choice for borrowers who want longer rate certainty. Rates are subject to change, so always verify current offers through Nook or directly with the bank.
Is Security Bank or BDO easier to get approved at?
Both banks have similar minimum income requirements (50,000 per month) and maximum debt-to-income ratios (40%). Security Bank has a slight edge for borrowers who are freelancers, as BDO does not currently list freelancers as an accepted employment type. For most salaried employees, government workers, OFWs, and self-employed individuals, both banks are accessible.
Which bank approves housing loans faster — BDO or Security Bank?
Security Bank typically approves home loans in around 23 days, while BDO's typical approval timeline is around 30 days. Actual timelines depend on how quickly you can submit complete documents. Applying through Nook can help speed up the process at both banks since advisors know exactly what's required.
Can I apply to both BDO and Security Bank at the same time?
Yes — and through Nook, this is easy. Nook is a free digital mortgage broker that lets you submit one application and receive offers from multiple partner banks, including both BDO and Security Bank. There's no cost to you, and you're never obligated to accept any offer.
Which bank is better for a home equity loan — BDO or Security Bank?
BDO is significantly better for home equity loans, offering a rate of 6.00% p.a. compared to Security Bank's 7.50% p.a. — a difference of 150 basis points. On a large loan amount over many years, this translates to substantial savings. If your primary goal is a home equity loan, BDO is the stronger option at current rates.
Is Nook's mortgage brokering service really free?
Yes, completely free. Nook earns a referral fee from the bank when your loan is approved — you pay nothing extra. The rate you receive through Nook is the same as or better than what you'd get applying directly, because Nook negotiates on your behalf and helps match you to the bank most likely to approve your application at the best terms.
What loan purposes do both BDO and Security Bank cover?
Both banks cover the same core loan purposes: Ready For Occupancy (RFO), pre-selling, new construction, reselling, refinancing, renovation, home equity, and foreclosed properties. Neither bank has a significant advantage here — your choice should be driven by rate, approval speed, and eligibility.
How much can I save by refinancing from 8% to BDO's 6.00% rate?
On a 3,000,000 loan with 20 years remaining, refinancing from 8.00% to 6.00% could reduce your monthly payment from approximately 25,093 to around 21,491 — a saving of about 3,602 per month, or roughly 43,224 per year. Over several years, that adds up to significant savings. Use Nook's free calculator or speak to a Nook advisor to get a personalized estimate based on your actual loan balance and remaining term.