Interest Rates Comparison
BDO Unibank Takeout Rates
- Home Equity: 6.00% p.a.
- 1-Year Fixed: 6.00% p.a.
Security Bank Takeout Rates
- 5-Year Fixed: 6.75% p.a.
- 1-Year Fixed: 6.99% p.a.
- Home Equity: 7.50% p.a.
Both banks offer competitive takeout rates significantly lower than the 7-10% range most Filipino homeowners currently pay. BDO provides the absolute lowest rate at 6.00%, while Security Bank offers more term flexibility.
Loan Purpose Flexibility
BDO Loan Purposes
- Home Equity
- Foreclosed Properties
- New Construction
- Pre-Selling Units
- Ready For Occupancy (RFO)
- Renovation Projects
- Reselling Properties
Security Bank Loan Purposes
- Foreclosed Properties
- Home Equity
- New Construction
- Pre-Selling Units
- Ready For Occupancy (RFO)
- Refinancing
- Renovation Projects
- Reselling Properties
Security Bank offers slightly broader loan purpose coverage, including explicit refinancing options. Both banks accommodate most common takeout scenarios including foreclosed properties and new construction projects.
Processing Speed & Requirements
BDO Processing
- Approval Time: 30 days typically
- Min Monthly Income: 50,000
- Max Debt-to-Income: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
Security Bank Processing
- Approval Time: 23 days typically
- Min Monthly Income: 50,000
- Max Debt-to-Income: 40%
- Employment Types: 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 maintain the same accessible income requirements and DTI limits, making them suitable for middle-income Filipino families.
Sample Monthly Payment Comparison
For a 3,000,000 loan takeout over 20 years:
BDO at 6.00%
Monthly Payment: 21,493
Total Interest: 2,158,353
Security Bank at 6.75%
Monthly Payment: 22,671
Total Interest: 2,441,058
Monthly Savings with BDO: 1,178
Total Interest Savings: 282,705 over the loan term
The rate difference translates to substantial long-term savings, though both rates represent significant improvements over typical 8-9% market rates. For comprehensive rate comparisons, see our detailed BDO vs Security Bank home loan analysis.
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Compare My Options →Frequently Asked Questions
Which bank offers better takeout rates between BDO and Security Bank?
BDO offers the better takeout rate at 6.00% for home equity loans, compared to Security Bank's lowest rate of 6.75% for 5-year fixed terms. However, Security Bank provides more term options and faster processing at 23 days versus BDO's 30 days.
What's the difference between BDO and Security Bank takeout loan requirements?
Both banks require the same minimum monthly income of 50,000 and maximum 40% debt-to-income ratio. The key difference is that Security Bank accepts freelancers while BDO does not, and Security Bank processes applications faster at 23 days versus 30 days for BDO.
How much can I save with BDO's lower takeout rate?
On a 3,000,000 loan over 20 years, BDO's 6.00% rate saves you 1,178 monthly and 282,705 total interest compared to Security Bank's 6.75% rate. Both rates still offer significant savings versus typical 8-9% market rates.
Can I apply for both BDO and Security Bank takeout loans through Nook?
Yes, both BDO and Security Bank are Nook partner banks. You can apply to both simultaneously through Nook's free service to compare actual loan offers and choose the best terms for your specific situation.
What loan purposes do BDO and Security Bank support for takeouts?
Both banks support most common takeout purposes including home equity, foreclosed properties, new construction, and RFO units. Security Bank offers slightly broader coverage with explicit refinancing support, while both accommodate renovation and reselling properties.