Interest Rate Comparison
BDO 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 the rate competition, offering a full percentage point advantage on 1-year fixed rates. For a 5,000,000 loan over 20 years, this 0.99% difference translates to approximately 4,500 monthly savings and 1,080,000 in total interest savings over the loan term.
Processing Speed & Requirements
| Factor | BDO | Security Bank |
|---|---|---|
| Typical Approval Time | 30 days | 23 days |
| Minimum Monthly Income | 50,000 | 50,000 |
| Maximum DTI Ratio | 40% | 40% |
| Employment Types | Private, Government, BPO, OFW, Self-Employed, Professional | Private, Government, BPO, OFW, Self-Employed, Professional, Freelancer |
Security Bank processes applications 7 days faster and uniquely accommodates freelancers, making it more accessible for modern workforce arrangements. Both banks maintain identical income and DTI requirements, ensuring broad market accessibility.
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 offers explicit refinancing products and broader loan purpose coverage, while both banks comprehensively serve various property investment needs. For homeowners specifically looking to refinance existing mortgages, Security Bank's dedicated refinancing option provides specialized service.
Monthly Payment Calculations
Here's how different loan amounts compare between these banks:
| Loan Amount | BDO (6.00%) | Security Bank (6.99%) | Monthly Savings |
|---|---|---|---|
| 2,000,000 | 14,328 | 15,588 | 1,260 |
| 5,000,000 | 35,821 | 38,970 | 3,149 |
| 8,000,000 | 57,314 | 62,352 | 5,038 |
These calculations assume 20-year terms and demonstrate substantial monthly savings with BDO's lower rates. As both are Nook partner banks, you can access these competitive rates through our free broker service.
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Compare My Options →Frequently Asked Questions
Which bank offers better rates between BDO and Security Bank for refinancing?
BDO offers significantly better rates at 6.00% for both 1-year fixed and home equity loans, compared to Security Bank's 6.99% 1-year rate and 7.50% home equity rate. This rate advantage can save homeowners thousands per month and hundreds of thousands over the loan term.
How much faster is Security Bank's processing compared to BDO?
Security Bank processes loan applications in approximately 23 days compared to BDO's 30-day typical approval time. This 7-day advantage can be crucial for homeowners with time-sensitive refinancing needs or property transactions.
Do BDO and Security Bank have the same income requirements?
Yes, both banks require a minimum monthly income of 50,000 and maintain a maximum debt-to-income ratio of 40%. However, Security Bank uniquely accommodates freelancers in addition to the standard employment types both banks accept.
Can I refinance my existing mortgage with both BDO and Security Bank?
Yes, both banks offer refinancing options, though Security Bank explicitly lists refinancing as a dedicated loan purpose. Both banks are Nook partners, meaning you can access their competitive rates and professional guidance through our free broker service.
How much can I save monthly by choosing BDO over Security Bank?
Monthly savings depend on your loan amount, but BDO's 0.99% rate advantage translates to approximately 1,260 monthly savings on a 2,000,000 loan, 3,149 on a 5,000,000 loan, and 5,038 on an 8,000,000 loan, assuming 20-year terms.
Should I choose BDO or Security Bank for my home loan refinance?
Choose BDO if you prioritize the lowest possible interest rate and long-term savings. Choose Security Bank if you need faster processing, are a freelancer, or prefer their explicit refinancing products. Both are excellent Nook partner banks with accessible requirements and professional service.