Interest Rate Comparison
BDO Unibank Rates
- 1-Year Fixed: 6.00% p.a.
- Home Equity: 6.00% p.a.
Security Bank Rates
- 1-Year Fixed: 6.99% p.a.
- 5-Year Fixed: 6.75% p.a.
- Home Equity: 7.50% p.a.
Interest rates are subject to change. Verify current rates with your chosen lender.
Monthly Payment Comparison
For a 3,000,000 refinance loan over 20 years:
BDO at 6.00%
Monthly Payment: 21,492
Total Interest: 2,158,080
Security Bank at 6.75%
Monthly Payment: 22,714
Total Interest: 2,451,360
Monthly Savings with BDO: 1,222
Total Interest Savings: 293,280 over 20 years
Processing Speed & Requirements
BDO Processing
- Typical Approval: 30 days
- Min Monthly Income: 50,000
- Max DTI Ratio: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
Security Bank Processing
- Typical Approval: 23 days
- Min Monthly Income: 50,000
- Max DTI Ratio: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer
Winner: Security Bank processes applications 7 days faster and accepts freelancers.
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
Both banks offer comprehensive loan purposes. Security Bank explicitly includes refinancing, while both support major property types and purposes.
Why Choose Nook for Your Refinance
Both BDO and Security Bank are trusted Nook partner banks, meaning you get:
- Free broker service - no fees to you
- Expert guidance through the application process
- Rate comparison to ensure you get the best deal
- Streamlined applications with dedicated support
Whether you choose BDO's lower rates or Security Bank's faster processing, Nook helps you navigate the refinancing process at no cost. Our partnership with both banks means competitive rates and professional service throughout your loan journey.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
Which bank offers better refinance rates - BDO or Security Bank?
BDO offers better rates at 6.00% for both 1-year fixed and home equity loans, compared to Security Bank's 6.99% 1-year fixed rate. However, Security Bank provides a competitive 6.75% 5-year fixed option for borrowers seeking longer rate certainty.
How much faster does Security Bank process refinance applications?
Security Bank typically approves refinance applications in 23 days, which is 7 days faster than BDO's 30-day typical approval time. This faster processing can be crucial if you need to complete your refinance quickly.
What are the minimum income requirements for BDO vs Security Bank refinancing?
Both banks require the same minimum monthly income of 50,000 and maximum debt-to-income ratio of 40%. However, Security Bank accepts freelancers in addition to the standard employment types that both banks accept.
Can I refinance any type of property with both banks?
Yes, both BDO and Security Bank support refinancing for foreclosed properties, new construction, pre-selling units, RFO properties, renovations, and reselling. Both also offer home equity loans for existing homeowners.
How much can I save by refinancing with BDO vs Security Bank?
On a 3,000,000 loan over 20 years, BDO's 6.00% rate saves you 1,222 monthly compared to Security Bank's 6.99% rate, totaling 293,280 in interest savings over the loan term. However, Security Bank's 5-year fixed 6.75% rate offers a middle ground with rate certainty.
Does Nook charge fees for helping with BDO or Security Bank refinancing?
No, Nook's service is 100% free to borrowers. As a digital mortgage broker partnered with both BDO and Security Bank, we help you compare rates, prepare applications, and navigate the refinancing process at no cost to you.