Interest Rate Comparison
BDO Unibank
- 1-Year Fixed: 6.00%
- Home Equity: 6.00%
- Lowest rates among the three banks
UnionBank
- 1-Year Fixed: 7.00%
- Home Equity: 7.00%
- Competitive mid-tier rates
Security Bank
- 1-Year Fixed: 6.99%
- 5-Year Fixed: 6.75%
- Home Equity: 7.50%
- Multiple term options available
Savings Calculation Example
For a 5,000,000 loan over 20 years, here's how much you could save by choosing the lowest rate:
| Bank | Rate | Monthly Payment | Total Interest | Savings vs Highest |
|---|---|---|---|---|
| BDO | 6.00% | 35,820 | 3,596,800 | Save 1,392,000 |
| Security Bank | 6.75% | 37,856 | 4,085,440 | Save 903,360 |
| UnionBank | 7.00% | 38,765 | 4,303,600 | Save 685,200 |
| Security Bank (Home Equity) | 7.50% | 40,368 | 4,988,800 | Baseline |
Income and DTI Requirements
BDO Unibank
- Min Monthly Income: 50,000
- Max DTI: 40%
- Standard requirements for stable employment
UnionBank
- Min Monthly Income: 30,000
- Max DTI: 50%
- Most flexible qualification requirements
Security Bank
- Min Monthly Income: 50,000
- Max DTI: 40%
- Same standards as BDO
UnionBank stands out with the most accessible income requirement at just 30,000 monthly and allows up to 50% debt-to-income ratio, making it ideal for borrowers with tighter budgets.
Processing Time and Approval
Security Bank - 23 Days
Fastest processing among the three banks, ideal for urgent refinancing needs.
BDO Unibank - 30 Days
Standard processing time with comprehensive evaluation.
UnionBank - 30-45 Days
Slightly longer processing but thorough assessment for flexible terms.
Employment and Loan Purpose Flexibility
All three banks accept a wide range of employment types and loan purposes:
Employment Types (All Banks)
- Private employees
- Government workers
- BPO employees
- OFWs and seafarers
- Self-employed
- Professionals
Note: Security Bank also accepts freelancers.
Loan Purposes (All Banks)
- Home equity
- Foreclosed properties
- New construction
- Pre-selling units
- Ready for occupancy (RFO)
- Renovation
- Reselling
Note: Security Bank also offers dedicated refinancing products.
Why Choose Nook for Your Application
All three banks are Nook partner institutions, which means you get:
- Free broker service - No fees charged to borrowers
- Expert guidance through the application process
- Rate comparison to ensure you get the best deal
- Streamlined applications to multiple banks simultaneously
For a detailed comparison between just two of these banks, check out our BDO vs UnionBank comparison or explore our comprehensive three-bank analysis including Metrobank.
Important Notes
Interest Rate Disclaimer: Interest rates are subject to change and may vary based on individual creditworthiness, loan amount, and market conditions. Borrowers should verify current rates directly with the banks or through Nook's consultation service.
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Compare My Options →Frequently Asked Questions
Which bank offers the lowest home loan rates among BDO, UnionBank, and Security Bank?
BDO offers the lowest rates at 6.00% for both 1-year fixed and home equity loans, compared to UnionBank's 7.00% and Security Bank's 6.99%-7.50% range.
What are the minimum income requirements for each bank?
UnionBank has the most accessible requirement at 30,000 monthly income, while both BDO and Security Bank require a minimum of 50,000 monthly income.
Which bank processes home loan applications the fastest?
Security Bank offers the fastest processing at approximately 23 days, followed by BDO at 30 days, while UnionBank typically takes 30-45 days.
What is the maximum debt-to-income ratio allowed by each bank?
UnionBank offers the most flexible DTI at up to 50%, while both BDO and Security Bank have a maximum DTI requirement of 40%.
Can I apply to all three banks through Nook?
Yes, all three banks are Nook partner institutions. You can apply to multiple banks simultaneously through Nook's free broker service to compare offers and choose the best terms.
How much can I save by choosing BDO's lower rates?
For a 5,000,000 loan over 20 years, choosing BDO's 6.00% rate instead of Security Bank's 7.50% home equity rate could save you approximately 1,392,000 in total interest payments.