BPI vs Security Bank vs Metrobank Housing Loan: Rate Comparison for 2026
Choosing the right bank for your housing loan can save you hundreds of thousands of pesos over the life of your loan. Below is a side-by-side breakdown of BPI Family Savings Bank, Security Bank, and Metrobank — covering interest rates, approval timelines, income requirements, and more.
Note: BPI Family Savings Bank and Security Bank are verified Nook partner banks. Rates shown for these two banks are current and confirmed. Metrobank rates are approximate figures based on publicly available information and are subject to change — always verify directly with Metrobank before applying.
Interest Rate Comparison
| Fixed Period | BPI Family Savings Bank | Security Bank | Metrobank (Approx.) |
|---|---|---|---|
| 1-Year Fixed | 6.70% p.a. | 6.99% p.a. | ~7.50% p.a. |
| 3-Year Fixed | N/A | 7.25% p.a. | ~7.75% p.a. |
| 5-Year Fixed | 6.50% p.a. | 7.75% p.a. | ~8.00% p.a. |
| Home Equity | 6.70% p.a. | 7.50% p.a. | ~8.50% p.a. |
BPI Family Savings Bank's 5-year fixed rate of 6.50% p.a. is the standout figure in this comparison — it's among the most competitive housing loan rates currently available from any Philippine bank. Security Bank's 1-year fixed rate of 6.99% p.a. is also competitive. Metrobank's approximate rates tend to run higher across the board.
For a broader view of how these banks stack up against the rest of the market, see our Home Loan Philippines Bank Comparison 2026.
Monthly Payment Comparison
To illustrate what these rates actually mean for your wallet, here are estimated monthly payments for a 3,000,000 peso loan over a 20-year term at different fixed rates:
| Bank | Rate Used | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| BPI Family Savings Bank (5-yr fixed) | 6.50% | 22,368 | 2,368,320 |
| BPI Family Savings Bank (1-yr fixed) | 6.70% | 22,671 | 2,440,920 |
| Security Bank (1-yr fixed) | 6.99% | 23,110 | 2,546,400 |
| Security Bank (3-yr fixed) | 7.25% | 23,506 | 2,641,440 |
| Metrobank (approx. 5-yr fixed) | 8.00% | 25,093 | 3,022,320 |
Estimates assume a 3,000,000 peso loan over 20 years. Actual payments will vary based on final approved rate, loan amount, term, and fees. Metrobank figures are approximate.
The difference between BPI's 5-year fixed rate and Metrobank's approximate 5-year rate adds up to over 653,000 pesos in total interest over 20 years on a 3-million peso loan — a significant amount that underscores why rate shopping matters.
Eligibility & Requirements Comparison
| Criteria | BPI Family Savings Bank | Security Bank | Metrobank (Approx.) |
|---|---|---|---|
| Min. Monthly Income | 40,000 | 50,000 | ~50,000–60,000 |
| Max. Debt-to-Income Ratio | 40% | 40% | ~35–40% |
| Typical Approval Time | 52 days | 23 days | ~30–45 days |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer | Private, Government, Self-Employed (varies) |
BPI Family Savings Bank has the lowest minimum income requirement at 40,000 pesos per month, making it more accessible to a wider range of borrowers. Security Bank accepts the broadest range of employment types — including freelancers — and leads the pack with its 23-day approval timeline, which is exceptionally fast by Philippine banking standards.
Loan Purposes Supported
| Loan Purpose | BPI Family Savings Bank | Security Bank | Metrobank |
|---|---|---|---|
| Purchase (RFO) | ✓ | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ | ✓ |
| Refinancing | ✓ | ✓ | ✓ |
| Home Equity / Rehousing | ✓ | ✓ | Varies |
| Renovation | ✓ | ✓ | Varies |
| New Construction | ✓ | ✓ | Varies |
| Foreclosed Property | ✓ | ✓ | Varies |
| Reselling | ✓ | ✓ | Varies |
Both BPI Family Savings Bank and Security Bank support a comprehensive range of loan purposes. Metrobank's coverage of certain purposes like home equity and renovation may vary by branch and current promotion — verify with Metrobank directly for your specific need.
Refinancing: Which Bank Should You Choose?
If you're currently paying a housing loan rate above 7%, refinancing could save you a meaningful amount every month. BPI Family Savings Bank's 5-year fixed rate of 6.50% p.a. is particularly compelling for refinancers who want rate stability over a longer period. Security Bank's fast 23-day approval makes it attractive if you want to lock in savings quickly.
Nook's free refinancing service lets you apply to multiple partner banks — including BPI Family Savings Bank and Security Bank — with a single application. You get verified rates, expert guidance, and zero broker fees. See how BPI and Security Bank compare head-to-head with Metrobank in our detailed BPI vs Security Bank vs Metrobank Home Loan Rates 2026 complete comparison.
Key Takeaways
- Lowest rate: BPI Family Savings Bank at 6.50% p.a. (5-year fixed)
- Fastest approval: Security Bank at approximately 23 days
- Most accessible income requirement: BPI Family Savings Bank at 40,000/month
- Broadest employment types: Security Bank (includes freelancers)
- Metrobank: A well-known institution but rates are generally higher; always confirm current figures directly
- Best move: Apply through Nook for free to compare BPI and Security Bank offers side by side with no obligation
Interest rates are subject to change. All figures should be verified with the respective bank or through Nook before making a financial decision.
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Compare My Options →Frequently Asked Questions
Which bank has the lowest housing loan rate among BPI, Security Bank, and Metrobank in 2026?
Based on current verified data, BPI Family Savings Bank offers the lowest rate at 6.50% p.a. for a 5-year fixed period. Security Bank's 1-year fixed rate of 6.99% p.a. is also competitive. Metrobank's rates are approximately 7.50% to 8.00% depending on the fixed period, though these figures are based on publicly available information and should be confirmed directly with the bank.
How much can I save by choosing BPI over Metrobank for a home loan?
On a 3,000,000 peso loan over 20 years, choosing BPI Family Savings Bank's 5-year fixed rate of 6.50% p.a. over Metrobank's approximate 8.00% rate could save you over 650,000 pesos in total interest payments. Monthly savings would be roughly 2,700 pesos per month. Actual savings depend on your approved rate, loan amount, and term.
Which bank approves home loans the fastest?
Security Bank has the fastest typical approval timeline among the three, at approximately 23 days. BPI Family Savings Bank typically takes around 52 days. Metrobank's approval timeline is approximately 30 to 45 days, though this can vary depending on the complexity of your application and required documents.
What is the minimum income required to qualify for a housing loan at each bank?
BPI Family Savings Bank requires a minimum monthly income of 40,000 pesos, making it the most accessible of the three. Security Bank requires at least 50,000 pesos per month. Metrobank's minimum is approximately 50,000 to 60,000 pesos, though requirements can vary. All three banks apply a maximum debt-to-income ratio of around 35% to 40%.
Can OFWs and self-employed borrowers apply for a housing loan at these banks?
Yes. Both BPI Family Savings Bank and Security Bank explicitly support OFW/Seafarer and Self-Employed borrowers. Security Bank also accepts freelancers, which makes it particularly flexible for non-traditional income earners. Metrobank's acceptance of OFW and self-employed applicants may vary — confirm eligibility directly with the bank.
Is it better to fix my rate for 1 year or 5 years?
It depends on your outlook on interest rates and your need for payment stability. A 5-year fixed rate (like BPI's 6.50% p.a.) gives you certainty for longer and protects you if rates rise. A 1-year fixed rate may be lower initially but reprices sooner, introducing rate risk. If you plan to stay in your home long-term and want predictable payments, a 5-year fixed rate is often the safer choice.
Is Nook's mortgage broker service really free?
Yes. Nook's service is 100% free to the borrower. Nook is compensated by the bank when your loan is approved, not by you. You get access to verified rates from multiple partner banks, personalized guidance, and a streamlined application — all at no cost.
Can I refinance my existing home loan through Nook?
Yes. Refinancing is one of the most common reasons Filipino homeowners use Nook. If you're currently paying a rate above 7%, refinancing to BPI Family Savings Bank's 6.50% p.a. or Security Bank's rates could significantly reduce your monthly payment and total interest paid. Nook handles the comparison and paperwork for you at no charge.