BPI Family Savings Bank vs Security Bank

BPI Family Savings Bank vs Security Bank: At a Glance

Both BPI Family Savings Bank and Security Bank are Nook partner banks, meaning you can compare and apply to either — or both — through Nook at zero cost to you. The table below summarises their key home loan parameters for 2026.

Interest rates are subject to change. Please verify current rates with the bank or through your Nook mortgage broker before applying.

Interest Rate Comparison: Which Bank is Cheaper?

For most Filipino homeowners refinancing in 2026, the 5-year fixed period is the most popular choice — it locks in your rate for long enough to plan your finances, while still being shorter than a full loan term. Here's how BPI and Security Bank compare on that benchmark:

• BPI Family Savings Bank 5-Year Fixed: 6.50% p.a.
• Security Bank 5-Year Fixed: 6.75% p.a.

That 0.25 percentage point difference may sound small, but on a ₱3,000,000 loan over 20 years, it translates to a meaningful difference in your monthly amortisation and total interest paid. At 6.50%, your estimated monthly payment during the fixed period is approximately 22,368. At 6.75%, it rises to approximately 22,715 — a difference of about 347 per month, or roughly 4,164 per year.

On a 1-year fixed basis, BPI again leads: 6.70% versus Security Bank's 6.99%. If you plan to reprice frequently or expect rates to fall further, the 1-year fix from BPI offers more flexibility at a lower starting cost.

For home equity loans specifically, the gap widens significantly. BPI's home equity rate is 6.70% compared to Security Bank's 7.50% — an 0.80 percentage point difference that makes BPI considerably more competitive for homeowners looking to unlock the equity in their property.

Approval Speed: Security Bank Wins by a Wide Margin

One of the most underrated factors in any home loan comparison is how long it actually takes to get approved. Delays can cost you a property, hold up a sale, or simply drag on your stress levels for months.

• BPI Family Savings Bank: Typical approval in 52 days
• Security Bank: Typical approval in 23 days

Security Bank's 23-day turnaround is one of the fastest among Philippine banks. That's a difference of nearly a full month compared to BPI's 52-day typical timeline. If you're refinancing under time pressure — for example, because your current bank's lock-in period is ending and you want to avoid being re-priced to a higher rate — Security Bank's speed is a genuine advantage.

That said, "typical" approval times depend heavily on how complete your documents are when you submit. A Nook mortgage broker will help you prepare your documents correctly the first time, which can significantly reduce delays at either bank.

Income Requirements & Eligibility

BPI Family Savings Bank requires a minimum monthly income of 40,000, while Security Bank sets its threshold at 50,000. This 10,000 difference matters if you're a borrower with a combined household income in the 40,000–49,999 range — you would qualify at BPI but not at Security Bank.

Both banks accept a wide range of employment types, including:

• Private sector employees
• Government employees
• BPO workers
• OFWs and seafarers
• Self-employed individuals
• Licensed professionals

Security Bank also explicitly accepts freelancers, which BPI does not list as a supported employment category. If you work as a freelancer with documented income, Security Bank may be the more accessible option.

Both banks cap debt-to-income (DTI) at 40%, meaning your total monthly debt obligations — including the new home loan — should not exceed 40% of your gross monthly income.

Loan Purposes: What Can You Use the Loan For?

Both banks cover a comprehensive range of loan purposes, and both explicitly support refinancing — which is the primary reason most Nook clients compare these two banks.

Because both banks cover the same loan purposes, your decision between them is unlikely to hinge on what you're borrowing for — it will come down to rate, speed, and eligibility instead.

How Much Could You Save by Refinancing?

Many Filipino homeowners are still paying rates between 7% and 10% on their existing home loans. Refinancing to either BPI or Security Bank through Nook could produce significant savings. Here are some illustrative comparisons based on a ₱3,000,000 loan balance with 15 years remaining:

Switching from 8.50% to BPI's 6.50% saves approximately 3,385 per month — that's 40,620 per year back in your pocket. Even Security Bank's 6.75% saves you around 2,957 per month. See a more detailed breakdown of BPI vs Security Bank refinancing savings to understand what these numbers mean for your specific loan amount.

Note: Monthly payment estimates are illustrative only and assume a fully amortising loan. Actual figures will vary based on your remaining balance, loan term, fees, and the bank's final approved rate. Always confirm exact figures with your Nook broker.

Why Apply Through Nook Instead of Going Directly?

Whether you choose BPI Family Savings Bank or Security Bank, applying through Nook gives you advantages that going direct to the bank cannot match:

• One application, two banks: Nook can submit your profile to both banks simultaneously, so you get competing offers without doubling your paperwork.
• Free service: Nook's broker service is completely free to borrowers. The bank pays the broker fee, not you.
• Expert document review: A licensed mortgage broker will review your documents before submission, reducing the risk of delays or rejection.
• Rate monitoring: Nook tracks rate movements across all partner banks, so you'll always know when a better deal becomes available.

If you're still weighing your options beyond just these two banks, our three-way comparison of BPI, Metrobank, and Security Bank may help you see the broader picture before you decide.