BPI Family Savings Bank vs Security Bank: Interest Rate Comparison (2026)
Interest rates are the single biggest factor in your monthly repayment — and the gap between these two banks is substantial. BPI Family Savings Bank currently offers a 1-year fixed rate of 6.70% and a 5-year fixed rate of 6.50%, making it one of the most competitive options available through Nook. Security Bank's rates start at 6.99% for a 1-year fix, rising to 7.25% for 3 years and 7.75% for 5 years.
To put this in concrete terms: on a 3,000,000 peso loan over 20 years, choosing BPI's 5-year fixed rate of 6.50% versus Security Bank's 5-year rate of 7.75% would save you approximately 19,000 pesos per year in interest during the fixed period — that's over 95,000 pesos over five years.
| Fix Period | BPI Family Savings Bank | Security Bank |
|---|---|---|
| 1-Year Fixed | 6.70% | 6.99% |
| 3-Year Fixed | — | 7.25% |
| 5-Year Fixed | 6.50% | 7.75% |
| Home Equity | 6.70% | 7.50% |
Note: Interest rates are subject to change. Always verify the latest rates directly with the bank or through Nook before making a decision.
Monthly Repayment Examples
The table below shows estimated monthly repayments for common loan amounts using each bank's 5-year fixed rate. These figures are for illustration only and do not include fees, insurance, or taxes.
| Loan Amount | Term | BPI @ 6.50% | Security Bank @ 7.75% | Monthly Savings with BPI |
|---|---|---|---|---|
| 2,000,000 | 20 years | 14,921 | 16,446 | 1,525 |
| 3,000,000 | 20 years | 22,381 | 24,669 | 2,288 |
| 5,000,000 | 20 years | 37,302 | 41,115 | 3,813 |
| 7,000,000 | 20 years | 52,222 | 57,561 | 5,339 |
For most homeowners currently paying 8% or higher, refinancing to BPI's 6.50% 5-year fixed rate through Nook could reduce monthly repayments by 10% to 20% — freeing up thousands of pesos every month.
Eligibility Requirements Compared
Both banks serve a wide range of borrower profiles, but there are key differences in income thresholds and employment types accepted.
| Requirement | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Minimum Monthly Income | 40,000 | 50,000 |
| Maximum DTI Ratio | 40% | 40% |
| Private Employed | Yes | Yes |
| Government Employed | Yes | Yes |
| BPO Workers | Yes | Yes |
| OFW / Seafarers | Yes | Yes |
| Self-Employed | Yes | Yes |
| Professionals | Yes | Yes |
| Freelancers | No | Yes |
BPI Family Savings Bank's lower minimum income requirement of 40,000 pesos per month makes it accessible to a broader range of Filipino homeowners. Security Bank requires at least 50,000 pesos per month but does have an edge for freelancers, a growing segment of the Filipino workforce that BPI does not currently accommodate.
Loan Purposes Accepted
Both banks cover the full spectrum of home loan purposes, making them suitable whether you're refinancing, purchasing, or renovating.
| Loan Purpose | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Refinancing | Yes | Yes |
| Ready For Occupancy (RFO) | Yes | Yes |
| Pre-Selling | Yes | Yes |
| New Construction | Yes | Yes |
| Renovation | Yes | Yes |
| Home Equity / Cash-Out | Yes | Yes |
| Foreclosed Properties | Yes | Yes |
| Reselling | Yes | Yes |
For refinancing specifically, both banks are strong options. If you're unsure which loan purpose applies to your situation, Nook's advisors can help you identify the right product at no cost to you.
Approval Speed & Processing Time
One of the starkest differences between these two banks is how long it takes to get approved. Security Bank's typical approval timeline is just 23 days — making it one of the fastest-processing banks in the Philippines for home loans. BPI Family Savings Bank typically takes around 52 days to process and approve a home loan application.
If you're refinancing to escape a repricing deadline or need to settle an existing loan quickly, Security Bank's speed advantage could outweigh BPI's rate advantage. For borrowers with no urgent timeline, the extra wait for BPI's lower rate is almost always worth it.
Nook helps you submit complete, accurate applications to either bank — reducing the risk of delays caused by missing documents or errors. Many Nook clients report that preparation time is significantly reduced when applying through a broker.
Home Equity Loans: BPI vs Security Bank
If you're looking to borrow against the equity in your home — for renovations, business capital, or other needs — both banks offer home equity products. BPI Family Savings Bank's home equity rate is 6.70%, while Security Bank charges 7.50% for the same product. That's an 80 basis point difference, which on a 2,000,000 peso equity loan over 10 years equates to roughly 8,000 to 9,000 pesos per year in additional interest with Security Bank.
For a deeper look at how these two banks compare specifically on refinancing terms, you can read our detailed guide on BPI vs Security Bank home loan rates and refinance terms.
Which Bank Should You Choose?
The right choice depends on your personal situation:
- Choose BPI Family Savings Bank if: You want the lowest possible rate, you earn at least 40,000 pesos per month, you're not a freelancer, and you have 6–8 weeks before your repricing date or loan deadline.
- Choose Security Bank if: You need approval within a month, you're a freelancer, or your income is between 40,000 and 50,000 pesos and you can meet Security Bank's threshold (note: Security Bank requires 50,000 minimum, so this applies to those earning 50,000+). Actually, if you earn between 40,000 and 49,999, BPI is your only option of the two.
- Apply to both through Nook: Nook can submit your application to multiple partner banks simultaneously at zero cost to you, letting you compare real approval offers side by side before making a final decision.
Nook's service is completely free for borrowers — the banks pay the broker fee. There is no obligation and no hidden charges.
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Compare My Options →Frequently Asked Questions
What is the current home loan interest rate at BPI Family Savings Bank?
As of 2026, BPI Family Savings Bank offers a 1-year fixed rate of 6.70% and a 5-year fixed rate of 6.50% for home loans and refinancing. Home equity loans are also available at 6.70%. Rates are subject to change, so always confirm the latest figures before applying.
What is the current home loan interest rate at Security Bank?
Security Bank's 2026 home loan rates are: 6.99% for a 1-year fix, 7.25% for 3 years, and 7.75% for 5 years. Their home equity rate is 7.50%. Rates are subject to change — verify the current rate with Security Bank or through Nook before proceeding.
Which bank has the lower interest rate — BPI or Security Bank?
BPI Family Savings Bank has lower rates across all comparable fix periods. Their 5-year fixed rate of 6.50% is 1.25 percentage points lower than Security Bank's 5-year rate of 7.75%. Over a 20-year loan of 3,000,000 pesos, this difference saves over 95,000 pesos during the 5-year fixed period alone.
How long does it take to get approved at BPI vs Security Bank?
Security Bank is significantly faster, with a typical approval time of around 23 days. BPI Family Savings Bank typically takes around 52 days. If you're working against a deadline — such as an upcoming loan repricing — Security Bank's speed may be a decisive advantage.
What is the minimum income requirement for BPI and Security Bank home loans?
BPI Family Savings Bank requires a minimum monthly income of 40,000 pesos, while Security Bank requires at least 50,000 pesos per month. Both banks cap the debt-to-income (DTI) ratio at 40%, meaning your total monthly debt obligations — including the new home loan repayment — should not exceed 40% of your gross monthly income.
Can freelancers apply for a home loan at BPI or Security Bank?
Security Bank accepts freelancers as eligible borrowers, which gives it a clear advantage for this growing segment of Filipino workers. BPI Family Savings Bank currently does not list freelancers among its accepted employment types. Both banks accept private employees, government workers, BPO workers, OFWs and seafarers, self-employed individuals, and professionals.
Can I refinance my existing home loan with BPI or Security Bank?
Yes, both BPI Family Savings Bank and Security Bank accept refinancing as a loan purpose. Refinancing is one of the most common reasons Filipinos apply through Nook — most homeowners who refinance are currently paying rates between 7% and 10%, and switching to BPI's 6.50% 5-year fixed rate can result in substantial monthly savings. Nook's refinancing service is 100% free for borrowers.
Is it possible to apply to both BPI and Security Bank at the same time?
Yes, and Nook actually recommends this approach. By applying to multiple partner banks simultaneously through Nook, you can compare real approval offers — including final rates and terms — before committing. Nook handles the submission process for free, and you're under no obligation to accept any offer. See our full breakdown in our guide on BPI vs Security Bank home loan rates and requirements.
How much can I save by refinancing from 8% to BPI's 6.50% rate?
On a 3,000,000 peso loan with 20 years remaining, refinancing from 8% to 6.50% would reduce your monthly payment from approximately 25,093 pesos to 22,381 pesos — a saving of around 2,712 pesos per month, or over 32,500 pesos per year. Over the 5-year fixed period, that's more than 162,000 pesos in savings before repricing.
Does Nook charge a fee for helping me compare BPI and Security Bank?
No. Nook's service is completely free for borrowers. Nook is paid a broker fee by the bank — only after your loan is successfully disbursed. You pay nothing, and there are no hidden charges or obligations at any stage of the process.