BPI vs Security Bank: Interest Rates at a Glance
Both BPI Family Savings Bank and Security Bank are Nook partner banks, which means you can apply to either — or both — through Nook at absolutely no cost. Below are the verified rates for 2026.
| Fixed Period | BPI Family Savings Bank | Security Bank |
|---|---|---|
| 1-Year Fixed | 6.70% p.a. | 6.99% p.a. |
| 5-Year Fixed | 6.50% p.a. | 6.75% p.a. |
| Home Equity | 6.70% p.a. | 7.50% p.a. |
Interest rates are subject to change. Always verify current rates with the bank or through your Nook advisor before submitting your application.
Monthly Payment Comparison: How Much Could You Save?
To make this concrete, here's how much your monthly payment would differ between BPI and Security Bank across common loan amounts, using a 20-year term and the 5-year fixed rate (the most popular repricing period among Filipino homeowners).
| Loan Amount | BPI @ 6.50% | Security Bank @ 6.75% | Monthly Savings with BPI |
|---|---|---|---|
| 2,000,000 | 14,921 | 15,189 | 268 |
| 3,500,000 | 26,112 | 26,580 | 468 |
| 5,000,000 | 37,303 | 37,972 | 669 |
| 7,500,000 | 55,954 | 56,958 | 1,004 |
| 10,000,000 | 74,605 | 75,944 | 1,339 |
On a 5,000,000 loan, choosing BPI over Security Bank saves you approximately 669 per month — or about 8,028 per year over the fixed period. Over 5 years, that's roughly 40,140 in total savings before repricing.
If you're currently paying 8% or higher with another bank, both BPI and Security Bank represent a significant improvement. Learn more about how BPI and Security Bank compare on refinance terms to understand the full picture beyond just the headline rate.
Approval Speed: Security Bank's Clear Advantage
Rate isn't everything. If you're refinancing to take advantage of a lower rate, or buying a property with a tight completion deadline, the time it takes your bank to approve your loan matters enormously.
| BPI Family Savings Bank | Security Bank | |
|---|---|---|
| Typical Approval Time | 52 days | 23 days |
Security Bank's 23-day approval is more than twice as fast as BPI's 52 days. For borrowers refinancing to escape a high rate that's about to reprice, or purchasing a resale property with a seller who has a firm deadline, Security Bank's processing speed could be the deciding factor — even at a slightly higher rate.
Eligibility Requirements: Who Qualifies?
Both banks are accessible to a wide range of borrowers, but there are key differences in their minimum income requirements.
| Requirement | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Minimum Monthly Income | 40,000 | 50,000 |
| Maximum DTI Ratio | 40% | 40% |
| Private Employed | ✓ | ✓ |
| Government Employed | ✓ | ✓ |
| BPO | ✓ | ✓ |
| OFW / Seafarer | ✓ | ✓ |
| Self-Employed | ✓ | ✓ |
| Professional | ✓ | ✓ |
| Freelancer | ✗ | ✓ |
BPI's lower minimum income threshold of 40,000 per month makes it more accessible for middle-income earners. Security Bank, however, is one of the few banks that explicitly accepts freelancers — a significant advantage for the growing number of Filipinos earning income through project-based or platform-based work.
Loan Purposes: What Can You Use the Loan For?
Both banks support an identical range of loan purposes, making them equally versatile for most borrowers.
| Loan Purpose | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Refinancing | ✓ | ✓ |
| Home Equity / Cash Out | ✓ | ✓ |
| Ready For Occupancy (RFO) | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ |
| New Construction | ✓ | ✓ |
| Reselling | ✓ | ✓ |
| Renovation | ✓ | ✓ |
| Foreclosed Property | ✓ | ✓ |
For homeowners looking to tap their property's equity, note that BPI's Home Equity rate of 6.70% is significantly lower than Security Bank's 7.50%. If a Home Equity loan is your primary goal, BPI is the clear winner on pricing. You can explore this further in our detailed guide on BPI vs Security Bank housing loan refinance rates.
Head-to-Head Summary
| Factor | BPI Family Savings Bank | Security Bank | Winner |
|---|---|---|---|
| 1-Year Fixed Rate | 6.70% | 6.99% | BPI |
| 5-Year Fixed Rate | 6.50% | 6.75% | BPI |
| Home Equity Rate | 6.70% | 7.50% | BPI |
| Approval Speed | 52 days | 23 days | Security Bank |
| Min Monthly Income | 40,000 | 50,000 | BPI |
| Accepts Freelancers | No | Yes | Security Bank |
| Broker Fee via Nook | Free | Free | Tie |
BPI wins on rate across all three fixed periods and has a lower income requirement, making it the better value choice for most borrowers who can afford to wait. Security Bank wins on speed and flexibility for freelancers. If you're a freelancer who needs a fast decision, Security Bank is likely your best path. For everyone else, BPI's lower rates will save you more money over the life of your loan.
Want to see how both stack up against a third option? Check out the BPI vs Metrobank vs Security Bank three-way comparison for a broader market view.
Why Apply Through Nook Instead of Going Direct?
Whether you choose BPI, Security Bank, or both, applying through Nook costs you nothing — Nook is 100% free to borrowers. Here's what you get that you won't get by walking into a branch:
- Side-by-side offers: Nook submits your application to multiple partner banks simultaneously, so you receive real, comparable offers — not just one bank's pitch.
- Expert guidance: Nook's advisors help you prepare your documents correctly the first time, reducing delays and the risk of rejection.
- Best available rate: The lowest refinance rate currently available through Nook is 5.99% p.a. — lower than either bank's published rate. Your actual offer depends on your profile, but Nook works to find you the best match.
- No pressure: You receive offers and decide. There's no obligation to proceed.
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
Which is better for home loan refinancing in 2026 — BPI or Security Bank?
For most borrowers, BPI Family Savings Bank offers better value on refinancing due to its lower 5-year fixed rate of 6.50% versus Security Bank's 6.75%. However, Security Bank's much faster approval time of 23 days (versus BPI's 52 days) makes it the stronger choice if you need your refinancing completed quickly. If speed is not a constraint, BPI's rate will save you more money over time.
What are BPI's current home loan interest rates?
BPI Family Savings Bank's current rates as available through Nook are: 1-Year Fixed at 6.70% p.a., 5-Year Fixed at 6.50% p.a., and Home Equity loans at 6.70% p.a. These rates are subject to change — always confirm the current rate with your Nook advisor before submitting your application.
What are Security Bank's current home loan interest rates?
Security Bank's current rates as available through Nook are: 1-Year Fixed at 6.99% p.a., 5-Year Fixed at 6.75% p.a., and Home Equity loans at 7.50% p.a. Rates are subject to change, so verify the latest figures with a Nook advisor.
How much can I save per month by refinancing with BPI instead of Security Bank?
On a 5,000,000 peso loan with a 20-year term, BPI's 5-year fixed rate of 6.50% results in a monthly payment of approximately 37,303, compared to 37,972 with Security Bank at 6.75% — a difference of 669 per month. On a 3,500,000 loan, the monthly saving is approximately 468. The larger your loan, the more significant the monthly and total savings over the fixed period.
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, while Security Bank requires a minimum of 50,000 per month. Both banks apply a maximum debt-to-income (DTI) ratio of 40%, meaning your total monthly loan obligations — including the new home loan — should not exceed 40% of your gross monthly income.
Does Security Bank accept freelancers for home loans?
Yes. Security Bank explicitly accepts freelancers as eligible borrowers, making it one of the more flexible options in the Philippine market for non-traditionally employed applicants. BPI Family Savings Bank does not list freelancers as an accepted employment type, though self-employed and professional borrowers are welcome at both banks.
How long does it take to get approved for a home loan at BPI versus Security Bank?
Security Bank's typical approval timeline is approximately 23 days, which is significantly faster than BPI Family Savings Bank's typical timeline of 52 days. If you are refinancing with a rate lock deadline or purchasing a resale property with a time-sensitive seller, Security Bank's faster processing could be a decisive advantage.
Is it free to apply for a home loan through Nook?
Yes, Nook's service is completely free to borrowers. Nook is compensated by the banks when a loan is successfully disbursed, not by the borrower. You can apply to both BPI and Security Bank simultaneously through Nook, compare actual offers, and choose the best one — all at no cost to you.
Can I apply to both BPI and Security Bank at the same time through Nook?
Yes, and this is actually the recommended approach. Nook can submit your application to multiple partner banks simultaneously, allowing you to receive competing offers and choose the best rate and terms for your situation. There is no additional cost for applying to more than one bank through Nook.
What is the lowest home loan refinance rate available in the Philippines right now?
The lowest refinance rate currently available through Nook is 5.99% p.a. This is lower than the published rates of both BPI and Security Bank, though the rate you are offered will depend on your individual borrower profile, loan amount, and the bank's assessment. A Nook advisor can help you understand which bank is most likely to offer you the most competitive rate based on your specific situation.