BPI vs Security Bank Home Loan: Rate Comparison (2026)
For new homebuyers in the Philippines, the interest rate you lock in can mean hundreds of thousands of pesos in savings — or costs — over a 20-year loan. Here's how BPI Family Savings Bank and Security Bank stack up on the rates that matter most.
| Rate Type | BPI Family Savings Bank | Security Bank |
|---|---|---|
| 1-Year Fixed Rate | 6.70% p.a. | 6.99% p.a. |
| 5-Year Fixed Rate | 6.50% p.a. | 6.75% p.a. |
| Home Equity Rate | 6.70% p.a. | 7.50% p.a. |
BPI Family Savings Bank is cheaper across every fixing period. On a 5-year fixed rate, BPI's 6.50% beats Security Bank's 6.75% by 0.25 percentage points. That gap may sound small, but on a 5,000,000 peso loan over 20 years, choosing BPI's 5-year fixed rate over Security Bank's could save you approximately 75,000 to 100,000 pesos over the fixed period alone — before repricing.
Note: Interest rates are subject to change. Always verify current rates directly with the bank or through Nook before making a decision.
Monthly Payment Comparison: 5,000,000 Peso Loan
Let's make the numbers real. Here's what your estimated monthly payment looks like on a 5,000,000 peso home loan over a 20-year term under each bank's 5-year fixed rate:
| Scenario | BPI (6.50% fixed) | Security Bank (6.75% fixed) |
|---|---|---|
| Loan Amount | 5,000,000 | 5,000,000 |
| Loan Term | 20 years | 20 years |
| Fixed Period | 5 years | 5 years |
| Est. Monthly Payment | 37,288 | 38,059 |
| Total Paid Over 5 Years | 2,237,280 | 2,283,540 |
| Difference | Security Bank costs ~46,260 more over 5 years | |
For a 3,000,000 peso loan on the same terms, BPI's monthly payment would be approximately 22,373 versus Security Bank's 22,835 — a monthly difference of 462 pesos that compounds significantly over time.
If you're currently paying 8% or more on an existing loan, both banks offer meaningful savings through refinancing. You can explore how refinancing with either bank compares in our detailed guide on BPI vs Security Bank housing loan refinance rates.
Eligibility & Income Requirements
Both banks welcome a wide range of borrowers, but Security Bank sets a higher income floor. Here's what first-time buyers need to qualify:
| Requirement | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Minimum Monthly Income | 40,000 | 50,000 |
| Maximum DTI Ratio | 40% | 40% |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer |
BPI's lower minimum income threshold of 40,000 pesos per month makes it more accessible for first-time buyers who are earlier in their careers or earning at the lower end of the qualifying range. Security Bank requires at least 50,000 pesos monthly — a meaningful difference for many Filipino households.
Notably, Security Bank explicitly accepts freelancers as a borrower category, which BPI does not list separately. If you're a freelancer with verifiable income, Security Bank may be your stronger option on the eligibility side.
Both banks cap the debt-to-income (DTI) ratio at 40%, meaning your total monthly debt obligations — including the new home loan payment — cannot exceed 40% of your gross monthly income.
Loan Purposes Supported
Both BPI Family Savings Bank and Security Bank support the same broad range of home loan purposes, making them versatile for first-time buyers with different property situations:
| Loan Purpose | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Ready For Occupancy (RFO) | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ |
| New Construction | ✓ | ✓ |
| Refinancing | ✓ | ✓ |
| Home Equity | ✓ | ✓ |
| Renovation | ✓ | ✓ |
| Reselling | ✓ | ✓ |
| Foreclosed Properties | ✓ | ✓ |
Whether you're buying a pre-selling condo, an RFO townhouse, or a resale property, both banks cover the full spectrum. This parity means your choice between the two should come down to rate, income eligibility, and how fast you need approval.
Approval Speed: A Major Differentiator
For first-time buyers racing to secure a property — especially in competitive markets or with a developer's reservation deadline — approval speed can be just as important as the interest rate.
| Factor | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Typical Approval Time | 52 days | 23 days |
Security Bank's 23-day typical approval is remarkably fast for a Philippine bank loan — nearly half the time it takes BPI. If you've already committed to a property and the developer is waiting on your financing commitment, this speed advantage could be decisive.
On the other hand, if you're still in the early stages of your property search and have time on your side, BPI's lower rates are worth the longer wait.
Why Apply Through Nook Instead of Going Directly?
Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers. Here's why applying through Nook makes sense when comparing BPI and Security Bank:
- Apply to both banks at the same time — Nook submits your application to multiple partner banks simultaneously, so you get competing offers and can choose the best one.
- No broker fees, ever — Nook's service is 100% free to you. Banks pay us, not you.
- Expert guidance — Nook's advisors help you understand which bank is more likely to approve your profile and at what rate before you apply.
- Streamlined paperwork — Submit your documents once through Nook instead of separately to each bank.
If you're also evaluating other lenders, our comparison of BPI vs Metrobank vs Security Bank home loan rates for 2026 covers how a third major competitor stacks up against both banks on this page.
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Compare My Options →Frequently Asked Questions
Which has lower interest rates — BPI or Security Bank for a home loan in 2026?
BPI Family Savings Bank currently offers lower rates across all fixing periods. BPI's 1-year fixed rate is 6.70% p.a. versus Security Bank's 6.99% p.a., and BPI's 5-year fixed rate is 6.50% p.a. versus Security Bank's 6.75% p.a. For most first-time buyers focused on minimizing monthly payments, BPI is the cheaper option. Note that rates are subject to change, so always confirm current rates through Nook or directly with the bank.
Which bank approves home loans faster — BPI or Security Bank?
Security Bank is significantly faster, with a typical approval time of just 23 days compared to BPI's 52 days. If you're working against a developer's deadline or need to close quickly on a property, Security Bank's processing speed is a major advantage — even if its rates are slightly higher.
What is the minimum income required for a BPI home loan vs a Security Bank home loan?
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%. BPI's lower income threshold makes it more accessible for first-time buyers who are earlier in their careers.
Can OFWs and self-employed borrowers apply for a home loan at both BPI and Security Bank?
Yes. Both BPI Family Savings Bank and Security Bank accept OFWs, seafarers, self-employed individuals, and professionals as borrowers. Security Bank also explicitly lists freelancers as an accepted employment type, which BPI does not separately specify. If you're a freelancer with documented income, Security Bank may be the more straightforward option.
Can I apply to BPI and Security Bank at the same time?
Yes — and Nook makes this easy. Through Nook's free mortgage broker service, you can submit one application and have it sent to multiple partner banks simultaneously, including both BPI Family Savings Bank and Security Bank. This lets you compare actual loan offers side by side without paying any broker fees.
Which bank is better for first-time homebuyers — BPI or Security Bank?
It depends on your priorities. If you want the lowest possible rate and have time to wait for approval, BPI Family Savings Bank is the better choice with its 6.50% 5-year fixed rate and lower income requirement of 40,000 pesos per month. If you need fast approval or you're a freelancer, Security Bank's 23-day processing time and broader employment type acceptance make it very competitive. Applying through Nook lets you get offers from both and decide based on real numbers.
Does BPI or Security Bank offer better home equity loan rates?
BPI Family Savings Bank offers a significantly lower home equity rate at 6.70% p.a. compared to Security Bank's 7.50% p.a. — a difference of 0.80 percentage points. For homeowners looking to tap into their property's equity, BPI is the more cost-effective option. You can also explore how these compare on refinancing terms in our guide on BPI vs Security Bank home loan rates.
Is Nook's mortgage broker service really free for borrowers?
Yes, completely free. Nook is compensated by the banks, not by you. You pay zero broker fees and get access to multiple bank offers, expert advice, and streamlined document submission — all at no cost to you as the borrower.