BPI vs Security Bank Housing Loan: Rate Comparison (2026)
Both BPI Family Savings Bank and Security Bank are Nook partner banks, which means you can apply to either — or both — through Nook's free service. Below is a side-by-side look at their current housing loan rates.
| Rate Type | 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. |
Note: Interest rates are subject to change. Always verify current rates with the bank or through Nook before making a decision.
On every product type, BPI Family Savings Bank currently offers the lower rate. The gap is most significant on Home Equity loans — BPI at 6.70% vs Security Bank at 7.50% — an 0.80 percentage point difference that compounds significantly over a long loan term.
How Much Could You Save by Refinancing?
To put the rate difference in concrete terms, let's look at a sample scenario. Suppose you have an outstanding home loan balance of 4,000,000 pesos with 20 years remaining, and you're currently paying 8.50% p.a. — a common rate for loans originated 3–5 years ago.
| Scenario | Monthly Payment (est.) | Total Interest Over 20 Years (est.) |
|---|---|---|
| Current Rate: 8.50% | 34,729 | 4,334,960 |
| Refinance to BPI 5-Year Fixed: 6.50% | 29,877 | 3,170,480 |
| Refinance to Security Bank 5-Year Fixed: 6.75% | 30,344 | 3,282,560 |
Refinancing to BPI's 5-year fixed rate could save you approximately 4,852 pesos per month compared to staying at 8.50%. Over the life of the loan, that's over 1,160,000 pesos in interest savings versus your current rate — and about 112,000 pesos more in savings compared to the Security Bank option.
Want to see what your specific savings could look like? Explore BPI vs Security Bank refinancing rates in more detail or get a free personalized comparison through Nook.
Approval Speed and Processing Time
One of Security Bank's clearest advantages is its approval speed. With a typical approval time of just 23 days, Security Bank is one of the fastest-processing banks in Nook's panel. BPI Family Savings Bank's typical approval runs closer to 52 days — more than double.
| Factor | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Typical Approval Time | 52 days | 23 days |
| Min. Monthly Income | 40,000 | 50,000 |
| Max Debt-to-Income Ratio | 40% | 40% |
If you're in a time-sensitive situation — for example, purchasing a Ready For Occupancy (RFO) unit with a seller deadline — Security Bank's speed may outweigh BPI's rate advantage. On the other hand, if you're refinancing or have flexibility on timing, the rate savings with BPI are likely worth the longer wait.
BPI also has a lower minimum monthly income requirement of 40,000 pesos compared to Security Bank's 50,000 pesos, which makes BPI more accessible to a broader range of borrowers.
Eligible Loan Purposes
Both banks cover a wide range of loan purposes, making them versatile options whether you're buying, building, or refinancing.
| Loan Purpose | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Refinancing | ✓ | ✓ |
| Ready For Occupancy (RFO) | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ |
| New Construction | ✓ | ✓ |
| Home Equity / Cash-Out | ✓ | ✓ |
| Renovation | ✓ | ✓ |
| Reselling | ✓ | ✓ |
| Foreclosed Properties | ✓ | ✓ |
| Freelancer Accepted | — | ✓ |
Both banks are well-matched on loan purposes. One notable difference: Security Bank explicitly accepts freelancers as an employment type, while BPI's eligible employment types cover Private, Government, BPO, OFW/Seafarer, Self-Employed, and Professionals. If you're a freelancer, Security Bank may be the more straightforward path.
Employment Types Accepted
| Employment Type | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Locally Employed (Private) | ✓ | ✓ |
| Government Employee | ✓ | ✓ |
| BPO Employee | ✓ | ✓ |
| OFW / Seafarer | ✓ | ✓ |
| Self-Employed | ✓ | ✓ |
| Professional (Doctor, Lawyer, etc.) | ✓ | ✓ |
| Freelancer | — | ✓ |
Which Bank Is Right for You?
Here's a quick decision guide based on your situation:
- Choose BPI Family Savings Bank if: You want the lowest available rate (especially 5-year fixed at 6.50%), your monthly income is between 40,000–50,000 pesos, or you're not in a rush and can wait up to 52 days for approval.
- Choose Security Bank if: You need fast approval (23 days), you're a freelancer, or your monthly income is above 50,000 pesos and you value Security Bank's track record for service.
- Apply to both through Nook if: You want to maximize your options, compare actual loan offers side-by-side, and let the banks compete for your business — all at zero cost to you.
For a deeper dive into refinancing specifically, see our detailed comparison of BPI vs Security Bank home loan rates for refinancing.
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Compare My Options →Frequently Asked Questions
Which has the lower housing loan rate in 2026 — BPI or Security Bank?
Based on current verified rates, BPI Family Savings Bank offers the lower rates across all fixed-rate terms. BPI's 5-year fixed rate is 6.50% p.a. compared to Security Bank's 6.75% p.a. For 1-year fixed, BPI is at 6.70% versus Security Bank's 6.99%. Note that rates are subject to change — confirm the latest rates through Nook or directly with the bank.
How much faster is Security Bank's loan approval compared to BPI?
Security Bank's typical approval time is 23 days, while BPI Family Savings Bank typically takes around 52 days. That's roughly a 29-day difference. If you're buying a property with a tight seller deadline, Security Bank's speed can be a decisive factor.
Can I apply to both BPI and Security Bank at the same time?
Yes — and this is exactly what Nook recommends. Applying to multiple banks does not hurt your credit standing in the Philippines, and it allows you to compare actual loan offers before committing. Nook's service is 100% free to borrowers and handles submissions to both banks on your behalf.
What is the minimum monthly income required for a BPI vs Security Bank housing loan?
BPI Family Savings Bank requires a minimum monthly income of 40,000 pesos. Security Bank requires a minimum of 50,000 pesos per month. If your income is between 40,000 and 50,000 pesos, BPI may be your only option between these two banks.
Does Security Bank accept freelancers for housing loans?
Yes. Security Bank explicitly accepts freelancers as an eligible employment type for housing loan applications. BPI Family Savings Bank's accepted employment types include private employees, government workers, BPO employees, OFWs, self-employed individuals, and professionals, but freelancers are not listed as a distinct category. If you are a freelancer, Security Bank may be the more suitable choice.
How much can I save by refinancing from 8.50% to BPI's 6.50% rate?
On a 4,000,000 peso loan with 20 years remaining, refinancing from 8.50% to BPI's 5-year fixed rate of 6.50% could reduce your monthly payment from approximately 34,729 pesos to 29,877 pesos — a saving of around 4,852 pesos per month. Over 20 years, this amounts to over 1,160,000 pesos in total interest savings. Your actual savings will depend on your outstanding balance, remaining term, and applicable fees.
Is Nook's mortgage brokering service really free?
Yes. Nook charges zero fees to the borrower. Nook earns a referral fee from the bank when a loan is successfully processed, so there is no cost to you for getting a comparison, submitting an application, or receiving guidance throughout the process.
Can OFWs apply for a housing loan through BPI or Security Bank via Nook?
Yes. Both BPI Family Savings Bank and Security Bank accept OFWs and seafarers as eligible borrowers. You can apply through Nook from abroad, and Nook's team can guide you through the documentation requirements specific to OFW applicants.