BPI vs Security Bank Housing Loan: Rate Comparison 2026
Both BPI Family Savings Bank and Security Bank are Nook partner banks, meaning you can apply to either — or both — through Nook's free broker service and let our team handle the paperwork. Below is a direct comparison of their current housing loan rates.
| 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. |
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: How Much Could You Save?
To illustrate the real-world impact of these rate differences, here's a side-by-side monthly payment estimate for a 3,000,000 peso home loan over 20 years using the 5-year fixed rate for each bank.
| Scenario | BPI Family Savings Bank (6.50%) | Security Bank (6.75%) |
|---|---|---|
| Loan Amount | 3,000,000 | 3,000,000 |
| Loan Term | 20 years | 20 years |
| Monthly Payment (est.) | 22,383 | 22,757 |
| Total Interest Paid (est.) | 2,371,920 | 2,461,680 |
| Estimated Savings with BPI | ~89,760 over loan term | |
On a larger loan of 5,000,000 pesos, that difference scales up significantly. If you're currently paying 8% or higher with another lender, refinancing to either bank through Nook could save you hundreds of thousands of pesos — and Nook's service is completely free to borrowers.
Eligibility & Requirements Compared
| Requirement | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Minimum Monthly Income | 40,000 | 50,000 |
| Maximum Debt-to-Income Ratio | 40% | 40% |
| Typical Approval Time | 52 days | 23 days |
| Private Employed | ✓ | ✓ |
| Government Employed | ✓ | ✓ |
| BPO Workers | ✓ | ✓ |
| OFW / Seafarer | ✓ | ✓ |
| Self-Employed | ✓ | ✓ |
| Professional | ✓ | ✓ |
| Freelancer | ✗ | ✓ |
One notable difference: Security Bank accepts freelancers, while BPI Family Savings Bank does not list this employment category. If you're a freelancer or independent contractor, Security Bank may be your best path to a competitive housing loan rate. For a deeper look at how these two banks compare specifically for refinancing, see our guide on BPI vs Security Bank housing loan rates for refinancing.
Loan Purposes Supported
| Loan Purpose | BPI Family Savings Bank | Security Bank |
|---|---|---|
| Refinancing | ✓ | ✓ |
| Ready For Occupancy (RFO) | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ |
| New Construction | ✓ | ✓ |
| Home Equity / Reimbursement | ✓ | ✓ |
| Renovation | ✓ | ✓ |
| Reselling / Assume Balance | ✓ | ✓ |
| Foreclosed Properties | ✓ | ✓ |
Both banks cover the full spectrum of housing loan purposes, so neither has an advantage here. Whether you're buying a brand-new condo, refinancing an existing home loan, or tapping your home equity, both banks can accommodate your needs.
Which Bank Is Right for You?
- Choose BPI Family Savings Bank if: You want the lowest available interest rate, your monthly income is between 40,000 and 50,000, you're not in a rush and can wait up to 52 days for approval, or you want the lowest home equity rate at 6.70%.
- Choose Security Bank if: You need fast approval (as quick as 23 days), you are a freelancer or non-traditional worker, your income comfortably exceeds 50,000 per month, or you've been turned down by other lenders and want a bank known for flexible underwriting.
- Apply through Nook if: You want to compare both banks side-by-side, let a licensed broker handle your documents for free, and get matched to the bank most likely to approve your application at the best rate — without paying a single peso in broker fees.
You can also explore how these two banks stack up in a three-way matchup in our BPI vs Metrobank vs Security Bank home loan rates comparison if you want to see how a third major lender compares.
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Compare My Options →Frequently Asked Questions
Which has a lower housing loan rate in 2026 — BPI or Security Bank?
BPI Family Savings Bank currently offers lower rates than Security Bank across all fixed-rate periods. BPI's 1-year fixed rate is 6.70% versus Security Bank's 6.99%, and BPI's 5-year fixed rate is 6.50% versus Security Bank's 6.75%. For home equity loans, BPI is also lower at 6.70% compared to Security Bank's 7.50%. Note that rates are subject to change — always verify current rates through Nook or directly with the bank before applying.
Which bank approves housing loans faster — BPI or Security Bank?
Security Bank approves housing loans significantly faster, with a typical turnaround of around 23 days. BPI Family Savings Bank typically takes around 52 days. If you need to close quickly — for example, to meet a developer's deadline or finalize a purchase — Security Bank has a meaningful advantage in processing speed.
What is the minimum income requirement for BPI vs Security Bank housing 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. This makes BPI the more accessible option for borrowers with moderate incomes. Both banks apply a maximum debt-to-income (DTI) ratio of 40%, meaning your total monthly loan obligations — including the new housing loan — should not exceed 40% of your gross monthly income.
Can freelancers apply for a housing loan with BPI or Security Bank?
Security Bank accepts freelancers as eligible borrowers for housing loans, while BPI Family Savings Bank does not list freelancers among its accepted employment types. If you earn income as a freelancer or independent contractor, Security Bank is the stronger option of the two. Both banks do accept self-employed individuals and professionals, so if your work falls into those categories, either bank may work for you.
Is it worth refinancing from BPI to Security Bank, or vice versa?
It depends on your current rate and circumstances. If you're currently paying 8% or more on a home loan with any bank, refinancing to either BPI or Security Bank through Nook could result in significant monthly savings. In most cases, BPI's lower rates make it the better refinancing destination if you can meet the income requirement and don't need a fast turnaround. However, if you're a freelancer or need approval in under a month, Security Bank may be the better fit. Nook can help you compare both options for free.
How much can I save by refinancing through Nook to BPI or Security Bank?
The savings depend on your current rate, loan balance, and remaining term. As an example: on a 3,000,000 peso loan over 20 years, refinancing from 8% to BPI's 5-year fixed rate of 6.50% could reduce your monthly payment by approximately 2,600 pesos and save you over 620,000 pesos in total interest over the life of the loan. Nook's service is 100% free to borrowers — there are no broker fees, no hidden charges, and no obligation to proceed after getting your comparison.
What types of home loans do both BPI and Security Bank offer?
Both BPI Family Savings Bank and Security Bank offer housing loans for a wide range of purposes including refinancing, purchasing ready-for-occupancy (RFO) or pre-selling properties, new construction, home equity or cash-out loans, renovation financing, resale property purchases, and foreclosed asset acquisitions. Their loan product coverage is nearly identical, so the deciding factor between the two typically comes down to rate, income eligibility, and how quickly you need approval.