CIMB vs SB Finance: Home Loan Overview
CIMB Philippines is a digital-forward bank that entered the Philippine market with a strong retail banking play, while SB Finance (formerly Security Bank's consumer lending arm, now a joint venture with Thailand's MBK Group) specializes in consumer finance including home loans. Both compete for borrowers looking for alternatives to the big universal banks, but they come from very different operational models.
CIMB leans heavily on its digital infrastructure, while SB Finance combines digital convenience with a physical branch network and a consumer lending heritage. For homeowners considering refinancing, understanding these differences is key to choosing the right partner — or discovering that a broker like Nook can unlock even better options across multiple lenders at once.
Interest Rates Compared
| Feature | CIMB | SB Finance |
|---|---|---|
| Fixed Rate (1-year) | ~7.50% p.a. | ~7.25% p.a. |
| Fixed Rate (3-year) | ~8.00% p.a. | ~7.75% p.a. |
| Fixed Rate (5-year) | ~8.50% p.a. | ~8.25% p.a. |
| Best Available via Nook | 5.99% p.a. | |
SB Finance typically offers slightly lower fixed rates than CIMB across most repricing periods. However, both are considerably above the 5.99% p.a. that qualified borrowers can access through Nook's network of partner lenders. On a loan of 4,000,000 over 20 years, the difference between 7.50% and 5.99% represents a monthly saving of roughly 4,200 — or over 1,000,000 in total interest across the life of the loan.
If you're also weighing other digital lenders, our CIMB vs PBCOM home loan comparison gives useful context on how CIMB fares against another challenger bank.
Loan Terms and Eligibility
| Feature | CIMB | SB Finance |
|---|---|---|
| Minimum Loan Amount | 1,000,000 | 500,000 |
| Maximum Loan Amount | Up to 80% of property value | Up to 80% of appraised value |
| Loan Term | Up to 20 years | Up to 20 years |
| Eligible Borrower Age | 21–65 years old | 21–65 years old |
| Minimum Monthly Income | ~40,000 | ~30,000 |
SB Finance's lower minimum loan amount of 500,000 gives it an edge for borrowers with smaller financing needs or those refinancing a partially paid-down loan. CIMB's minimum of 1,000,000 is more restrictive. Both cap loan-to-value at 80%, which is standard in the Philippine market.
Fees and Charges
| Fee | CIMB | SB Finance |
|---|---|---|
| Processing Fee | ~10,000 (non-refundable) | ~10,000 (non-refundable) |
| Appraisal Fee | Borrower-shouldered | Borrower-shouldered |
| Early Redemption Fee | Typically 2–3% in fixed period | Typically 2–3% in fixed period |
| Documentary Stamp Tax | Borrower-shouldered | Borrower-shouldered |
| Mortgage Registration | Borrower-shouldered | Borrower-shouldered |
Fee structures are broadly similar between the two lenders. The key cost to watch for refinancers is the early redemption penalty on your existing loan — this can run to 2–3% of the outstanding balance and must be factored into your break-even calculation before switching. Nook's advisors can walk you through this math for free.
Application Process and Turnaround
CIMB positions itself as a digitally native bank, and its home loan application reflects this — borrowers can initiate the process online and upload documents digitally. However, physical verification and property appraisal still require in-person steps. Turnaround for approval is typically 10–15 banking days after complete document submission.
SB Finance operates through a combination of digital application channels and in-branch support. Its consumer lending heritage means loan officers are generally experienced with complex borrower profiles, which can be an advantage for the self-employed or those with non-standard income documentation. Approval timelines are similar, around 10–15 banking days.
For borrowers who want to compare SB Finance against another specialist lender, see our PSBank vs SB Finance comparison for a side-by-side on two consumer-focused institutions.
Who Should Choose CIMB?
- Borrowers comfortable with a fully digital experience who prefer minimal branch visits
- Salaried employees with clean, straightforward income documentation
- Borrowers seeking a loan of at least 1,000,000
- Those already banking with CIMB who value account integration
Who Should Choose SB Finance?
- Borrowers who want branch access and hands-on loan officer support
- Self-employed applicants or those with variable income who may need more flexibility in documentation
- Borrowers with smaller loan amounts (from 500,000)
- Those who prefer a lender with a dedicated consumer finance specialization
Why Not Compare Both — Plus Nook?
The smartest move for any refinancer is not to choose between CIMB and SB Finance alone, but to use Nook to compare these and other lenders simultaneously. Nook is the Philippines' first digital mortgage broker, and it's completely free to borrowers. By submitting one application, you get competitive offers from multiple banks — and access to rates as low as 5.99% p.a. that are not always available on a lender's public website.
On a 5,000,000 loan over 20 years, moving from 8.00% to 5.99% reduces your monthly payment from approximately 41,800 to 35,700 — a saving of around 6,100 per month, or 1,464,000 over the loan term.
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Compare My Options →Frequently Asked Questions
Which is better for home loans, CIMB or SB Finance?
SB Finance generally offers slightly more competitive rates and greater flexibility for borrowers with non-standard income, while CIMB suits digitally savvy salaried borrowers with straightforward profiles. However, the best deal for most refinancers is found by comparing both against the full market through Nook, where rates start at 5.99% p.a.
What interest rates does CIMB offer on home loans?
CIMB's home loan rates typically start around 7.50% p.a. for a 1-year fixed period and increase for longer fixing periods. Rates are subject to change and depend on borrower profile, loan amount, and LTV ratio. Nook can help you check current live rates against other lenders at no cost.
What interest rates does SB Finance offer on home loans?
SB Finance home loan rates typically start around 7.25% p.a. for a 1-year fixed period, making them marginally more competitive than CIMB. As with all Philippine home loans, rates are indicative and vary by borrower profile and prevailing market conditions.
Can I refinance my existing home loan with SB Finance or CIMB?
Yes, both CIMB and SB Finance accept refinancing applications. Before proceeding, calculate whether the savings from a lower rate outweigh the early redemption penalty on your existing loan (typically 2–3% of outstanding balance) and the transaction costs of the new loan. Nook's advisors can help you run these numbers for free.
How long does CIMB or SB Finance take to approve a home loan?
Both lenders typically take around 10–15 banking days to issue a credit decision after receiving complete documentation. Property appraisal and legal title verification can extend this timeline. Working with a mortgage broker like Nook can help ensure your documents are complete before submission, reducing back-and-forth delays.
Does Nook charge a fee to help me compare CIMB and SB Finance?
No. Nook's service is completely free to borrowers. Nook earns a referral fee from the bank you ultimately choose, not from you. You get professional mortgage advice and access to multiple lenders — including rates as low as 5.99% p.a. — at zero cost.
What documents do I need to apply for a home loan refinance with CIMB or SB Finance?
Standard requirements include a valid government-issued ID, proof of income (payslips, ITR, or audited financial statements for the self-employed), a copy of your existing loan statement of account, and property documents including the Transfer Certificate of Title (TCT) and tax declaration. Both lenders may have additional requirements depending on your profile.