CTBC Bank Philippines vs Security Bank: Home Loan Rate Comparison
Choosing between CTBC Bank Philippines and Security Bank for your home loan or refinance comes down to more than just interest rates. Below, we compare both banks across the factors that matter most: rates, eligibility, loan purposes, and approval speed.
Note: Interest rates are subject to change. Always verify current rates directly with the bank or through a licensed broker like Nook before making a decision.
Interest Rates at a Glance
| Rate Type | CTBC Bank Philippines | Security Bank |
|---|---|---|
| 1-Year Fixed | Not publicly listed | 6.99% p.a. |
| 5-Year Fixed | Not publicly listed | 6.75% p.a. |
| Home Equity / Flexi | Varies by application | 7.50% p.a. |
CTBC Bank Philippines does not publicly publish its home loan rate schedule in the same way Security Bank does. Borrowers typically need to apply or inquire directly to receive a rate quote. Security Bank, by contrast, offers clear published rates — a major advantage for borrowers who want to compare options before committing. Through Nook, you can apply to Security Bank at no cost and get a rate quote quickly.
How Much Could You Save by Refinancing to Security Bank?
If you're currently paying a higher rate on your home loan, refinancing to Security Bank's 5-year fixed rate of 6.75% p.a. could mean significant monthly savings. Here are some indicative examples based on a 20-year loan term:
| Loan Amount | At 8.50% p.a. | At 6.75% p.a. (Security Bank) | Monthly Savings |
|---|---|---|---|
| 2,000,000 | ~17,390/mo | ~15,220/mo | ~2,170/mo |
| 4,000,000 | ~34,780/mo | ~30,440/mo | ~4,340/mo |
| 6,000,000 | ~52,170/mo | ~45,660/mo | ~6,510/mo |
These figures are estimates for illustration purposes only. Actual savings will depend on your outstanding balance, remaining term, and the rate you qualify for. Use Nook's free mortgage calculator to get a personalised estimate.
Borrower Eligibility Comparison
| Criteria | CTBC Bank Philippines | Security Bank |
|---|---|---|
| Minimum Monthly Income | Not publicly disclosed | 50,000 |
| Employment Types Accepted | Primarily employed and select professionals | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer |
| Max Debt-to-Income Ratio | Not publicly disclosed | 40% |
| Typical Approval Time | Varies; not publicly stated | ~23 days |
Security Bank stands out for its broad acceptance of employment types — including OFWs, freelancers, and BPO workers — making it one of the more inclusive lenders in the Philippine market. CTBC Bank Philippines tends to serve a more targeted borrower profile, and eligibility details are not consistently published, which can make it difficult for borrowers to self-assess before applying.
If you're an OFW or freelancer exploring your options, you may also want to read our Asia United Bank vs Security Bank comparison to see how another mid-sized lender stacks up.
Loan Purposes Supported
| Loan Purpose | CTBC Bank Philippines | Security Bank |
|---|---|---|
| Refinancing | Available | ✓ Yes |
| Ready For Occupancy (RFO) | Available | ✓ Yes |
| Pre-Selling | Limited | ✓ Yes |
| Home Equity / Cash-Out | Select cases | ✓ Yes (7.50% p.a.) |
| New Construction | Available | ✓ Yes |
| Renovation | Not commonly offered | ✓ Yes |
| Foreclosed Properties | Not commonly offered | ✓ Yes |
| Reselling | Available | ✓ Yes |
Security Bank's breadth of supported loan purposes is one of its strongest selling points. Whether you're refinancing an existing loan, tapping home equity, or purchasing a pre-selling condo, Security Bank has a product for it. CTBC Bank Philippines is more limited in scope, particularly for renovation and foreclosed property loans.
Applying Through Nook: Why It Matters
Nook is the Philippines' first digital mortgage broker — and our service is 100% free to borrowers. When you apply for a Security Bank home loan through Nook, you get:
- A dedicated mortgage advisor who manages your application end-to-end
- Access to Security Bank's competitive published rates (currently as low as 6.75% p.a. for 5-year fixed)
- Faster processing because Nook handles document preparation and bank coordination
- No broker fees — Nook is paid by the bank, not by you
CTBC Bank Philippines is not currently a Nook partner bank, which means borrowers must apply directly and navigate the process without broker support. For homeowners who want a streamlined, guided refinance experience, applying through Nook to Security Bank is the more practical path.
Curious how Security Bank compares against other lenders? Check out our Landbank vs Security Bank comparison for another popular alternative.
Summary: CTBC Bank Philippines vs Security Bank
| Factor | CTBC Bank Philippines | Security Bank |
|---|---|---|
| Rate Transparency | Low — rates not publicly listed | High — rates clearly published |
| Lowest Available Rate | Not disclosed | 6.75% p.a. (5-year fixed) |
| Borrower Inclusivity | Moderate | High — accepts OFWs, freelancers, BPO |
| Loan Purpose Flexibility | Moderate | Very High |
| Approval Speed | Not stated | ~23 days |
| Free Broker Support via Nook | Not available | ✓ Available |
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
What is CTBC Bank Philippines' current home loan interest rate?
CTBC Bank Philippines does not publicly publish its home loan interest rates. Borrowers need to apply or inquire directly with the bank to receive a rate quote. This lack of transparency makes it difficult to compare against other lenders without going through the application process first.
What is Security Bank's home loan interest rate in 2024?
Security Bank currently offers a 1-year fixed rate of 6.99% p.a. and a 5-year fixed rate of 6.75% p.a. for home loans, including refinancing. Home equity loans are available at 7.50% p.a. Note that rates are subject to change — always confirm current rates with Security Bank or through Nook before applying.
Can I refinance my CTBC Bank Philippines home loan to Security Bank?
Yes. If you currently have a home loan with CTBC Bank Philippines and are looking for a lower rate, you can refinance to Security Bank through Nook. The process is free of charge to you as the borrower. Nook will handle the paperwork, bank coordination, and processing to make your refinance as smooth as possible.
How long does Security Bank take to approve a home loan?
Security Bank typically approves home loan applications within approximately 23 days. When you apply through Nook, your dedicated advisor helps ensure your documents are complete and correctly submitted, which can help avoid unnecessary delays.
What is the minimum income requirement for a Security Bank home loan?
Security Bank requires a minimum monthly income of 50,000. This applies across most employment types, including private employees, government workers, OFWs, self-employed individuals, freelancers, BPO workers, and professionals.
Does Security Bank accept OFW and freelancer borrowers?
Yes. Security Bank is one of the more inclusive lenders in the Philippines, accepting a wide range of employment types including OFWs, seafarers, freelancers, BPO employees, self-employed professionals, and government workers. This makes it a strong option for borrowers who may struggle to qualify at more restrictive banks.
Is Nook's service really free for borrowers?
Yes. Nook's mortgage brokering service is 100% free to borrowers. Nook is compensated by the bank when a loan is successfully funded, not by you. You get full broker support — rate comparisons, document assistance, and application management — at no cost.
What home loan purposes does Security Bank support?
Security Bank supports a broad range of home loan purposes, including refinancing, ready-for-occupancy (RFO) purchases, pre-selling properties, new construction, home equity/cash-out, renovation, reselling, and foreclosed properties. This makes it one of the most versatile home loan lenders available through Nook.