EastWest Bank vs Security Bank: Interest Rate Comparison (2026)
For salaried employees, the interest rate is usually the single biggest factor in choosing a home loan — and EastWest Bank holds a clear advantage here. Below are the current rates available through Nook for both banks:
| Fixed Period | EastWest Bank | Security Bank |
|---|---|---|
| 1-Year Fixed | 5.99% p.a. | 6.99% p.a. |
| 3-Year Fixed | 6.25% p.a. | 7.25% p.a. |
| 5-Year Fixed | 6.49% p.a. | 7.75% p.a. |
| 7-Year Fixed | 7.00% p.a. | N/A |
| Home Equity | 6.25% p.a. | 7.50% p.a. |
Rates are subject to change. Verify current rates with Nook or directly with the bank before applying.
Across every fixed-rate period, EastWest Bank offers a rate that is 1.00 to 1.26 percentage points lower than Security Bank. For salaried employees on a 20-year loan, this difference compounds significantly over time.
Monthly Payment Comparison: Real Numbers for Salaried Borrowers
To make this concrete, here are estimated monthly amortizations for a 3,000,000 home loan over 20 years at the 1-year fixed rates of each bank. (Calculations are illustrative; actual amortizations may vary.)
| Scenario | EastWest Bank (5.99%) | Security Bank (6.99%) |
|---|---|---|
| Loan: 3,000,000 / 20 yrs | ~21,468/mo | ~23,257/mo |
| Annual Payment | ~257,616 | ~279,084 |
| Estimated Savings vs Security Bank | ~21,468/yr | — |
On a 3,000,000 loan, choosing EastWest Bank over Security Bank saves a salaried borrower roughly 21,468 pesos per year during the initial fixed-rate period. Over a 5-year fixed term, that's more than 107,000 pesos in savings — money that could go toward your family, savings, or home improvements.
For a larger loan of 5,000,000 over 20 years, the annual savings widen further. This is why rate comparison matters so much, and why tools like Nook exist — to make sure you're not leaving money on the table.
Eligibility Requirements for Salaried Employees
Both banks welcome salaried employees, but there are meaningful differences in who qualifies and how easily.
| Requirement | EastWest Bank | Security Bank |
|---|---|---|
| Minimum Monthly Income | 40,000 | 50,000 |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer |
| Maximum Debt-to-Income Ratio | 40% | 40% |
| Typical Approval Time | ~19 days | ~23 days |
EastWest Bank's lower income threshold of 40,000 per month is a significant advantage for mid-level salaried workers — teachers, nurses, BPO agents, junior managers, and government employees who earn a stable income but may not yet reach Security Bank's 50,000 floor. Security Bank, on the other hand, explicitly accepts freelancers alongside the standard employment categories, which is a useful differentiator if you have a blended income arrangement.
Both banks cap the debt-to-income (DTI) ratio at 40%, meaning your total monthly loan obligations — including the new home loan — should not exceed 40% of your gross monthly income. For a borrower earning 60,000 per month, maximum allowable monthly obligations would be 24,000.
Loan Purposes Covered
Both EastWest Bank and Security Bank support a wide range of home loan purposes, so most salaried borrowers will find their needs covered by either bank.
| Loan Purpose | EastWest Bank | Security Bank |
|---|---|---|
| Refinancing | ✔ | ✔ |
| Ready for Occupancy (RFO) | ✔ | ✔ |
| Pre-Selling | ✔ | ✔ |
| New Construction | ✔ | ✔ |
| Reselling | ✔ | ✔ |
| Renovation | ✔ | ✔ |
| Home Equity / Realty | ✔ | ✔ |
| Foreclosed Property | ✔ | ✔ |
Both banks are highly versatile. Whether you're purchasing your first home from a developer, refinancing an existing loan to get a lower rate, or tapping your home equity for a major expense, you'll find either bank can accommodate you. If you're currently refinancing and want to understand how rates compare across both banks in more detail, our full Security Bank vs EastWest Bank housing loan comparison covers fees, prepayment terms, and a comprehensive verdict.
Processing Speed: Which Bank Approves Faster?
For salaried employees eager to close a deal — especially when competing for a property — approval speed matters. EastWest Bank's typical approval timeline of 19 days gives it a roughly 4-day edge over Security Bank's 23-day average. While this may seem minor, in competitive real estate situations, a faster conditional approval can be the difference between securing and losing a property.
When you apply through Nook, our mortgage specialists help you prepare a complete and accurate application package from day one — which reduces back-and-forth with the bank and often shortens processing times for both banks. Nook's service is completely free for borrowers.
Which Bank Is Better for Refinancing?
If you're a salaried employee currently paying 7% or higher on an existing home loan, refinancing through EastWest Bank at 5.99% p.a. could generate significant savings. Most Filipino homeowners are still on rates between 7% and 10% from loans taken out in previous years — rates that are now well above what's available in the market.
For example, a salaried borrower with a 4,000,000 outstanding loan balance currently paying 8.5% annually could reduce their monthly amortization substantially by refinancing to EastWest Bank's 5.99% rate. Security Bank's 6.99% rate also beats 8.5%, but the gap with EastWest is meaningful.
Both banks support refinancing as a loan purpose, and Nook can help you compare refinance offers side by side without any cost to you. If you're curious about how other borrowers have experienced these two banks in real life, check out real borrower experiences with EastWest and Security Bank gathered from Philippine online communities.
Summary: EastWest Bank vs Security Bank for Salaried Employees
| Factor | EastWest Bank | Security Bank |
|---|---|---|
| Best 1-Year Rate | 5.99% | 6.99% |
| Best 3-Year Rate | 6.25% | 7.25% |
| Best 5-Year Rate | 6.49% | 7.75% |
| Min. Monthly Income | 40,000 | 50,000 |
| Approval Speed | ~19 days | ~23 days |
| Accepts Freelancers | No | Yes |
| Home Equity Rate | 6.25% | 7.50% |
| Nook Partner Bank | ✔ | ✔ |
EastWest Bank leads in rates, income accessibility, and speed. Security Bank's advantage lies in its explicit acceptance of freelancers and its strong brand reputation. For the typical salaried employee in the Philippines, EastWest Bank is the stronger choice in 2026.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which bank has the lower home loan interest rate — EastWest or Security Bank?
EastWest Bank has consistently lower rates across all fixed-rate periods. Their 1-year fixed rate is 5.99% p.a., compared to Security Bank's 6.99% p.a. — a difference of exactly 1 percentage point. For longer fixed terms, the gap is even wider: 5-year fixed is 6.49% at EastWest versus 7.75% at Security Bank. Rates are subject to change, so always confirm current offers before applying.
What is the minimum monthly income to qualify for a home loan at EastWest Bank vs Security Bank?
EastWest Bank requires a minimum gross monthly income of 40,000, while Security Bank requires 50,000. This makes EastWest Bank more accessible to mid-level salaried employees such as government workers, teachers, nurses, and BPO staff who earn a stable but moderate income.
How long does it take for EastWest Bank and Security Bank to approve a home loan?
EastWest Bank typically approves home loan applications in around 19 days, while Security Bank averages about 23 days. Applying through Nook with a complete document package can help streamline processing at both banks. These timelines are estimates and may vary based on individual circumstances and document completeness.
Can salaried employees apply for a home loan at both EastWest Bank and Security Bank?
Yes, both banks welcome salaried employees from the private sector, government, and BPO industries, as well as OFWs and seafarers. Security Bank also explicitly accepts freelancers, which EastWest Bank does not list among its accepted employment types. Both banks cap the maximum debt-to-income ratio at 40%.
How much can I save by choosing EastWest Bank over Security Bank?
On a 3,000,000 home loan over 20 years, borrowing at EastWest Bank's 5.99% rate instead of Security Bank's 6.99% saves approximately 21,468 pesos per year in monthly amortization during the initial fixed-rate period. Over a 5-year fixed term, that's over 107,000 pesos in total savings. Larger loan amounts generate proportionally higher savings.
Can I refinance my existing home loan through EastWest Bank or Security Bank?
Yes, both EastWest Bank and Security Bank accept refinancing as a loan purpose. If you're currently paying 7% or more on an existing loan, refinancing to EastWest Bank's 5.99% rate can generate meaningful savings. Nook can help you calculate your exact savings and manage the refinancing application for free.
Is it free to apply through Nook for either of these banks?
Yes — Nook's mortgage brokering service is 100% free for borrowers. Nook is compensated by the banks, not the applicants. You get professional guidance, document support, and access to competitive rates from both EastWest Bank and Security Bank without paying any broker fees.
Does EastWest Bank or Security Bank offer home equity loans?
Both banks offer home equity loans. EastWest Bank's home equity rate is 6.25% p.a., while Security Bank's is 7.50% p.a. — a difference of 1.25 percentage points in favor of EastWest Bank. Home equity loans allow you to borrow against the value of a property you already own, and are useful for major expenses like business capital, tuition, or home renovation.