Interest Rate Comparison 2026
EastWest Bank Rates
- 1-Year Fixed: 5.99% p.a.
- 3-Year Fixed: 6.25% p.a.
- 5-Year Fixed: 6.49% p.a.
- 7-Year Fixed: 7.00% p.a.
- Home Equity: 6.25% p.a.
Security Bank Rates
- 1-Year Fixed: 6.99% p.a.
- 5-Year Fixed: 6.75% p.a.
- Home Equity: 7.50% p.a.
Rate Advantage: EastWest Bank offers a full 1% lower starting rate, which can translate to significant savings. On a 5,000,000 loan over 20 years, this rate difference saves approximately 185,000 in interest payments.
Monthly Payment Comparison
| Loan Amount | Term | EastWest Bank (5.99%) | Security Bank (6.99%) | Monthly Savings |
|---|---|---|---|---|
| 3,000,000 | 20 years | 21,485 | 23,220 | 1,735 |
| 5,000,000 | 20 years | 35,809 | 38,700 | 2,891 |
| 8,000,000 | 25 years | 52,068 | 57,048 | 4,980 |
Monthly payments calculated using each bank's lowest advertised rate. Calculate your specific refinancing savings with our detailed calculator.
Eligibility Requirements
EastWest Bank Requirements
- Minimum Monthly Income: 40,000
- Maximum Debt-to-Income: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional
- Typical Approval Time: 19 days
Security Bank Requirements
- Minimum Monthly Income: 50,000
- Maximum Debt-to-Income: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer
- Typical Approval Time: 23 days
Accessibility Winner: EastWest Bank has a lower income threshold (40,000 vs 50,000), making it more accessible to middle-income borrowers. However, Security Bank accepts freelancers, which EastWest Bank currently does not.
Loan Purpose Flexibility
Both banks offer identical loan purpose flexibility through Nook's platform:
- Refinancing existing home loans
- Home equity loans
- New construction financing
- Pre-selling and RFO purchases
- Renovation loans
- Foreclosed property acquisition
This comprehensive coverage means both banks can handle virtually any residential financing need. For broader market comparisons, see our three-bank rate comparison.
Total Interest Savings Analysis
20-Year Loan Comparison (5,000,000 principal)
EastWest Bank (5.99%)
Total Interest: 3,594,160
Total Payments: 8,594,160
Security Bank (6.99%)
Total Interest: 4,288,000
Total Payments: 9,288,000
Total Savings with EastWest Bank
Interest Savings: 693,840
Percentage Saved: 16.2%
The rate difference becomes more pronounced over longer terms, making EastWest Bank's advantage even stronger for extended loan periods.
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Compare My Options →Frequently Asked Questions
Which bank offers better refinancing rates: EastWest Bank or Security Bank?
EastWest Bank offers significantly better refinancing rates, with 1-year fixed rates starting at 5.99% compared to Security Bank's 6.99%. This 1% difference can save borrowers hundreds of thousands in interest over the loan term.
What are the minimum income requirements for each bank?
EastWest Bank requires a minimum monthly income of ₱40,000, while Security Bank requires ₱50,000. EastWest Bank's lower threshold makes it more accessible to middle-income borrowers seeking refinancing options.
How long does loan approval take for each bank?
EastWest Bank typically processes applications in 19 days, while Security Bank takes about 23 days. Both timeframes are competitive in the Philippine market, with EastWest Bank having a slight speed advantage.
Do both banks accept the same types of borrowers?
Both banks accept private employees, government workers, BPO staff, OFWs, self-employed individuals, and professionals. However, Security Bank also accepts freelancers, while EastWest Bank currently does not offer this option.
Can I refinance any type of property with these banks?
Yes, both EastWest Bank and Security Bank through Nook's platform support refinancing for all property types including existing homes, new construction, pre-selling units, RFO properties, and even foreclosed properties.
How much can I save by choosing EastWest Bank over Security Bank?
On a ₱5,000,000 loan over 20 years, choosing EastWest Bank's 5.99% rate over Security Bank's 6.99% rate saves approximately ₱693,840 in total interest payments – a 16.2% reduction in interest costs.
Is there any cost to compare and apply through Nook?
Nook's refinancing comparison and application service is completely free for borrowers. You can compare rates from both EastWest Bank and Security Bank, get expert guidance, and submit applications without any broker fees or hidden charges.