EastWest Bank vs Security Bank

EastWest Bank vs Security Bank: Rate Comparison at a Glance

Both banks are verified Nook partner banks, meaning you can apply to either — or both — through Nook's free broker service with no out-of-pocket cost to you. Below are their current advertised home loan refinancing rates.

Note: Interest rates are subject to change. Always verify current rates with the bank or through your Nook advisor before proceeding.

Monthly Payment Comparison: Real Numbers on a 3,000,000 Loan

To make this practical, here's what a borrower refinancing a 3,000,000 home loan over 20 years would pay monthly under each bank's 1-year and 5-year fixed rates. After the fixed period, rates reprice — but locking in a lower rate now gives you immediate monthly savings.

On a 1-year fixed rate, EastWest Bank saves you approximately 1,280 per month compared to Security Bank — that's over 15,360 in savings in just the first year. Over a 5-year fixed period, EastWest Bank still saves roughly 1,030 per month versus Security Bank's 5-year rate.

If your current rate is between 7% and 10% — which is where most Filipino homeowners sit today — switching to EastWest Bank's 5.99% rate could save you 2,000 to 6,000 per month depending on your loan balance. For a full picture of your potential savings, see our EastWest Bank housing loan guide with calculator.

Eligibility & Requirements Compared

Rates only matter if you qualify. Here's how the two banks compare on borrower eligibility:

EastWest Bank's lower minimum income threshold of 40,000/month makes it accessible to a wider range of Filipino borrowers, including those in the provinces or with more modest household incomes. Security Bank requires a minimum of 50,000/month but extends eligibility to freelancers — a group EastWest does not explicitly accept.

EastWest Bank also processes applications faster on average at 19 days versus Security Bank's 23 days, which can matter if you're on a tight timeline to refinance before your lock-in period ends.

Loan Purposes: What Each Bank Allows

Both banks cover a broad range of home loan purposes through Nook, making them versatile for refinancing and beyond:

For homeowners looking to tap into their property's equity, EastWest Bank's home equity rate of 6.25% p.a. is significantly more competitive than Security Bank's 7.50% p.a. — a difference of 125 basis points that adds up meaningfully over time.

Which Bank Is Better for Refinancing?

For pure refinancing — switching your existing home loan to a lower rate — EastWest Bank is the stronger choice for most borrowers. Its 1-year fixed rate of 5.99% p.a. is the lowest currently available through Nook, its income requirement is more accessible, and its approval timeline is faster.

Security Bank makes more sense if you:

• Are a freelancer or independent contractor who doesn't qualify under EastWest Bank's employment categories
• Prefer a 5-year fixed rate and are comfortable with Security Bank's 6.75% pricing
• Have a household income above 50,000/month and want to compare offers from both banks before deciding

The good news: through Nook, you don't have to choose just one. Our advisors can submit your application to multiple partner banks simultaneously, letting you compare actual loan offers side by side — all at no cost to you. You can also compare how EastWest stacks up against other lenders in our Robinsons Bank vs EastWest Bank comparison.