First Metro Investment vs Security Bank: Home Loan Rate Comparison
Choosing between First Metro Investment and Security Bank for your home loan or refinance can feel overwhelming. Both are established names in Philippine finance, but they serve different market segments and come with different rate structures, processing timelines, and borrower requirements. This guide breaks it all down so you can make a confident, informed decision.
If you're currently paying 7% or more on your existing home loan, refinancing through Nook could reduce your monthly payments significantly. The best refinance rate currently available through Nook is 5.99% p.a. — a meaningful difference when you're carrying a loan of 3,000,000 or more.
About First Metro Investment
First Metro Investment Corporation (FMIC) is the investment banking arm of the Metrobank Group, one of the Philippines' largest financial conglomerates. While FMIC is primarily known for capital markets, securities, and investment products, it also facilitates home financing through its parent group's network. Borrowers considering First Metro Investment for a home loan are typically engaging with Metrobank's broader product suite.
Because FMIC operates more as an investment house than a retail bank, its home loan products may be less standardized and can involve more coordination between departments. Rates and terms are often negotiated on a case-by-case basis, which means less transparency upfront for new borrowers.
For a broader view of how other banks compare on refinancing, see our First Metro Investment vs RCBC home loan comparison.
About Security Bank
Security Bank is one of the Philippines' top universal banks and a Nook partner bank. It offers a clearly structured home loan product with published fixed rates, defined eligibility criteria, and a streamlined digital-friendly application process. Security Bank is widely regarded as one of the most borrower-accessible banks for refinancing in the Philippines.
As a Nook partner, Security Bank's home loans can be applied for through Nook at zero cost to the borrower — no broker fees, no hidden charges. Nook handles the paperwork coordination and bank liaison so you don't have to.
Interest Rate Comparison
| Rate Type | First Metro Investment | Security Bank |
|---|---|---|
| 1-Year Fixed | Varies / negotiated | 6.99% p.a. |
| 5-Year Fixed | Varies / negotiated | 6.75% p.a. |
| Home Equity Loan | Not widely published | 7.50% p.a. |
Security Bank's rates are fixed and published, which gives borrowers a clear picture of their monthly obligations from day one. First Metro Investment's rates depend heavily on the borrower's relationship with the Metrobank Group and the specific loan structure being arranged.
Note: Interest rates are subject to change. Always verify current rates directly with the bank or through Nook before proceeding.
Monthly Payment Estimates
To illustrate the real-world impact of rate differences, here are estimated monthly payments for a 3,000,000 home loan over 20 years at Security Bank's published rates:
| Loan Amount | Rate | Term | Est. Monthly Payment |
|---|---|---|---|
| 3,000,000 | 6.75% (5-Year Fixed) | 20 years | ~22,700 |
| 3,000,000 | 6.99% (1-Year Fixed) | 20 years | ~23,200 |
| 5,000,000 | 6.75% (5-Year Fixed) | 20 years | ~37,800 |
| 5,000,000 | 6.99% (1-Year Fixed) | 20 years | ~38,700 |
If you're currently paying 8% or higher on your existing loan, refinancing to Security Bank's 6.75% could save you thousands of pesos every month. On a 5,000,000 loan, the difference between 8% and 6.75% is roughly 4,200 per month — or about 50,000 per year.
Eligibility and Requirements
| Requirement | First Metro Investment | Security Bank |
|---|---|---|
| Minimum Monthly Income | Not publicly stated | 50,000 |
| Employment Types Accepted | Limited / case-by-case | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer |
| Loan Purposes | Limited disclosure | Refinancing, RFO, Pre-Selling, Reselling, Renovation, Home Equity, New Construction, Foreclosed |
| Max Debt-to-Income Ratio | Not publicly stated | 40% |
Security Bank's eligibility framework is transparent and covers a wide range of borrower profiles — including OFWs, freelancers, and BPO workers who are sometimes underserved by more traditional lenders. This makes it especially attractive for modern Filipino homeowners whose income structures don't fit the classic employed-with-payslip mold.
Processing Time and Application Experience
Security Bank's typical home loan approval timeline is 23 days — among the faster turnaround times in the Philippine banking sector. Their application process is structured and document-driven, with clear milestones borrowers can track.
First Metro Investment, by contrast, operates more through relationship-based banking. This can mean slower processing and less predictability, particularly for borrowers who don't already have an established Metrobank Group relationship.
For borrowers who want speed and certainty — especially those refinancing to escape a loan that's about to reprice — Security Bank's defined timeline through Nook is a significant advantage.
Refinancing: Which Bank Is Better?
Refinancing is about getting the best possible rate with the least friction. On both counts, Security Bank has a clear edge over First Metro Investment for most borrowers:
- Published rates: Security Bank shows you exactly what you're getting. No negotiation required.
- Broad eligibility: Security Bank accepts refinancing applications from employed, self-employed, OFW, and freelance borrowers alike.
- Faster approval: A 23-day timeline gives refinancers certainty when planning their transition from their current lender.
- Free broker access: Through Nook, Security Bank applications are handled at zero cost to the borrower.
If you're comparing other government-linked lenders, you may also find our Landbank vs Security Bank home loan comparison helpful for context.
Which Bank Should You Choose?
For the vast majority of Filipino homeowners looking to refinance, Security Bank — applied through Nook — is the more practical and financially advantageous choice. The rate transparency, broad eligibility, and free broker support make the process far less stressful than navigating a non-retail investment house like First Metro Investment.
First Metro Investment may be worth exploring if you are already a high-net-worth Metrobank Group client with an existing relationship and are looking for a bespoke financing arrangement. For everyone else, Security Bank offers a better combination of rate, speed, and accessibility.
Ready to see exactly how much you could save? Use Nook's free refinance calculator or apply directly — Nook compares multiple lenders on your behalf so you always get the best deal available.
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Compare My Options →Frequently Asked Questions
Is First Metro Investment a bank that offers home loans directly?
First Metro Investment Corporation is primarily an investment banking and securities firm under the Metrobank Group. It is not a retail bank in the traditional sense, so home loans through FMIC are typically arranged through its parent group's network rather than via a standard public-facing application process. This can make rates and terms less transparent compared to dedicated retail banks like Security Bank.
What are Security Bank's current home loan rates?
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 and refinancing. Their Home Equity loan rate is 7.50% p.a. These rates are subject to change, so always verify current figures through Nook or directly with Security Bank before applying.
Can I refinance my home loan with Security Bank if I'm an OFW or freelancer?
Yes. Security Bank accepts a wide range of employment types including OFW/Seafarers, freelancers, BPO workers, self-employed individuals, and professionals — in addition to private and government employees. This broad eligibility makes Security Bank one of the more accessible lenders for modern Filipino borrowers.
How long does Security Bank take to approve a home loan?
Security Bank's typical home loan approval timeline is approximately 23 days. This is among the faster turnaround times in the Philippine banking sector and gives refinancers a clear, predictable window to plan their transition from their current lender.
Is it free to apply for a Security Bank home loan through Nook?
Yes, Nook's service is 100% free to the borrower. As a digital mortgage broker, Nook is compensated by the bank — not the applicant. You get full broker support, document coordination, and rate comparison at zero cost to you.
What is the minimum income requirement for a Security Bank home loan?
Security Bank requires a minimum combined monthly income of 50,000. This requirement applies across employment types. If your income is below this threshold, Nook can help you explore alternative lenders that may be a better fit for your profile.
What is the best refinance rate available in the Philippines right now?
The best refinance rate currently available through Nook is 5.99% p.a. Most Filipino homeowners are paying between 7% and 10% on their existing home loans, meaning refinancing could result in significant monthly savings. Use Nook's free service to find out exactly what rate you qualify for.
Can I use a Security Bank home loan for property renovation or home equity purposes?
Yes. Security Bank supports a wide range of loan purposes including refinancing, renovation, home equity, new construction, pre-selling, ready-for-occupancy (RFO), reselling, and foreclosed properties. This versatility makes Security Bank a strong all-around lender for various property financing needs.