Landbank vs SB Finance: Quick Overview
Landbank (Land Bank of the Philippines) is a government-owned bank with a strong mandate to serve agricultural, rural, and socialized housing borrowers. SB Finance, on the other hand, is a subsidiary of Security Bank focused on consumer lending including home loans and home equity products. Both institutions serve distinct market segments, and understanding these differences is key to choosing the right lender — or knowing when to refinance.
Important note: Rates shown for Landbank are approximate figures based on publicly available information and are subject to change without notice. Always verify current rates directly with the bank. SB Finance rates are indicative and similarly subject to change. Nook partner bank rates (as low as 5.99% p.a.) are verified and regularly updated.
Interest Rate Comparison
| Feature | Landbank | SB Finance | Nook (Best Available) |
|---|---|---|---|
| Starting Rate (indicative) | ~7.00% p.a. | ~7.50% p.a. | 5.99% p.a. |
| Rate Type | Fixed (1–5 yr repricing) | Fixed (1–5 yr repricing) | Fixed (varies by bank) |
| Rate Verification | Approximate only | Approximate only | Verified by Nook |
| Rate Lock Period | 1, 2, 3, or 5 years | 1, 2, 3, or 5 years | Up to 5 years (varies) |
Based on publicly available data, Landbank's home loan rates have historically started at around 7.00% p.a. for fixed periods, while SB Finance typically starts slightly higher. However, both can vary significantly depending on your loan amount, term, property type, and borrower profile. These rates are approximate and subject to change — we strongly recommend contacting each bank directly for a current quotation.
Monthly Repayment Comparison
To illustrate the real-world cost difference, here's how monthly repayments compare on a 3,000,000 loan over 20 years at different rate scenarios:
| Rate Scenario | Monthly Repayment (approx.) | Total Interest Paid (approx.) |
|---|---|---|
| Landbank ~7.00% p.a. | 23,259 | 2,582,160 |
| SB Finance ~7.50% p.a. | 24,059 | 2,774,160 |
| Nook Best Rate 5.99% p.a. | 21,491 | 2,157,840 |
At 5.99% p.a. versus a typical 7.00% rate, a borrower with a 3,000,000 loan could save approximately 1,768 per month and over 424,000 in total interest over 20 years. That's a meaningful difference — and Nook's free broker service helps you access these rates without paying a single peso in broker fees.
Loan Features & Eligibility
| Feature | Landbank | SB Finance |
|---|---|---|
| Minimum Loan Amount | ~300,000 | ~500,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 80% of appraised value |
| Loan Term | Up to 25 years | Up to 20 years |
| Eligible Borrowers | Filipino citizens; OFWs; government employees | Filipino citizens; employed & self-employed |
| OFW Borrowers | Yes (with conditions) | Yes (with conditions) |
| Socialized Housing | Yes (strong focus) | Limited |
| Refinancing Available | Yes | Yes |
Landbank has a distinct advantage for borrowers in the socialized or economic housing segment, given its government mandate. SB Finance, backed by Security Bank, offers a more commercial consumer lending approach with potentially faster processing for qualified private-sector employees. If you're weighing other government-linked options, you may also find our Landbank vs Pag-IBIG comparison helpful, as Pag-IBIG is another common alternative for socialized housing borrowers.
Fees & Charges
| Fee | Landbank | SB Finance |
|---|---|---|
| Processing Fee | Varies (check with bank) | Varies (check with bank) |
| Appraisal Fee | Borrower's account | Borrower's account |
| Documentary Stamp Tax | Borrower's account | Borrower's account |
| Mortgage Registration Fee | Borrower's account | Borrower's account |
| Early Repayment Penalty | May apply within lock-in period | May apply within lock-in period |
| Broker Fee (via Nook) | N/A | N/A |
As with most Philippine banks, both Landbank and SB Finance pass standard government-mandated fees (DST, registration, notarial) to the borrower. These fees apply regardless of which bank you choose, so comparing the net interest rate and processing costs is the most meaningful way to evaluate total loan cost. When you apply through Nook, you pay zero broker fees — our service is completely free to borrowers.
Application Process
| Step | Landbank | SB Finance | Via Nook |
|---|---|---|---|
| Pre-qualification | Branch visit typically required | Online or branch | 100% online |
| Document Submission | Branch or mail | Branch or courier | Digital upload |
| Processing Time | Several weeks (varies) | Several weeks (varies) | Streamlined via partner banks |
| Bank Options | Landbank only | SB Finance only | Multiple banks compared for you |
One of the core advantages of using Nook is that you don't have to apply to each bank separately and wait weeks for responses. Nook submits your profile to multiple partner banks simultaneously, giving you competing offers so you can choose the best rate. This is especially valuable if you're unsure whether Landbank or SB Finance is the right fit — Nook does the comparison work for you.
Who Should Choose Landbank?
- Government employees or those with an existing Landbank relationship
- Borrowers in the socialized or economic housing segment
- OFW borrowers who may benefit from Landbank's government-backed programs
- Those purchasing properties under government housing programs
Landbank's government mandate means it often has programs and terms suited to borrowers who may not qualify for standard commercial bank products. If you're comparing Landbank against another government-linked lender, see also our Bank of Commerce vs Landbank comparison for another perspective.
Who Should Choose SB Finance?
- Private-sector employees and professionals seeking a commercial lending experience
- Borrowers who already have a relationship with Security Bank
- Those looking for home equity or home improvement loan products alongside a home purchase loan
- Borrowers comfortable with an online-friendly application process
When Should You Refinance Instead?
If you took out your home loan more than 2–3 years ago with either Landbank or SB Finance, there's a strong chance your current rate is above 7% p.a. Refinancing through Nook to a partner bank offering 5.99% p.a. could meaningfully reduce your monthly repayment and total interest cost.
Here's a quick rule of thumb: if your current rate is 1 percentage point or more above 5.99%, refinancing is worth exploring. On a 5,000,000 loan over 20 years, a 1% rate reduction saves approximately 2,900 per month and around 696,000 over the life of the loan.
Nook handles the entire refinancing process for you — from comparing rates across multiple banks to preparing your application documents — at zero cost to you as the borrower. There's no obligation to proceed after getting your free rate comparison.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Is Landbank or SB Finance better for a home loan?
It depends on your borrower profile. Landbank is generally better suited for government employees, socialized housing borrowers, and those with existing government banking relationships. SB Finance (backed by Security Bank) tends to cater more to private-sector employees and professionals seeking a commercial lending experience. However, if your priority is getting the lowest possible rate, working with a Nook partner bank may deliver a better outcome than either — with rates currently as low as 5.99% p.a. and no broker fees charged to you.
What are Landbank's current home loan rates?
Based on publicly available information, Landbank's indicative home loan rates start at approximately 7.00% p.a. for fixed-rate periods. However, these rates are subject to change and vary based on your loan amount, property type, and borrower profile. We strongly recommend contacting Landbank directly or visiting a branch for a current quotation. Alternatively, Nook can help you compare verified rates from multiple partner banks — which currently start at 5.99% p.a.
What are SB Finance's current home loan rates?
SB Finance's home loan rates are indicatively around 7.50% p.a. or higher depending on loan tenure and borrower profile. As with all banks, these rates are subject to change without notice. Contact SB Finance directly for the most current rates. If you're looking to compare multiple banks simultaneously, Nook's free service can show you verified rates from its partner banks without you having to call each institution individually.
Can I refinance my Landbank home loan through Nook?
Yes. If you currently have a home loan with Landbank and are paying a rate above 5.99% p.a., you may be eligible to refinance through one of Nook's partner banks. Nook will compare rates on your behalf and help you find a better deal — completely free of charge. The key requirements are that your loan must be in good standing and you must have sufficient equity in your property (typically at least 20%).
Can I refinance my SB Finance home loan through Nook?
Yes. If you have an existing SB Finance home loan and your rate is above what Nook's partner banks currently offer (starting at 5.99% p.a.), refinancing could save you significantly. Nook will assess your situation, compare available rates from multiple lenders, and guide you through the process at no cost to you. There's no obligation to proceed — you can get a free rate comparison first.
How much can I save by refinancing from 7% to 5.99%?
On a 3,000,000 loan over 20 years, refinancing from 7.00% to 5.99% p.a. saves approximately 1,768 per month and over 424,000 in total interest over the life of the loan. On a larger loan of 5,000,000, the monthly saving rises to approximately 2,900 and total savings exceed 696,000. Use Nook's free calculator to get a personalized estimate based on your actual loan balance and remaining term.
Does Nook charge any fees for its refinancing service?
No. Nook's service is 100% free to borrowers. Nook is compensated by the partner bank when a loan is successfully settled — similar to how a real estate agent is paid by the seller, not the buyer. You receive full access to Nook's rate comparison, application support, and document processing at no cost whatsoever.
What documents do I need to refinance my home loan?
Standard documents for home loan refinancing in the Philippines typically include: valid government-issued IDs, proof of income (payslips, ITR, or audited financial statements for self-employed borrowers), copy of your existing loan statement of account, Transfer Certificate of Title (TCT), tax declaration, and a recent appraisal report. Nook will provide you with a complete and personalized checklist once you start your application.