Landbank vs Security Bank: Home Loan Rate Comparison
Both Landbank and Security Bank are well-known names in Philippine home lending, but they serve different borrower profiles and operate very differently. Here's how they stack up on the metrics that matter most.
| Feature | Landbank | Security Bank |
|---|---|---|
| 1-Year Fixed Rate | ~7.00%–8.00% p.a. (approx.) | 6.99% p.a. |
| 5-Year Fixed Rate | ~7.50%–9.00% p.a. (approx.) | 6.75% p.a. |
| Home Equity Rate | ~8.00%–9.50% p.a. (approx.) | 7.50% p.a. |
| Min. Monthly Income | Varies by branch | 50,000 |
| Typical Approval Time | 30–45 days (approx.) | 23 days |
| Max DTI Ratio | Not publicly disclosed | 40% |
| Available via Nook | No | Yes — free broker service |
Landbank rates shown are approximate figures based on publicly available information and are subject to change. Always verify current rates directly with Landbank. Security Bank rates are verified partner rates current at time of publication and are also subject to change.
Monthly Payment Comparison: Sample Loan of 3,000,000
To illustrate the real-world impact of the rate difference, here's how monthly repayments compare on a 3,000,000 home loan over a 20-year term at different fixed rates.
| Scenario | Rate | Est. Monthly Payment | Total Interest (20 yrs) |
|---|---|---|---|
| Landbank (approx. 5-yr fixed) | 8.50% p.a. | ~26,035 | ~3,248,400 |
| Security Bank (5-yr fixed) | 6.75% p.a. | ~22,757 | ~2,461,680 |
| Potential Monthly Savings | — | ~3,278 | ~786,720 over loan life |
That's nearly 800,000 pesos in total interest savings over the life of the loan — simply by choosing a lower rate. If you're currently paying a Landbank rate around 8.5% or higher, refinancing to Security Bank through Nook could be one of the most impactful financial decisions you make this year.
Landbank: Strengths and Limitations
Landbank of the Philippines is a government-owned bank with a strong presence in agrarian, rural, and public sector lending. For home loans, it can be a reasonable option — particularly for government employees and borrowers in areas where Landbank branches are the most accessible option.
Landbank Strengths
- Government-backed institution with strong nationwide branch network, especially in rural areas
- May offer favorable terms for government employees and public sector borrowers
- Generally considered a stable and trusted institution
- Can be a good fit for borrowers who prefer transacting in person at a branch
Landbank Limitations
- Rates are not publicly listed in detail and can vary significantly by branch and loan type
- Processing times can be slower than private banks, often 30–45 days or more
- Less transparent online application process — most transactions require in-branch visits
- Not currently available through Nook's digital broker platform
- DTI and eligibility criteria not publicly standardized
If you're weighing Landbank against other government-linked options, you may also find our comparison of Landbank vs Pag-IBIG home loan rates useful, as both cater to a similar borrower audience.
Security Bank: Strengths and Limitations
Security Bank is one of the Philippines' leading private universal banks and a verified Nook partner. Their home loan product is among the most competitive in the market, with transparent rates, fast processing, and broad eligibility across employment types.
Security Bank Strengths
- Verified competitive rates: 6.99% (1-yr fixed), 6.75% (5-yr fixed), 7.50% (home equity)
- Fast approval — typically 23 days, one of the fastest among major banks
- Broad borrower eligibility: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer
- Supports multiple loan purposes: Refinancing, RFO, Pre-Selling, New Construction, Home Equity, Renovation, Foreclosed, Reselling
- Available through Nook — apply with free broker assistance, no fees to borrower
- Clear, publicly listed DTI maximum of 40%
Security Bank Limitations
- Minimum monthly income requirement of 50,000 may exclude some lower-income borrowers
- As a private bank, rates adjust periodically with market conditions
Which Borrower Profile Is Each Bank Best For?
| Borrower Type | Better Fit | Reason |
|---|---|---|
| Government employee earning under 50,000/mo | Landbank | Lower income threshold, government affiliation |
| Private sector employee seeking lowest rate | Security Bank | Competitive rates, fast approval, free Nook service |
| OFW or Seafarer refinancing | Security Bank | Explicitly supports OFW/Seafarer borrowers |
| Self-employed or freelancer | Security Bank | Accepts freelancers and self-employed — rare among major banks |
| Rural borrower near Landbank branch | Landbank | Better physical access and familiarity |
| Homeowner refinancing for savings | Security Bank via Nook | Lower verified rates, free broker support, digital process |
Why Apply Through Nook Instead of Going Direct?
Whether you're leaning toward Security Bank or still exploring your options, applying through Nook gives you advantages that going direct to any bank simply can't match:
- It's 100% free. Nook is a licensed mortgage broker — banks pay us, not you.
- You get broker expertise. Our team reviews your documents before submission to maximize your approval chances.
- You compare multiple banks at once. No need to fill out forms at five different banks.
- Faster processing. Nook's partner relationships mean your application gets priority handling.
For borrowers who have also been comparing Landbank against other institutions, our page on Bank of Commerce vs Landbank home loan rates offers another useful reference point before you make your final decision.
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Compare My Options →Frequently Asked Questions
What is the current interest rate for Landbank home loans?
Landbank's home loan rates are not publicly listed in a standardized format and can vary depending on the branch, loan type, fixing period, and borrower profile. Based on publicly available information, rates are generally estimated to range from approximately 7.00% to 9.50% p.a. depending on the fixing period. We strongly recommend contacting Landbank directly or visiting a branch for a formal quote, as rates are subject to change.
What is Security Bank's home loan interest rate?
Security Bank's verified home loan rates (via Nook) are: 6.99% p.a. for a 1-year fixed period, 6.75% p.a. for a 5-year fixed period, and 7.50% p.a. for home equity loans. These rates are among the most competitive currently available in the Philippine market and are subject to change — always confirm current rates before applying.
Can I refinance my Landbank home loan with Security Bank?
Yes. If you currently have a home loan with Landbank and want to switch to a lower rate, you can refinance with Security Bank through Nook. The process is fully digital and free to you as a borrower. Security Bank's 5-year fixed refinance rate of 6.75% p.a. could result in significant monthly savings if your current Landbank rate is higher.
How long does Security Bank take to approve a home loan?
Security Bank typically approves home loans in approximately 23 days when applications are complete and accurate. Applying through Nook helps speed up this process because our broker team reviews your documents before submission, reducing the risk of back-and-forth delays with the bank.
Does Security Bank accept OFW or self-employed borrowers?
Yes. Security Bank accepts a wide range of employment types including Private Employees, Government Employees, BPO Workers, OFWs and Seafarers, Self-Employed individuals, Professionals, and Freelancers. This makes it one of the more accessible major banks for non-traditional income earners.
What is the minimum monthly income to qualify for a Security Bank home loan?
Security Bank requires a minimum monthly income of 50,000. If your income is below this threshold, you may want to explore other options — for example, comparing Landbank vs Pag-IBIG home loan rates, as Pag-IBIG (HDMF) often has more flexible income requirements for lower-income borrowers.
Is Nook's service really free? How does it work?
Yes — Nook's mortgage broker service is completely free to borrowers. Nook earns a referral fee from partner banks when a loan is successfully processed. You pay nothing extra, and you get the same (or better) rates than going to the bank directly. Nook helps you compare options, prepare your documents, and manage your application end-to-end.
How much can I save by refinancing from a high-rate loan to Security Bank?
On a 3,000,000 loan over 20 years, switching from a rate of approximately 8.50% to Security Bank's 5-year fixed rate of 6.75% could reduce your monthly payment by around 3,278 and save you nearly 786,720 in total interest over the life of the loan. Your actual savings will depend on your current balance, remaining term, and applicable fees. Use Nook's free refinance calculator for a personalized estimate.