Metrobank vs SB Finance: Home Loan Overview
Metrobank is one of the Philippines' largest universal banks, offering a full suite of home loan products for purchases, construction, and refinancing. SB Finance Corporation is a non-bank financial institution and a subsidiary of Security Bank, focused on consumer lending including home loans, personal loans, and auto financing.
Both institutions are regulated by the Bangko Sentral ng Pilipinas (BSP), but their products, pricing, and processes differ significantly. Below, we compare the two across the dimensions that matter most to Filipino homeowners.
Important note: Interest rates for both Metrobank and SB Finance shown below are approximate figures based on publicly available information. Rates are subject to change without notice. Always verify current rates directly with the lender or through a licensed broker like Nook.
Interest Rate Comparison
| Feature | Metrobank | SB Finance | Nook (Best Available) |
|---|---|---|---|
| Fixed Rate (1-year) | ~7.50% – 8.50% p.a. | ~7.25% – 8.75% p.a. | From 5.99% p.a. |
| Fixed Rate (3-year) | ~8.00% – 9.00% p.a. | ~8.00% – 9.25% p.a. | From 5.99% p.a. |
| Fixed Rate (5-year) | ~8.50% – 9.50% p.a. | ~8.50% – 9.75% p.a. | From 5.99% p.a. |
| Rate Type | Fixed then repricing | Fixed then repricing | Fixed (partner bank terms) |
These are approximate ranges drawn from publicly available sources. Actual rates will depend on your loan amount, term, property type, and credit profile. For a comparison of how Metrobank stacks up against other major lenders, see our BDO vs Metrobank home loan comparison.
Loan Terms and Eligibility
| Feature | Metrobank | SB Finance |
|---|---|---|
| Minimum Loan Amount | ~500,000 | ~300,000 |
| 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, resident aliens, OFWs | Filipino citizens, OFWs |
| Minimum Age | 21 years old | 21 years old |
| Maximum Age at Loan Maturity | 65 years old | 65 years old |
| Employment Type | Employed, self-employed, OFW | Employed, self-employed, OFW |
Fees and Charges
| Fee | Metrobank | SB Finance |
|---|---|---|
| Processing Fee | ~5,000 – 10,000 (approximate) | ~3,000 – 8,000 (approximate) |
| Appraisal Fee | Charged separately | Charged separately |
| Documentary Stamp Tax | Borrower's account | Borrower's account |
| Notarial Fees | Borrower's account | Borrower's account |
| Early Repayment Penalty | May apply within fixed-rate period | May apply within fixed-rate period |
| Broker Fee (via Nook) | Free | Free |
Fee structures at both banks are subject to change. Always request a full list of charges before signing any loan agreement.
How Much Could You Save by Refinancing?
Let's say you have an existing home loan of 3,000,000 with 20 years remaining, and you're currently paying 8.50% p.a. — a rate common for borrowers who took out loans a few years ago without shopping around.
| Scenario | Rate | Monthly Payment (approx.) | Total Interest Over 20 Years (approx.) |
|---|---|---|---|
| Current loan (typical) | 8.50% p.a. | 26,036 | 3,248,640 |
| Refinance via Nook | 5.99% p.a. | 21,491 | 2,157,840 |
| Potential Savings | 2.51% p.a. | 4,545/month | ~1,090,800 total |
That's over 1,000,000 pesos in potential interest savings — and Nook's service costs you nothing. These figures are illustrative and based on straight-line approximations. Actual savings will vary based on your specific loan details.
Application Process Comparison
| Step | Metrobank | SB Finance | Via Nook |
|---|---|---|---|
| Initial Inquiry | Branch visit or online form | Online or branch | 100% online, 5-minute form |
| Document Submission | Physical or email | Physical or email | Digital upload |
| Bank Comparison | One bank only | One bank only | Multiple banks, one application |
| Processing Time | 2–4 weeks (approximate) | 2–4 weeks (approximate) | Streamlined via partner banks |
| Cost to Borrower | Standard bank fees | Standard bank fees | Free broker service |
Who Should Consider Metrobank?
Metrobank is a strong choice if you value the stability and brand recognition of one of the Philippines' largest universal banks, and if you already have an existing banking relationship with them. Their home loan products cover a wide range of needs including purchase, construction, and refinancing. For context on how Metrobank compares to other major lenders, you may also want to read our Metrobank vs PSBank home loan comparison.
That said, Metrobank's rates are not the lowest in the market, and their process — like most traditional banks — requires significant paperwork and in-person visits.
Who Should Consider SB Finance?
SB Finance may appeal to borrowers who want a non-bank alternative backed by Security Bank's infrastructure, or those who prefer a slightly more flexible product for smaller loan amounts. Their digital channels are generally more accessible than older traditional banks.
However, SB Finance's rates are broadly in line with — and sometimes higher than — traditional bank rates, so borrowers should still compare carefully before committing.
The Nook Alternative: Why Go Through a Broker?
Instead of applying to Metrobank or SB Finance directly and hoping you get a good rate, Nook lets you submit one application and get matched with competitive offers from multiple partner banks — all at no cost to you. Nook's partner banks have pre-negotiated rates starting from 5.99% p.a., which is significantly lower than the typical advertised rates at most Philippine banks.
Nook is ideal for:
- Homeowners looking to refinance an existing home loan to a lower rate
- Borrowers who want to compare multiple banks without doing multiple applications
- OFWs and busy professionals who prefer a fully digital process
- Anyone who wants expert guidance without paying broker fees
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
What is the difference between Metrobank and SB Finance for home loans?
Metrobank is a full-service universal bank offering home loans as part of a broad banking product suite, while SB Finance is a non-bank financial institution and Security Bank subsidiary focused specifically on consumer lending. Metrobank generally caters to larger loan amounts and longer terms (up to 25 years), while SB Finance may be more accessible for smaller borrowers. Both offer competitive but not market-leading rates compared to what's available through a broker like Nook.
Are Metrobank home loan rates fixed or variable?
Metrobank home loans typically offer a fixed interest rate for an initial period (commonly 1, 2, 3, or 5 years), after which the rate is repriced based on prevailing market rates. This means your monthly payment may increase after the fixed-rate period ends. Borrowers should plan for this repricing risk when budgeting long-term.
What are the approximate home loan rates at SB Finance?
Based on publicly available information, SB Finance home loan rates are approximately 7.25% to 9.75% p.a. depending on the fixing period and loan terms. These rates are approximate and subject to change. Always verify the latest rates directly with SB Finance or through a licensed mortgage broker. Note that Nook partner banks currently offer rates from 5.99% p.a., which is significantly lower.
Can I refinance my Metrobank home loan through Nook?
Yes. If you currently have a home loan with Metrobank and are paying a rate higher than 5.99% p.a., you may be eligible to refinance through one of Nook's partner banks at a lower rate. Nook's service is 100% free to borrowers. You can start by submitting your loan details on nook.com.ph to see what rates you qualify for.
How much can I save by refinancing from a typical Metrobank or SB Finance rate to Nook's best rate?
The savings depend on your loan balance, remaining term, and current rate. As an example, on a loan of 3,000,000 with 20 years remaining, switching from 8.50% p.a. to 5.99% p.a. could save approximately 4,545 per month and over 1,000,000 in total interest. Use Nook's free refinance calculator on nook.com.ph to estimate your personal savings.
Is SB Finance a bank or a lending company?
SB Finance Corporation is a non-bank financial institution (NBFI) registered with the Securities and Exchange Commission (SEC) and supervised by the Bangko Sentral ng Pilipinas (BSP). It is a subsidiary of Security Bank Corporation. While it is not a commercial bank itself, it is backed by Security Bank and offers regulated financial products including home loans.
Which is better for home loans: Metrobank or SB Finance?
The better choice depends on your specific situation. Metrobank is suited for borrowers seeking larger loan amounts, longer terms, and the backing of a major universal bank. SB Finance may offer more flexibility for smaller loans. However, for most borrowers focused on minimizing interest costs, neither may offer the most competitive rates available — refinancing through Nook can unlock rates from 5.99% p.a. with no broker fee.
How long does it take to get a home loan approved at Metrobank or SB Finance?
Approval timelines at both institutions are typically 2 to 4 weeks from submission of complete documents, though this can vary based on your application complexity, property valuation, and document completeness. Applying through Nook may streamline this process as our team helps ensure your documents are complete before submission to our partner banks.