Metrobank vs Security Bank

Metrobank vs Security Bank Home Loan: At a Glance

Both Metrobank and Security Bank are well-established Philippine banks offering home loan and refinancing products. However, there are meaningful differences in rate transparency, eligibility criteria, and processing speed that can significantly affect your borrowing experience. This comparison uses verified rate data for Security Bank (a Nook partner bank) and publicly available estimates for Metrobank — actual Metrobank rates may vary and should be confirmed directly with the bank.

Note: Metrobank rates shown are approximate estimates based on publicly available information and are subject to change. Always verify current rates directly with Metrobank. Security Bank rates are verified partner rates as of 2026.

Interest Rate Comparison: What the Numbers Mean for Your Wallet

Interest rate differences may look small on paper, but over a 20-year home loan, even a 1% gap can mean hundreds of thousands of pesos in savings. Here's a practical illustration using a loan amount of 3,000,000 over 20 years:

That's a potential saving of roughly 792,000 in interest over the life of the loan — simply by choosing a lower rate. For homeowners currently paying above 7.5%, refinancing to Security Bank's 6.75% 5-year fixed rate through Nook could deliver substantial monthly relief. If you want to explore how refinancing stacks up against other major lenders, see our triple comparison of BDO, Metrobank, and Security Bank home loan rates.

Monthly payment and total interest figures are illustrative estimates based on a fixed-rate calculation for the full 20-year term. Actual payments will vary based on the bank's repricing schedule after the fixed period ends.

Loan Purpose Eligibility: What Can You Use the Loan For?

Not all home loan products cover the same purposes. Here's how the two banks compare on loan use cases:

Security Bank's broad coverage of loan purposes — including foreclosed properties and reselling — makes it a flexible option for a range of buyer profiles. Metrobank also covers most major purposes, though eligibility for specific property types may vary. Check with your preferred bank or speak to a Nook advisor to confirm your property qualifies.

Borrower Eligibility: Who Qualifies?

Qualifying for a home loan depends on your income, employment type, and financial profile. Here's how the two banks compare on key eligibility criteria:

Security Bank's explicit acceptance of freelancers and professionals is a standout feature, particularly as more Filipinos work in non-traditional employment arrangements. Their 40% DTI ceiling is also among the more accessible in the Philippine home loan market, giving borrowers more room to qualify.

Processing Time and Application Experience

Speed matters when you're trying to close on a property or lock in a refinance rate before rates move. Here's what to expect from each bank:

• Security Bank (via Nook): Typical approval in approximately 23 days. Applying through Nook means a single application that a dedicated mortgage broker handles on your behalf — at no cost to you. Your broker coordinates directly with the bank, helps you prepare documents, and keeps the process moving.
• Metrobank: Approval timelines are estimated at 4–6 weeks based on publicly available information, though actual timelines can vary based on your branch, document completeness, and loan type. Applications are typically handled directly through Metrobank branches or online.

For borrowers who want a faster, guided experience with verified rates, applying for Security Bank through Nook is the more streamlined path. You avoid the guesswork of walking into a branch with uncertain outcomes.

Refinancing: Which Bank is Better?

If you're an existing homeowner looking to lower your monthly payments through refinancing, the comparison becomes even more compelling. Security Bank's 5-year fixed rate of 6.75% p.a. is one of the most competitive refinance rates available in the Philippines right now — and the best rate currently available through Nook is 5.99% p.a. depending on your profile and loan details.

By contrast, Metrobank's refinancing rates are estimated in the 8–9% range, meaning borrowers currently with Metrobank at those rates could potentially save significantly by refinancing to Security Bank via Nook. For a deeper look at refinancing options between these two institutions, read our detailed guide on Metrobank vs Security Bank refinance rates.

Key refinancing considerations:

• Break-even period: Factor in processing fees, appraisal costs, and documentary stamp taxes when calculating your true savings.
• Lock-in penalties: Check whether your current loan has a prepayment or refinancing penalty before proceeding.
• Rate fixing period: A 5-year fixed gives you more payment stability than a 1-year fixed, which is ideal if you expect rates to rise.

Fees and Other Costs to Consider

Beyond the headline interest rate, home loan costs include a range of fees that affect your total cost of borrowing. While specific fee schedules vary and should be confirmed with each bank, here are the typical charges to ask about:

One cost advantage of going through Nook is that there is zero broker fee charged to the borrower. Nook is compensated by the bank, not by you — so you get professional mortgage guidance and rate negotiation at no additional cost.

All rates and fees are subject to change. Please verify current rates and fee schedules directly with the respective banks or speak with a Nook mortgage advisor for up-to-date information.