Metrobank vs Security Bank Housing Loan: 2026 Rate Overview
Choosing between Metrobank and Security Bank for your housing loan — whether for a new purchase or refinancing — comes down to three things: the interest rate you'll actually get, how fast you can get approved, and what it costs to apply. Below is a structured, side-by-side breakdown of both banks based on the latest available information.
Note: Metrobank rates shown below are approximate figures based on publicly available information and are subject to change. Always verify current rates directly with Metrobank. Security Bank rates are verified figures available through Nook as of 2026.
| Feature | Metrobank | Security Bank (via Nook) |
|---|---|---|
| 1-Year Fixed Rate | ~7.00%–8.00% p.a. (approx.) | 6.99% p.a. |
| 5-Year Fixed Rate | ~7.50%–8.50% p.a. (approx.) | 6.75% p.a. |
| Home Equity Rate | ~8.00%–9.00% p.a. (approx.) | 7.50% p.a. |
| Minimum Monthly Income | ~P40,000–P50,000 (approx.) | P50,000 |
| Typical Approval Time | ~30–45 days (approx.) | 23 days |
| Maximum DTI Ratio | ~35%–40% (approx.) | 40% |
| Broker Fee via Nook | N/A | Free (100%) |
Monthly Amortization Comparison
To show you the real-world impact of the rate difference, here are estimated monthly amortizations for a P3,000,000 home loan over 20 years, comparing approximate Metrobank rates against Security Bank's verified rates through Nook.
| Scenario | Rate Used | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| Metrobank (1-yr fixed, approx.) | 7.50% p.a. | 24,063 | 2,775,120 |
| Security Bank 1-yr fixed (via Nook) | 6.99% p.a. | 23,234 | 2,576,160 |
| Security Bank 5-yr fixed (via Nook) | 6.75% p.a. | 22,841 | 2,481,840 |
On a P3,000,000 loan over 20 years, choosing Security Bank's 5-year fixed rate over a typical Metrobank rate could save you approximately 293,000 in total interest — a meaningful difference that compounds over time. If you're already an existing homeowner, this is precisely the kind of saving that makes refinancing from Metrobank to Security Bank worth exploring seriously.
Calculations above are estimates for illustration only. Actual monthly payments depend on your specific loan amount, term, fees, and the rate offered to you. Use Nook's free calculator for a personalized figure.
Eligible Loan Purposes
Both banks cover a broad range of housing loan purposes, but Security Bank through Nook has a particularly wide scope that caters to diverse borrower profiles.
| Loan Purpose | Metrobank | Security Bank (via Nook) |
|---|---|---|
| Refinancing | Yes | Yes |
| Ready for Occupancy (RFO) | Yes | Yes |
| Pre-Selling | Yes | Yes |
| Reselling | Yes | Yes |
| New Construction | Yes | Yes |
| Renovation | Yes | Yes |
| Home Equity / Redrawn | Yes | Yes (7.50% p.a.) |
| Foreclosed Properties | Limited | Yes |
Security Bank's flexibility with foreclosed properties is a notable advantage for investors and bargain hunters — an area where many banks are more restrictive.
Who Qualifies? Employment Type Comparison
Eligibility requirements can be the deciding factor for many borrowers. Here's how the two banks compare on accepted employment types.
| Employment Type | Metrobank | Security Bank (via Nook) |
|---|---|---|
| Private Employee | Yes | Yes |
| Government Employee | Yes | Yes |
| Self-Employed | Yes | Yes |
| OFW / Seafarer | Yes (with conditions) | Yes |
| BPO Employee | Limited | Yes |
| Freelancer | Limited | Yes |
| Professional (Doctor, Lawyer, etc.) | Yes | Yes |
Security Bank's acceptance of BPO employees and freelancers makes it a more inclusive lender — especially relevant given how large these workforce segments have grown in the Philippines. If you fall into one of these categories and have been unsure about eligibility, Security Bank via Nook is worth a closer look.
Application Process: Metrobank vs Security Bank
The application experience differs significantly between the two banks, particularly when you apply for Security Bank through Nook.
| Process Step | Metrobank | Security Bank (via Nook) |
|---|---|---|
| Initial Application | Branch visit or online form | Online via Nook platform |
| Rate Confirmation | After document submission | Upfront, verified rates |
| Document Submission | Branch or email | Digital upload |
| Broker / Facilitator Fee | N/A | Free through Nook |
| Typical Approval Timeline | ~30–45 days (approx.) | ~23 days |
| Multi-Bank Comparison | No (single bank only) | Yes (Nook compares multiple banks) |
One of the biggest advantages of applying through Nook is that you can compare Security Bank against other lenders simultaneously — without doing separate applications at each bank. You get one streamlined process, one set of documents, and a free mortgage broker guiding you throughout. For a broader view of how these two banks stack up alongside BDO, see our triple bank comparison of BDO, Metrobank, and Security Bank.
Refinancing: Is It Worth Switching from Metrobank to Security Bank?
If you currently have a Metrobank housing loan and your loan is past its fixed-rate lock-in period, refinancing could be one of the smartest financial moves you make this year. Here's a quick scenario:
- Current loan balance: P4,000,000
- Current rate (Metrobank, estimated): 8.00% p.a.
- Refinanced rate (Security Bank via Nook): 6.75% p.a. (5-yr fixed)
- Remaining term: 15 years
| Scenario | Monthly Payment | Total Interest (15 yrs) |
|---|---|---|
| Stay with Metrobank @ 8.00% | 38,225 | 2,880,500 |
| Refinance to Security Bank @ 6.75% | 35,431 | 2,377,580 |
| Potential Savings | 2,794/month | ~502,920 total |
Saving over 500,000 in interest over 15 years — while paying roughly 2,800 less per month — is a compelling case for refinancing. Nook's service is completely free to you as the borrower, so there's no cost to finding out if you qualify. Note: Refinancing involves closing costs and fees that should be factored into your total savings calculation. Nook can help you compute the full picture.
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Compare My Options →Frequently Asked Questions
What is the current interest rate for Metrobank housing loans in 2026?
Metrobank's housing loan rates are not publicly listed as fixed figures and vary based on your loan amount, term, and borrower profile. Based on publicly available information, standard rates typically range from approximately 7% to 8.5% p.a. for fixed-rate periods. You should contact Metrobank directly or visit a branch to get a current, personalized rate quote, as these figures are subject to change.
What are Security Bank's current housing loan rates?
Security Bank's verified rates available through Nook in 2026 are: 6.99% p.a. for a 1-year fixed term, 6.75% p.a. for a 5-year fixed term, and 7.50% p.a. for home equity loans. These are confirmed partner bank rates — not estimates — and are available to qualified borrowers who apply through Nook at zero broker cost.
Which bank has the lower interest rate — Metrobank or Security Bank?
Based on available data, Security Bank's verified rates through Nook (starting at 6.75% p.a. for a 5-year fixed term) are generally lower than Metrobank's approximate standard rates. However, the rate you personally qualify for depends on your income, credit profile, loan amount, and term. The best way to compare actual offers is to apply through Nook, which lets you access Security Bank's confirmed rates for free.
Can I refinance my Metrobank housing loan with Security Bank?
Yes. Refinancing your Metrobank home loan with Security Bank is possible, provided your loan is past its lock-in period, your property title is clean, and you meet Security Bank's eligibility requirements (minimum monthly income of P50,000, maximum DTI of 40%). Nook can guide you through the entire refinancing process for free — from checking your eligibility to submitting your documents.
How long does it take to get approved for a housing loan at each bank?
Metrobank's typical housing loan approval process takes approximately 30 to 45 days based on general market information, though timelines vary. Security Bank, when applied through Nook, typically completes approval in around 23 days. Nook's streamlined digital process and direct bank relationships help reduce back-and-forth document requests, contributing to faster turnaround times.
Is Security Bank or Metrobank better for OFWs and self-employed borrowers?
Security Bank through Nook explicitly accepts OFWs, seafarers, self-employed individuals, BPO employees, freelancers, and professionals as eligible borrowers. Metrobank also accepts OFWs and self-employed applicants but may have more restrictive requirements for non-traditional employment types like freelancers and BPO workers. If you fall into one of these categories, Security Bank via Nook is generally the more accessible option.
Does Nook charge a fee to apply for a Security Bank housing loan?
No. Nook's mortgage brokering service is completely free for borrowers. Nook is compensated by the bank, not the applicant. You get access to verified partner bank rates, a dedicated mortgage advisor, and a streamlined application process — all at zero cost to you.
What is the minimum loan amount and term for Security Bank housing loans?
Security Bank generally offers housing loans with terms of up to 20–25 years, with loan amounts depending on the property value and your income. The bank requires a minimum monthly income of P50,000. For specific minimum loan amounts and exact term options, Nook's mortgage advisors can give you a precise answer based on your situation at no cost.