Metrobank vs Security Bank

Metrobank vs Security Bank Housing Loan: Quick Snapshot

Before diving into the details, here's a high-level look at how these two banks stack up on the metrics that matter most to Filipino homebuyers and refinancers.

*Metrobank rates and figures are approximate, based on publicly available information as of 2025, and are subject to change without notice. Always verify directly with Metrobank before making any financial decisions. Security Bank rates are verified Nook partner rates.

Interest Rate Comparison: The Numbers That Matter Most

For most borrowers, the interest rate is the single biggest factor in a housing loan decision — and small differences compound dramatically over a 15–25 year term. Let's break down what each bank is offering.

Security Bank (Verified Nook Partner Rates)

• 1-Year Fixed: 6.99% p.a.
• 5-Year Fixed: 6.75% p.a.
• Home Equity Loan: 7.50% p.a.

These rates are confirmed and current as provided directly to Nook as an authorized broker partner. When you apply through Nook, you benefit from these verified rates with no broker fees charged to you.

Metrobank (Approximate Market Rates)

Metrobank is one of the Philippines' largest banks and a well-established housing loan provider. However, Metrobank is not a Nook partner bank, so we cannot confirm their current promotional rates with the same precision. Based on publicly available information, Metrobank's fixed housing loan rates have typically ranged from around 7.00% to 8.50% p.a. depending on fixing period, loan amount, and borrower profile. These figures are approximate and subject to change.

Real-World Savings Illustration

To show how much a rate difference can matter, consider a ₱3,000,000 loan on a 20-year term:

The difference between a 7.50% rate and the best Nook rate of 5.99% amounts to roughly ₱624,000 in total interest savings over 20 years — on a single ₱3,000,000 loan. For larger loan amounts, the savings multiply further.

Note: Monthly payments and total interest figures above are rounded estimates for illustration purposes only and do not account for processing fees, insurance, or other costs.

Loan Products and Purposes: What Can You Use the Loan For?

Both banks offer housing loans for a range of purposes, but Security Bank's product coverage is notably broader — particularly for borrowers looking to refinance or access home equity.

*Metrobank product availability is based on general market knowledge and may vary. Confirm directly with Metrobank for your specific situation.

For borrowers specifically looking to refinance their existing home loan, Security Bank's clear refinancing product with a verified 6.75% 5-year fixed rate is a strong option. If you're comparing refinancing options more broadly, our guide on Metrobank vs Security Bank refinance rates goes deeper on that specific use case.

Eligibility and Borrower Profile

Knowing whether you qualify is just as important as knowing the rate. Here's how each bank approaches eligibility.

Security Bank Eligibility (Verified)

• Minimum Monthly Income: ₱50,000
• Maximum Debt-to-Income (DTI) Ratio: 40%
• Employment Types Accepted: Private employed, Government employees, BPO workers, OFW/Seafarers, Self-Employed, Licensed Professionals, Freelancers

Security Bank's openness to OFWs, freelancers, and BPO workers makes it one of the more inclusive major banks for housing loans in the Philippines — a significant advantage for borrowers who don't fit the traditional employed-in-a-large-corporation profile.

Metrobank Eligibility (Approximate)

Metrobank generally requires a minimum monthly income in the ₱50,000 range for housing loans, with a DTI ratio threshold of approximately 40%. They accept private employees, self-employed individuals, and professionals. Specific requirements for OFWs and freelancers may vary — it's advisable to contact Metrobank directly to confirm eligibility for non-traditional employment types.

Application Process and Approval Timeline

The home loan process in the Philippines can be notoriously slow — but there's significant variation between banks.

Security Bank's ~23-day typical approval timeline is a genuine competitive advantage in the Philippine market, where many banks take 30–60 days. When you apply through Nook, our team handles document preparation, follow-ups, and bank coordination — at no cost to you.

Why Consider Applying Through Nook Instead of Going Direct?

Whether you're leaning toward Security Bank or still evaluating Metrobank, there's a strong case for letting Nook handle your application:

• Access to rates as low as 5.99% p.a. — lower than either bank's standard advertised rates
• 100% free service — Nook is paid by the banks, never by the borrower
• Verified, current rates — no surprises when you reach the offer stage
• Multi-bank comparison — Nook checks multiple partner banks to find your best fit, not just one
• Expert guidance — especially useful if you're refinancing for the first time

Most Filipino homeowners paying between 7% and 10% on their existing home loan are eligible to refinance to a significantly lower rate. If your current rate is above 6.75%, there's a good chance Nook can save you money.

For a broader three-way comparison that includes BDO alongside these two banks, see our BDO vs Metrobank vs Security Bank home loan rates comparison.

Fees and Other Costs to Consider

Beyond the interest rate, home loans in the Philippines typically involve several fees. While exact fee structures change and should be verified directly with each bank, common costs include:

• Processing/Application Fee: Typically ₱3,000–₱10,000
• Appraisal Fee: Typically ₱3,500–₱6,000 depending on property location and size
• Mortgage Redemption Insurance (MRI): Required by most Philippine banks, calculated based on loan balance and age
• Fire Insurance: Required annually for the property
• Notarial and Registration Fees: Varies by property value and location

When comparing total cost of borrowing, always factor in these fees alongside the interest rate. Nook's team can help you understand the full cost picture before you commit to any bank.

All interest rates mentioned on this page are subject to change. Security Bank rates are verified as of the time of publication but may be updated. Metrobank rates are approximate based on publicly available information. Always confirm current rates directly with the relevant bank or through Nook before making any financial decision.