RCBC vs Security Bank

RCBC vs Security Bank Home Loan: At a Glance

Choosing between RCBC and Security Bank for your home loan or refinance comes down to more than just headline interest rates. Below we compare both banks across the factors that matter most: fixed rates, loanable amounts, approval speed, eligible borrowers, and supported loan purposes. Both banks are Nook partner banks, meaning you can apply to either — or both — through Nook at zero cost to you.

Note: Interest rates are subject to change. Always verify current rates with the bank or through Nook before making a decision.

Interest Rate Comparison

On a 1-year fixed rate, the difference between RCBC (7.00%) and Security Bank (6.99%) is razor-thin — just 0.01 percentage points. In practice, this is negligible on most loan amounts. However, Security Bank's 5-year fixed rate of 6.75% is where the real advantage emerges. Locking in a lower rate for five years provides more long-term certainty and savings, especially for borrowers who want to avoid frequent repricing.

To illustrate: on a 3,000,000 peso loan over 20 years, refinancing from a typical bank rate of 8.50% down to Security Bank's 5-year fixed rate of 6.75% could reduce your monthly payment by approximately 3,200 pesos — saving you around 192,000 pesos over the 5-year fixed period alone.

For home equity loans, Security Bank's rate of 7.50% also beats RCBC's 8.00%, a difference of 0.50 percentage points that adds up significantly over large loan amounts and long terms.

If you're researching how these rates stack up in more detail, see our Security Bank vs RCBC housing loan rates, promos, and requirements comparison for an extended breakdown.

Eligible Borrowers: Who Qualifies?

Both banks require a minimum monthly income of 50,000 pesos, but Security Bank accepts a wider range of employment types — a significant advantage for many Filipino borrowers.

If you are a government employee, BPO worker, or freelancer, Security Bank is the clear choice — RCBC does not list these as eligible employment types for home loans. For OFWs, seafarers, self-employed individuals, and licensed professionals, both banks are viable options, though Security Bank's higher DTI ceiling of 40% (versus RCBC's 30%) means you may qualify for a larger loan amount relative to your income.

Debt-to-Income Ratio: A Hidden but Critical Difference

The maximum debt-to-income (DTI) ratio determines how large a loan you can qualify for based on your income. RCBC caps this at 30%, while Security Bank allows up to 40%. This 10-percentage-point gap can meaningfully affect your maximum loanable amount.

Example: If your monthly income is 80,000 pesos and you have existing monthly debt obligations of 10,000 pesos:

• Under RCBC's 30% DTI cap: Your maximum total monthly debt (including the new home loan payment) is 24,000 pesos — meaning the new loan payment cannot exceed 14,000 pesos per month.
• Under Security Bank's 40% DTI cap: Your maximum total monthly debt is 32,000 pesos — meaning the new loan payment cannot exceed 22,000 pesos per month.

In this scenario, Security Bank may approve a significantly larger loan amount. This is especially relevant for refinancing borrowers who want to consolidate other debts or borrow against their home equity.

Supported Loan Purposes

Both banks support refinancing, reselling, pre-selling, ready-for-occupancy (RFO) purchases, and home equity loans. Security Bank additionally supports new construction, renovation loans, and foreclosed property purchases — giving homeowners more flexibility throughout the property lifecycle.

For borrowers planning a renovation or building a new home from the ground up, Security Bank is the only option of the two. For standard purchase and refinance transactions, both banks are well-equipped.

Approval Speed: 23 Days vs 49 Days

Security Bank's typical approval timeline of 23 days is more than twice as fast as RCBC's 49 days. In competitive real estate markets — where sellers may not wait — or for refinance borrowers eager to start saving on interest, this difference matters. Faster approval also means you spend less time in limbo gathering documents and following up.

When you apply through Nook, our team helps you prepare your documents correctly the first time, which can further reduce delays regardless of which bank you choose.

Applying Through Nook: Free for Both Banks

Whether you choose RCBC or Security Bank, you can apply through Nook at no cost. Nook is the Philippines' first digital mortgage broker, and our service is 100% free to borrowers. We submit your application to multiple partner banks simultaneously, so you can compare actual offers — not just advertised rates — before committing.

The best refinance rate currently available through Nook is 5.99% p.a. Depending on your profile and property, you may qualify for rates even lower than the standard published rates shown in this comparison. See how RCBC and Security Bank's home loan rates compare in more detail, or start your free application now to get personalized offers from both banks.