RCBC vs Security Bank

RCBC vs Security Bank Home Loan: At a Glance

Both RCBC (Rizal Commercial Banking Corporation) and Security Bank are Nook partner banks, which means you can apply to either — or both — completely free through Nook's digital mortgage broker platform. But while they share similar minimum income requirements, the differences in rates, approval speed, and loan flexibility are significant enough to matter over a 20-year loan term.

The table below summarises the key figures side by side. Note that interest rates are subject to change — always verify current rates with your Nook advisor or directly with the bank before committing.

Interest Rate Comparison: Fixed Periods and What They Mean for You

The headline rates tell an important story. At the 1-year fixed level, Security Bank (6.99%) and RCBC (7.00%) are almost identical — a difference of just 0.01 percentage point. Over a short fixing period, this gap is negligible.

Where Security Bank pulls clearly ahead is in its 5-year fixed option at 6.75%. RCBC does not publish an equivalent 5-year fixed product through Nook. For borrowers who want rate certainty for a longer period — shielding themselves from repricing risk for five years — Security Bank is the only option between the two.

On home equity loans, the gap widens further: Security Bank charges 7.50% versus RCBC's 8.00%. That 0.50 percentage point difference may sound small, but on a 3,000,000-peso loan over 15 years, it translates to meaningful savings each month.

Monthly Payment Comparison: 3,000,000-Peso Loan Over 20 Years

Calculations are illustrative, based on a 3,000,000-peso loan at a constant rate over 20 years. Actual payments will vary based on repricing, fees, and bank-specific terms.

The 5-year fixed rate from Security Bank saves approximately 112,000 pesos in interest versus RCBC's 1-year fixed rate over the life of a 20-year loan — assuming rates held constant, which is a conservative scenario. In practice, if rates rise at repricing, the savings from locking in at 6.75% for five years could be even greater.

Approval Speed: 23 Days vs 49 Days

RCBC's typical approval timeline of 49 days is more than double Security Bank's 23 days. This matters for several reasons:

• Refinancing timing: If you're switching from a high-rate loan, every extra day at your old rate costs money. A 26-day difference on a 5,000,000-peso loan at 9% versus 6.99% saves roughly 28,000 pesos in interest during that waiting period alone.
• Property transactions: If you're buying a ready-for-occupancy unit and the seller has a deadline, a faster-approving bank reduces the risk of losing your reservation.
• Peace of mind: Waiting seven weeks for a credit decision is stressful. Security Bank's faster turnaround keeps the process moving.

That said, approval timelines can vary based on document completeness, property type, and individual borrower profile. Working with Nook helps ensure your application is submitted correctly the first time, which minimises back-and-forth delays regardless of which bank you choose.

Debt-to-Income Ratio: Who Can Borrow More?

RCBC applies a maximum debt-to-income (DTI) ratio of 30%, meaning your total monthly debt obligations — including the new mortgage — cannot exceed 30% of your gross monthly income. Security Bank allows up to 40% DTI.

Here's what that means in practice. Suppose you earn 80,000 pesos per month:

• At RCBC's 30% DTI cap: maximum total monthly debt = 24,000 pesos
• At Security Bank's 40% DTI cap: maximum total monthly debt = 32,000 pesos

If you already have a car loan or other credit obligations, RCBC's stricter DTI limit could result in a lower approved loan amount — or an outright decline. Security Bank's more generous ceiling gives borrowers with existing commitments more room to qualify for the loan size they need.

This is one of the most underappreciated differences between the two banks, and it can be the deciding factor for borrowers who are not debt-free going into their application.

Eligible Borrower Profiles: Who Can Apply?

Both banks require a minimum monthly income of 50,000 pesos, but they differ in which employment types they accept.

Security Bank accepts a notably broader range of employment types. Government employees, BPO workers, and freelancers — groups that make up a significant portion of the Philippine workforce — are eligible at Security Bank but not at RCBC. If you fall into any of these categories, Security Bank may be your only option between the two.

Loan Purposes: What Can You Use the Loan For?

Both banks cover the most common home loan use cases, but Security Bank supports a wider set of purposes.

If you're planning to build a new home or renovate an existing one, Security Bank is the only option between the two. RCBC's product range does not cover construction or renovation loans through the Nook platform.

For a deeper look at how these two banks compare specifically on refinancing terms, see our complete Security Bank vs RCBC housing loan comparison, which covers repricing terms and prepayment conditions in more detail.

Refinancing with RCBC or Security Bank Through Nook

If you're currently paying 8%, 9%, or more on a home loan from any Philippine bank, refinancing to either RCBC or Security Bank could deliver significant savings. The best refinance rate currently available through Nook is 5.99% p.a. — well below what most Filipino homeowners are paying today.

Here's a quick illustration of what refinancing from 9% to 6.75% (Security Bank's 5-year fixed) could save on a 4,000,000-peso outstanding balance with 20 years remaining:

• Monthly payment at 9.00%: approximately 35,989 pesos
• Monthly payment at 6.75%: approximately 30,389 pesos
• Monthly savings: approximately 5,600 pesos
• Annual savings: approximately 67,200 pesos
• 10-year savings: approximately 672,000 pesos

Nook's service is completely free to borrowers. Our advisors will help you compare offers from RCBC, Security Bank, and other partner banks — then guide you through the full application process at no cost. You can also explore how these banks stack up in our RCBC vs Security Bank rate breakdown for additional context on repricing and long-term cost.