SB Finance vs Security Bank: Home Loan Overview
SB Finance Corporation is the consumer lending arm of Security Bank Group, primarily focused on personal loans, auto loans, and select home financing products. Security Bank itself — the parent company — operates a dedicated home loan division offering a full suite of mortgage products including refinancing, home equity, new construction, and pre-selling purchases.
For Filipino homeowners comparing these two options, it's important to understand that Security Bank's home loan division is generally the more appropriate product for mortgage refinancing and larger property purchases, while SB Finance serves a different segment of the consumer credit market. This page compares both to help you make an informed decision.
Interest Rate Comparison
| Feature | SB Finance | Security Bank |
|---|---|---|
| 1-Year Fixed Rate | Varies; not a primary mortgage lender | 6.99% p.a. |
| 5-Year Fixed Rate | Not standardly available | 6.75% p.a. |
| Home Equity Loan Rate | Not applicable | 7.50% p.a. |
| Refinancing Available? | Limited | Yes — full refinancing product |
Security Bank's 5-year fixed rate of 6.75% p.a. is one of the lowest available in the Philippine market today. If you are currently paying 8%, 9%, or even 10% with your existing lender, refinancing to Security Bank through Nook could result in substantial monthly savings. Interest rates are subject to change — always verify current rates before applying.
Monthly Payment Illustration
To show the real-world impact of switching to Security Bank's rates, here is a sample calculation for a 3,000,000 peso home loan over a 20-year term:
| Scenario | Interest Rate | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| Typical existing loan | 9.00% p.a. | ~26,992 | ~3,478,080 |
| Security Bank (5-yr fixed) | 6.75% p.a. | ~22,727 | ~2,454,480 |
| Monthly Savings | — | ~4,265 | ~1,023,600 |
That's over 1,023,600 pesos in potential interest savings over the life of the loan — simply by refinancing to a lower rate. Nook's service is 100% free to the borrower, so there is no cost to explore your options.
Eligibility Requirements
| Criteria | SB Finance | Security Bank |
|---|---|---|
| Minimum Monthly Income | Varies by product | 50,000 |
| Employment Types Accepted | Primarily employed borrowers | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer |
| Maximum Debt-to-Income Ratio | Not publicly stated | 40% |
| Typical Approval Timeline | Varies | ~23 days |
Security Bank's inclusive approach to borrower types is a significant advantage. Whether you are an OFW sending remittances home, a freelancer with documented income, or a self-employed professional, Security Bank has a pathway for you. If you're curious how Security Bank stacks up against other lenders, see our Landbank vs Security Bank home loan comparison for another angle.
Loan Purposes Supported
| Loan Purpose | SB Finance | Security Bank |
|---|---|---|
| Refinancing | Limited | ✓ Yes |
| Home Equity | ✗ | ✓ Yes |
| New Construction | ✗ | ✓ Yes |
| Pre-Selling | ✗ | ✓ Yes |
| Ready for Occupancy (RFO) | Limited | ✓ Yes |
| Renovation | ✗ | ✓ Yes |
| Foreclosed Properties | ✗ | ✓ Yes |
| Reselling | Limited | ✓ Yes |
Security Bank supports the full spectrum of home loan purposes, making it a versatile choice whether you are buying, building, renovating, or refinancing. SB Finance, by contrast, has a more limited mortgage product scope and is better known for unsecured consumer credit.
Why Refinance Through Nook?
Nook is the Philippines' first digital mortgage broker. We work with Security Bank and other leading Philippine lenders to find you the best refinance rate available — and our service is completely free to the borrower. We are paid by the bank, not by you.
Instead of approaching banks one by one, filling out multiple forms, and waiting weeks for responses, Nook compares offers across our partner panel in one streamlined process. If Security Bank's rates fit your profile, we'll help you apply with full documentation support. If another lender is a better fit, we'll tell you that too.
The best refinance rate currently available through Nook is 5.99% p.a. — well below what most Filipino homeowners are paying today. You can also explore how Security Bank compares to other lenders such as in our Asia United Bank vs Security Bank comparison to see the full picture.
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Compare My Options →Frequently Asked Questions
Is SB Finance the same as Security Bank for home loans?
No. SB Finance Corporation is a consumer finance subsidiary of the Security Bank Group, but it operates as a separate entity focused primarily on personal loans and auto loans. Security Bank's dedicated home loan division is the correct product for mortgage refinancing, home purchases, and home equity borrowing. If you are comparing home loan options, you should be looking at Security Bank's mortgage products, not SB Finance.
What are Security Bank's current home loan interest rates?
Security Bank currently offers a 1-year fixed rate of 6.99% p.a. and a 5-year fixed rate of 6.75% p.a. for home loan refinancing and purchases. Their home equity loan rate is 7.50% p.a. Note that interest rates are subject to change — always verify the current rates with Security Bank or through Nook before submitting your application.
Who is eligible for a Security Bank home loan?
Security Bank accepts a wide range of borrower types including private employees, government workers, BPO employees, OFWs and seafarers, self-employed individuals, professionals, and freelancers. The minimum monthly income requirement is 50,000 pesos, and the maximum debt-to-income ratio is 40%. Approval typically takes around 23 days.
How much can I save by refinancing to Security Bank?
The savings depend on your current rate, loan balance, and remaining term. As an example, if you have a 3,000,000 peso loan at 9% over 20 years and refinance to Security Bank's 5-year fixed rate of 6.75%, you could save approximately 4,265 pesos per month — totaling over 1,023,600 pesos in interest over the life of the loan. Use Nook's free refinancing service to get a personalized calculation for your situation.
Does Nook charge a fee to compare Security Bank home loan rates?
No. Nook's service is 100% free to the borrower. As a digital mortgage broker, Nook is compensated by the lender when a loan is successfully placed — not by you. You can compare rates, check your eligibility, and receive full application support without paying anything.
Can I refinance from SB Finance to Security Bank?
If you currently have a home loan or mortgage product through SB Finance Corporation, it is worth exploring whether refinancing to Security Bank's dedicated mortgage division makes sense for your situation. Nook can help you assess your current loan terms, compare them against Security Bank's available rates, and guide you through the refinancing process at no cost.
What loan purposes does Security Bank's home loan cover?
Security Bank supports a comprehensive range of loan purposes: refinancing, home equity, new construction, pre-selling, ready for occupancy (RFO) properties, renovation, foreclosed property purchases, and reselling. This makes Security Bank one of the more versatile mortgage lenders in the Philippines.