Use our free calculator to compute your Security Bank monthly amortization — then discover if refinancing could cut your payments by thousands every month.
SAMPLE SAVINGS AT 5.99% VS 8.50%
No commitment. No credit check. Just your numbers.
Why this matters
Security Bank is one of the Philippines' most competitive home loan providers, offering a 1-year fixed rate of 6.99% and a popular 5-year fixed rate of 6.75% — among the sharpest in the market. If you took out your housing loan several years ago at rates between 8% and 10%, a Security Bank home loan refinance could meaningfully reduce your monthly amortization and free up significant cash over the remaining life of your loan. On a 3,000,000 peso loan with a 20-year term, even dropping your rate by 2 percentage points translates to over 4,000 pesos saved every single month.
Calculating your exact amortization is straightforward: your monthly payment depends on three variables — your outstanding loan balance, your interest rate, and your remaining term. The standard amortization formula ensures each payment covers both interest and principal, so your balance reduces to zero at the end of the term. Security Bank's minimum qualifying income of 50,000 pesos per month and acceptance of private employees, government workers, OFWs, self-employed professionals, and freelancers makes it accessible to a wide range of Filipino borrowers. For a full breakdown of what you'll need to qualify, see the Security Bank housing loan requirements guide.
Through Nook, applying to refinance with Security Bank costs you absolutely nothing — Nook's digital mortgage broker service is 100% free to borrowers. Nook handles the comparison, paperwork coordination, and bank submission on your behalf, so you can focus on what matters: locking in a lower rate before your current fixed period expires. Typical approval through Security Bank takes around 23 days, and with Nook's guided process, you'll know exactly what to expect at every step. Please note that interest rates are subject to change — always verify current rates directly with Security Bank or through Nook before making a financial decision.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
Your monthly amortization is calculated using the standard loan amortization formula, which factors in your outstanding loan balance, your annual interest rate (divided by 12 for the monthly rate), and your remaining loan term in months. For example, a 3,000,000 peso loan at Security Bank's 5-year fixed rate of 6.75% over 20 years results in a monthly payment of approximately 22,727 pesos. Nook's free calculator does this math instantly for any combination of amount, rate, and term.
Security Bank currently offers a 1-year fixed rate of 6.99% per annum and a 5-year fixed rate of 6.75% per annum for housing loans, with a Home Equity rate of 7.50%. These are among the most competitive rates available from a major Philippine bank. Interest rates are subject to change, so it's best to confirm the latest rates with Security Bank directly or through Nook before applying.
Yes — Security Bank is a Nook partner bank and actively accepts refinancing applications, whether you're moving from another bank or repricing an existing Security Bank loan. Nook's service is completely free to borrowers and handles the entire application process on your behalf. Typical approval takes around 23 days, and you'll need a minimum monthly income of 50,000 pesos to qualify.
Security Bank supports a wide range of housing loan purposes including refinancing, home equity, new construction, pre-selling, ready-for-occupancy (RFO) units, renovation, reselling, and foreclosed properties. This makes it a flexible option whether you're buying a new home, tapping equity from an existing one, or looking to lower your current mortgage rate. Check the Security Bank housing loan interest rates guide for details on which purpose suits your situation.
The savings depend on how much your rate drops and how much of your loan remains. On a 3,000,000 peso balance with 20 years remaining, moving from 8.50% to 5.99% saves approximately 4,471 pesos per month — that's over 53,000 pesos per year and more than 800,000 pesos over the full loan term. Even a 1–2% rate reduction on a mid-sized loan produces life-changing savings, which is why refinancing is one of the most impactful financial moves a Filipino homeowner can make.
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