Security Bank Home Loan Refinancing in 2026: Everything You Need to Know
If you took out a home loan two or more years ago, there's a strong chance you're paying a higher interest rate than you need to be. Security Bank is one of the more competitive refinancing options in the Philippines right now — and through Nook, Filipino homeowners can apply for a Security Bank refinance completely free of charge.
This guide walks you through Security Bank's current refinancing rates, eligibility requirements, the step-by-step process, and how to figure out whether refinancing with Security Bank (or another bank) makes sense for your situation.
Note: Interest rates are subject to change. Always verify the latest rates directly with the bank or through Nook before making a decision.
Security Bank Home Loan Refinance Rates (2026)
Security Bank offers some of the more attractive fixed-rate options among Philippine banks. Here are their current refinancing rates available through Nook:
- 1-Year Fixed Rate: 6.99% p.a.
- 5-Year Fixed Rate: 6.75% p.a.
- Home Equity Loan Rate: 7.50% p.a.
The 5-year fixed rate of 6.75% is particularly worth noting. Locking in a rate for five years gives you predictable monthly payments and protection against rate increases — a significant advantage if you're currently on a floating rate or your fixed period is about to expire.
For context, many Filipino homeowners with loans taken out before 2022 are currently paying between 7% and 10% per year. Even moving from 8% to 6.75% on a 20-year loan of 4,000,000 pesos can save you tens of thousands of pesos annually.
How Much Could You Actually Save?
Let's look at a real example. Suppose you have an outstanding balance of 4,000,000 pesos with 20 years remaining, and you're currently paying 8.5% interest.
- Current monthly payment (8.5%): approximately 34,930 pesos
- Refinanced monthly payment (6.75% — 5-year fixed): approximately 30,380 pesos
- Monthly savings: approximately 4,550 pesos
- Annual savings: approximately 54,600 pesos
Over the five-year fixed period alone, that's over 273,000 pesos in savings — before you even factor in what happens when you refinance again at the end of the fixed term.
Security Bank Refinancing Requirements
Before applying, it helps to know what Security Bank looks for. Here's a breakdown of their standard eligibility criteria for refinancing:
Income Requirements
- Minimum monthly income: 50,000 pesos
- Maximum debt-to-income ratio (DTI): 40%
The 40% DTI limit means your total monthly debt obligations — including the new home loan payment — should not exceed 40% of your gross monthly income. For example, if you earn 100,000 pesos per month, your total monthly debt payments (including the refinanced loan) should be no more than 40,000 pesos.
Employment Types Accepted
Security Bank accepts a wide range of employment types, which makes them accessible to many Filipinos:
- Private sector employees
- Government employees
- BPO workers
- OFWs and seafarers
- Self-employed individuals
- Professionals (doctors, lawyers, accountants, etc.)
- Freelancers
OFWs and freelancers in particular will appreciate that Security Bank doesn't restrict refinancing to salaried employees only — a policy that excludes many creditworthy Filipinos at other banks.
Loan Purposes Security Bank Accepts
For refinancing, Security Bank covers:
- Refinancing of existing home loans
- Home equity takeout (borrowing against your property's equity)
- Renovation financing
- New construction loans
- Ready for Occupancy (RFO) and pre-selling property purchases
Typical Processing Time
Security Bank typically processes refinance applications in approximately 23 days — faster than many Philippine banks, which can take 30 to 45 days or longer. This is a meaningful advantage if your current loan's fixed rate period is expiring soon and you want to avoid reverting to a higher floating rate.
Documents You'll Need to Prepare
While exact requirements may vary based on your employment type, here are the standard documents for a Security Bank home loan refinance:
For Employed Applicants
- Fully accomplished application form
- Valid government-issued IDs (at least two)
- Certificate of Employment with compensation
- Latest three months' payslips
- Latest ITR (BIR Form 2316) or BIR Form 1701
- Bank statements for the last three months
For Self-Employed / Professionals / Freelancers
- Valid government-issued IDs
- Business registration documents (DTI, SEC, or Mayor's Permit)
- Latest two years' ITR with audited financial statements
- Bank statements for the last six months
- Professional license (if applicable)
For OFWs
- Valid passport and work visa or contract
- Proof of remittance (last three to six months)
- OEC (Overseas Employment Certificate) if applicable
- Bank statements showing remittances
Property Documents
- Photocopy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
- Latest real estate tax receipt and tax declaration
- Vicinity map and photos of the property
- Statement of account from your current lender
The Refinancing Process with Security Bank Through Nook
Applying for a Security Bank refinance through Nook is straightforward and completely free. Here's what the process looks like:
Step 1: Check Your Eligibility
Start by reviewing your current loan details — outstanding balance, remaining term, and current interest rate. Nook can help you calculate whether refinancing makes financial sense before you commit to anything.
Step 2: Apply Through Nook
Submit your application through Nook's platform. Nook acts as your digital mortgage broker, coordinating directly with Security Bank (and other partner banks) on your behalf. You won't pay any broker fees — Nook earns a referral fee from the bank, not from you.
Step 3: Document Submission
Nook will guide you through exactly which documents to prepare based on your employment type and loan details. Having the right documents ready upfront is the single biggest factor in how quickly your application moves forward.
Step 4: Property Appraisal
Security Bank will arrange for an appraisal of your property. This is standard for all home loan refinances and helps the bank confirm the loan-to-value ratio.
Step 5: Loan Offer and Approval
Once your application and appraisal are complete, Security Bank will issue a formal loan offer. With typical processing times of around 23 days, you can expect a decision relatively quickly compared to other Philippine banks.
Step 6: Loan Takeout
Upon accepting the offer, Security Bank pays off your existing lender directly. Your old loan is closed and your new loan with Security Bank begins — ideally at a significantly lower rate.
Is Security Bank the Right Bank for Your Refinance?
Security Bank is a strong choice for many Filipino homeowners — especially those who want a longer fixed-rate period (5 years at 6.75% is very competitive), a relatively fast approval process, and flexibility in employment type.
That said, the right bank depends on your specific situation: your outstanding balance, remaining term, current rate, and income profile. If you're also considering other banks, you might find our comparison of PNB vs Security Bank home loan refinance rates useful — it breaks down how the two banks stack up across key criteria.
Through Nook, you don't have to choose blindly. Nook compares Security Bank against all major Philippine banks and recommends the option that gives you the best deal based on your actual numbers — not just the best advertised rate.
Common Mistakes to Avoid When Refinancing
- Refinancing too late: Many homeowners wait until their fixed rate has already expired and they've been paying the higher floating rate for months. Monitor your loan's repricing date and start the process 60 to 90 days in advance.
- Ignoring fees: Refinancing involves costs — appraisal fees, documentary stamp tax, registration fees, and sometimes a prepayment penalty from your current lender. Make sure your savings outweigh these costs. As a rough guide, if you can recover the costs within two years through monthly savings, refinancing is usually worth it.
- Only comparing rates, not total cost: A slightly lower rate with higher fees may not always be better than a slightly higher rate with lower fees. Compare the total cost of the loan, not just the headline rate.
- Not knowing your current loan balance: Get an updated statement of account from your current lender before applying. This is required by Security Bank and will determine your new loan amount.
Home Equity Refinancing with Security Bank
Beyond a straight refinance, Security Bank also offers home equity loans at 7.50% p.a. This is for homeowners who want to borrow against the equity they've built up in their property — for home renovation, business capital, education expenses, or other needs.
If your property has appreciated significantly since you bought it, or if you've been paying down your loan for many years, you may have substantial equity available. Nook can help you calculate how much you could potentially access through a Security Bank home equity loan.
For a broader look at Security Bank's full home loan product lineup — including purchase loans and construction financing — see our overview of Security Bank housing loan rates and how to apply.
Ready to Find Out If You Can Save?
The best way to know if Security Bank refinancing makes sense for you is to run the numbers with your actual loan details. Nook makes this easy — and free. In just a few minutes, you can see your estimated monthly savings, compare Security Bank against other Philippine banks, and start an application if you decide to move forward.
There's no obligation and no cost to you. Nook is the Philippines' first digital mortgage broker, and our service to borrowers is 100% free.