Security Bank vs BDO

Security Bank vs BDO vs BPI: 2026 Home Loan Rate Comparison

If you've been searching for the best home loan rate in the Philippines this year, you've almost certainly come across Security Bank, BDO, and BPI. These three banks dominate the Philippine mortgage market — and for good reason. All three are Nook partner banks, meaning you can compare and apply across all of them for free through Nook's platform. Let's break down exactly how they stack up.

Note: All interest rates shown are subject to change. Always verify current rates with your bank or through Nook before making a financial decision.

Interest Rate Comparison Table

BDO leads on headline rate with its 6.00% 1-year fixed — a full 0.99 percentage points below Security Bank's equivalent. That gap is more significant than it sounds when applied to a large loan balance over many years. BPI's 5-year fixed rate of 6.50% is notably competitive for borrowers who want medium-term rate certainty without paying Security Bank's 7.75% premium for the same lock-in period.

Monthly Payment Comparison: ₱3,000,000 Loan Over 20 Years

To make these rate differences tangible, here's what a ₱3,000,000 home loan would cost per month under each bank's 1-year fixed rate, assuming a 20-year term:

Over a full year, choosing Security Bank over BDO on a ₱3,000,000 loan would cost approximately 18,720 more in interest payments during the first fixed-rate period. That's real money — and it highlights why rate shopping across banks before committing is so important. Nook lets you do exactly that, at no cost to you.

For a deeper dive into how these three banks compare across a wider range of loan scenarios, see our full BPI vs BDO vs Security Bank housing loan rate comparison for 2026.

Eligibility & Approval: Who Qualifies and How Fast?

Key takeaways:

• Security Bank is the fastest to approve — 23 days on average — and uniquely accepts freelancers, making it the top choice for gig economy workers and independent contractors. Despite its higher rate, the speed advantage is real and meaningful for time-sensitive purchases.
• BDO matches Security Bank's income floor at P50,000/month but takes about 30 days to approve. The lower rate more than compensates for the extra week of waiting in most scenarios.
• BPI has the lowest income threshold at P40,000/month, opening the door to a broader range of borrowers. The trade-off is the longest approval timeline at 52 days — plan ahead if BPI is your preferred option.

Loan Purpose Coverage

All three banks support a comprehensive range of loan purposes, but there are subtle differences worth noting:

Coverage is virtually identical across all three banks for standard purposes. If you are purchasing a foreclosed property or a pre-selling unit, all three banks will accommodate you — an important detail since not all Philippine banks finance these property types.

Who Should Choose Security Bank?

Security Bank's 6.99% 1-year fixed rate is the highest among these three, but dismissing it outright would be a mistake. Security Bank makes the most sense if:

• You are a freelancer or independent contractor — Security Bank is the only one of the three that explicitly accepts this employment type.
• You need fast approval — 23 days is genuinely fast for a Philippine home loan. If you have a deadline (e.g., a seller with a tight timeline), Security Bank's speed could save the deal.
• You want multi-period fixed-rate options — Security Bank offers 1-year, 3-year, and 5-year fixed periods, giving you more granular control over your repricing risk.
• You are taking a home equity loan and want a bank with a strong track record in cash-out refinancing.

If none of these factors apply to your situation, BDO's lower rate will likely deliver better long-term value.

Who Should Choose BDO?

BDO is the straightforward winner for most borrowers purely on rate. Choose BDO if:

• You want the lowest available 1-year fixed rate (6.00% p.a.) among these three banks.
• You earn at least P50,000/month and meet the standard income documentation requirements.
• You are refinancing your existing home loan to reduce monthly payments — BDO's rate combined with Nook's free refinancing service is one of the most cost-efficient paths available in the Philippine market right now.
• You have a moderate timeline — 30 days for approval is reasonable for most purchase or refinancing scenarios.

Who Should Choose BPI?

BPI Family Savings Bank makes the most sense if:

• Your monthly income is between P40,000 and P50,000 — BPI's lower income floor makes it the only option among these three that you qualify for.
• You want a 5-year fixed rate at a competitive 6.50% p.a. — significantly lower than Security Bank's 7.75% for the same lock-in period.
• You are comfortable with a longer approval timeline (52 days) and are not working against a tight deadline.

For a detailed side-by-side breakdown of monthly payment scenarios across all three banks at different loan amounts, visit our BPI, BDO, and Security Bank housing loan rates side-by-side comparison.

Refinancing with Nook: Apply Across All Three Banks for Free

One of the most common — and costly — mistakes Filipino homeowners make is applying to only one bank. Banks reprice home loans every 1 to 5 years, which means your current rate may be significantly higher than what's available today. Many homeowners are still paying 7% to 10% on loans taken out several years ago.

Nook is the Philippines' first digital mortgage broker. We help you compare Security Bank, BDO, BPI, and other partner banks in one place — and submit your application to the best-fit bank on your behalf. Our service is 100% free to borrowers. Banks pay us a referral fee; you pay nothing extra.

If you are currently paying above 6.99% on your home loan, refinancing through Nook could reduce your monthly payment immediately. Even moving from 8% to 6.00% on a ₱3,000,000 loan over 20 years saves approximately 2,500/month — or about 30,000 per year.