Interest Rate Comparison
The table below shows the current advertised home loan rates for Security Bank and BDO. Both are Nook partner banks, so you can apply to either — or both — at no cost.
| Fixing Period | Security Bank | BDO |
|---|---|---|
| 1-Year Fixed | 6.99% p.a. | 6.00% p.a. |
| 5-Year Fixed | 6.75% p.a. | Not published |
| Home Equity Rate | 7.50% p.a. | 6.00% p.a. |
Interest rates are subject to change. Always verify current rates with the bank or through your Nook advisor before committing.
BDO's 1-year fixed rate of 6.00% p.a. is among the most competitive in the market today — matching Nook's best available refinance rate. Security Bank's standout offering is its 5-year fixed rate of 6.75% p.a., which is rare in the Philippine market and valuable for borrowers who want stability over a longer horizon without the full cost of a long lock-in.
Monthly Payment Comparison
To illustrate the real-world difference, here's how monthly amortizations compare on a 3,000,000 peso loan over 20 years at each bank's 1-year fixed rate:
| Scenario | Security Bank (6.99%) | BDO (6.00%) |
|---|---|---|
| Monthly Payment | 23,253 | 21,491 |
| Annual Payment | 279,036 | 257,892 |
| Total Interest (20 yrs) | 2,580,720 | 2,157,840 |
At the 1-year fixed rate, BDO saves you approximately 1,762 pesos per month and around 422,880 pesos in total interest over a 20-year term on a 3,000,000 peso loan — a meaningful difference. Of course, rates will reprice after the fixed period ends, so your actual savings will depend on future rate movements.
If you're considering a 5-year fixed term for peace of mind, Security Bank's 6.75% option produces a monthly payment of approximately 22,980 pesos — only 1,489 pesos more than BDO's 1-year rate, in exchange for five years of rate certainty.
Approval Speed & Processing
| Security Bank | BDO | |
|---|---|---|
| Typical Approval Time | 23 days | 30 days |
Security Bank is notably faster, with a typical approval turnaround of 23 days compared to BDO's 30 days. If you're refinancing to beat a repricing deadline or racing to close on a property, Security Bank's faster processing can make a real difference. BDO's 30-day timeline is still reasonable by Philippine bank standards, but it's worth building in the extra buffer.
Eligibility & Qualifying Requirements
| Requirement | Security Bank | BDO |
|---|---|---|
| Minimum Monthly Income | 50,000 | 50,000 |
| Maximum Debt-to-Income Ratio | 40% | 40% |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional |
Both banks require a minimum monthly income of 50,000 pesos and apply a maximum debt-to-income (DTI) ratio of 40%. One notable difference: Security Bank explicitly accepts freelancers, which BDO does not list as a qualifying employment type. If you earn income through freelance or project-based work, Security Bank may be the more accessible option.
Loan Purposes Covered
| Loan Purpose | Security Bank | BDO |
|---|---|---|
| Refinancing | ✓ | ✓ |
| Home Equity / Cash-Out | ✓ | ✓ |
| Ready For Occupancy (RFO) | ✓ | ✓ |
| Pre-Selling | ✓ | ✓ |
| New Construction | ✓ | ✓ |
| Renovation | ✓ | ✓ |
| Reselling | ✓ | ✓ |
| Foreclosed Properties | ✓ | ✓ |
Both banks cover the full range of home loan purposes — from standard refinancing and purchase to home equity, renovation, and foreclosed property acquisition. There is no meaningful difference in loan purpose coverage between the two.
Which Bank Is Better for Refinancing?
If your goal is to lower your monthly amortization, BDO's 6.00% p.a. rate is hard to beat — it's the lowest 1-year fixed rate currently available through Nook. Most Filipino homeowners are still paying between 7% and 10% on their existing home loans, so switching to BDO at 6.00% could cut your monthly payment significantly.
If you want to lock in your rate for longer and avoid repricing anxiety, Security Bank's 5-year fixed at 6.75% p.a. is a strong alternative. You pay a small premium over BDO's 1-year rate, but you won't need to worry about where rates go for the next five years.
For a deeper look at how these two banks compare specifically on refinancing, see our BDO vs Security Bank refinance rates 2026 comparison or explore the BDO vs Security Bank home loan takeout rates breakdown if you're considering a bank transfer.
Through Nook, you don't have to choose upfront. Submit one free application and Nook will approach both banks on your behalf, then present you with the actual offers so you can make a data-driven decision.
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Compare My Options →Frequently Asked Questions
What is the current home loan rate at Security Bank vs BDO?
As of the latest data available through Nook, Security Bank's 1-year fixed home loan rate is 6.99% p.a., while BDO's 1-year fixed rate is 6.00% p.a. Security Bank also offers a 5-year fixed rate of 6.75% p.a., which BDO does not publicly advertise. Both rates are subject to change — verify the latest figures with your Nook advisor before applying.
Which bank approves home loans faster — Security Bank or BDO?
Security Bank is faster, with a typical approval turnaround of 23 days. BDO typically takes around 30 days. If you're working against a repricing deadline or a purchase timeline, Security Bank's speed advantage may be a deciding factor.
Can freelancers apply for a home loan at BDO or Security Bank?
Security Bank explicitly accepts freelancers as a qualifying employment type. BDO's listed employment types include private employees, government workers, BPO employees, OFWs and seafarers, self-employed individuals, and professionals — but freelancers are not listed separately. If you earn freelance income, Security Bank may be the more straightforward option, though your Nook advisor can help assess your eligibility at both banks.
What is the minimum income to qualify for a home loan at Security Bank or BDO?
Both Security Bank and BDO require a minimum monthly income of 50,000 pesos. Both also apply a maximum debt-to-income ratio of 40%, meaning your total monthly debt obligations (including the new home loan payment) should not exceed 40% of your gross monthly income.
How much can I save by refinancing from 8% to BDO's 6.00% rate?
On a 3,000,000 peso loan with 20 years remaining, refinancing from 8% to 6.00% reduces your monthly payment from approximately 25,093 pesos to 21,491 pesos — a saving of about 3,602 pesos per month, or 43,224 pesos per year. Over the full term, total interest savings would be approximately 864,480 pesos. Actual savings depend on your remaining balance, term, and any fees associated with refinancing.
Is it free to apply through Nook for a Security Bank or BDO home loan?
Yes. Nook's service is completely free for borrowers. Nook is compensated directly by the banks, not by you. You can apply to both Security Bank and BDO simultaneously through Nook, compare the actual offers you receive, and choose the one that suits you best — with no obligation to proceed.
What is a 5-year fixed home loan rate and why does it matter?
A 5-year fixed rate means your interest rate is locked in for five years before it reprices to the bank's prevailing rate. Security Bank currently offers a 5-year fixed rate of 6.75% p.a. This is useful if you want predictable monthly payments and protection against rate increases over the medium term. BDO's standard offering is a 1-year fixed rate at 6.00%, which is lower initially but reprices annually.