Security Bank vs BDO

Security Bank vs BDO Housing Loan: At a Glance

Both Security Bank and BDO are Nook partner banks, which means Filipino homeowners can apply to either lender through Nook at zero broker cost. The table below gives you a fast snapshot of how they compare on the metrics that matter most for a home purchase or home loan refinance.

Note: Interest rates are subject to change. Always verify current rates with the bank or through Nook before making a decision.

Interest Rate Deep Dive

The rate structure of each bank serves a different type of borrower, so it's worth understanding what you're actually comparing.

BDO's Rate Strategy

BDO currently offers a 1-year fixed rate of 6.00% p.a. — the same rate it applies to home equity loans. This is one of the most competitive rates available in the Philippine market today and is significantly lower than the industry average of 7% to 10% that many existing homeowners are currently paying. The trade-off is that after the 1-year fixed period, your rate will reprice based on prevailing market rates, introducing some uncertainty.

For a 3,000,000 loan over 20 years at 6.00%, your estimated monthly amortization is approximately 21,491. Over 12 months, that's total payments of about 257,892.

Security Bank's Rate Strategy

Security Bank offers more fixed-rate options: a 1-year fix at 6.99% p.a. and a 5-year fix at 6.75% p.a. The 5-year fixed rate is particularly attractive because it is only 0.75 percentage points above BDO's 1-year rate, yet it locks your payment in for five full years — giving you budgeting certainty most borrowers find valuable.

For the same 3,000,000 loan over 20 years at 6.75% (Security Bank 5-year fix), your estimated monthly amortization is approximately 22,734 — only about 1,243 more per month than BDO's 1-year rate, in exchange for 5 years of payment stability.

At Security Bank's 1-year fixed rate of 6.99%, the monthly payment on the same loan would be approximately 23,215.

For borrowers currently paying 8% or higher on an existing home loan, both banks offer meaningful savings. You can explore how these savings stack up in our detailed Security Bank vs BDO home loan rates comparison.

Monthly Payment Comparison Table

Use this table to see how monthly payments differ across common loan amounts for a 20-year term.

Figures are estimates for illustration only, based on a 20-year term and the stated fixed rates. Actual amortization will vary based on your loan structure, fees, and bank assessment. Rates are subject to change.

Eligibility & Requirements: Who Can Apply?

Both banks share the same minimum monthly income requirement of 50,000 and the same maximum debt-to-income (DTI) ratio of 40%, which means the same borrower profile can qualify at either institution.

Where They Differ: Freelancers

One meaningful difference is that Security Bank explicitly accepts Freelancers as an eligible employment type, while BDO's listed employment types do not include freelancers by name. If you earn income as a freelancer — whether through international clients, online platforms, or project-based work — Security Bank may be the more straightforward path to approval.

OFW and Seafarer Borrowers

Both banks accept OFW and Seafarer borrowers, which is important given that this segment represents a large share of the Philippine housing loan market. If you are an OFW considering a home purchase or refinance, both Security Bank and BDO have experience processing these applications.

Loan Purposes Covered

Both banks cover an identical range of loan purposes: home purchase (RFO, pre-selling, reselling, foreclosed), new construction, renovation, home equity, and refinancing. Neither bank has a meaningful gap here for most borrowers.

Approval Speed: Security Bank is Faster

If timing matters — for instance, if you are trying to close on a property with a deadline or want to lock in savings as quickly as possible — Security Bank's typical approval time of 23 days has an edge over BDO's 30 days. That is approximately one week faster, which can be the difference between securing a property and losing it to another buyer.

When you apply through Nook, our team helps you prepare a complete application from the start, which reduces back-and-forth and helps you reach approval faster at either bank. Nook's service is 100% free to borrowers.

Refinancing: Which Bank Should You Move Your Loan To?

If you already have an existing home loan — whether at BDO, Security Bank, or another bank — refinancing to a lower rate is one of the most effective ways to reduce your monthly expenses. Both banks accept refinancing as a loan purpose.

For refinancing specifically, BDO's 6.00% rate offers the lowest starting payment, making it ideal if your priority is maximum monthly savings from day one. Security Bank's 5-year fixed option at 6.75% is worth considering if you want to lock in a low rate for five years without worrying about annual repricing.

To understand how a loan transfer or takeout to either bank could work for your specific situation, see our guide on BDO vs Security Bank home loan takeout rates.

The best move is to get offers from both banks and compare. Because Nook partners with both, you can do this in a single application process — free of charge.

Home Equity Loans: A Clear BDO Advantage

If you are looking to borrow against the equity in your home — sometimes called a home equity loan or cash-out refinance — the rate difference between the two banks is significant. BDO offers home equity at 6.00% p.a., while Security Bank's home equity rate is 7.50% p.a. That is a 1.5 percentage point difference.

For a 2,000,000 home equity loan over 10 years:

• At BDO 6.00%: approximately 22,204 per month
• At Security Bank 7.50%: approximately 23,747 per month

That difference of roughly 1,543 per month adds up to over 185,000 over 10 years. For home equity borrowing, BDO is the stronger choice on rate.

How to Apply Through Nook

Nook is the Philippines' first digital mortgage broker, and applying through Nook means you get access to both Security Bank and BDO — plus other partner banks — without paying any broker fee. Here's how it works:

1. Submit one application — Nook collects your details once and matches you to the best-fit banks.
2. Compare real offers — You receive actual loan offers from multiple banks so you can compare apples to apples.
3. Choose the best deal — Pick the bank and rate that works best for your situation. There is no obligation.
4. Nook guides you to close — Our team assists you through documentation and bank coordination until your loan is released.

Whether you are buying your first home, upgrading to a bigger property, or refinancing an existing loan to cut your monthly payments, Nook helps you navigate the process without paying a middleman fee.