Interest Rates Comparison
Security Bank Rates
- 1-Year Fixed: 6.99%
- 5-Year Fixed: 6.75%
- Home Equity: 7.50%
BDO Rates
- 1-Year Fixed: 6.00%
- Home Equity: 6.00%
Interest rates are subject to change. Verify current rates when applying.
Monthly Payment Comparison
For a 5,000,000 loan over 20 years:
| Bank | Rate | Monthly Payment | Total Interest |
|---|---|---|---|
| BDO (Home Equity) | 6.00% | 35,820 | 3,596,800 |
| Security Bank (5-Year Fixed) | 6.75% | 38,056 | 4,133,440 |
BDO saves you 2,236 monthly and 536,640 in total interest over the loan term. For detailed payment calculations, check our comprehensive loan calculator comparison.
Approval Requirements Comparison
Security Bank
- Minimum Income: P50,000/month
- Maximum DTI: 40%
- Approval Time: 23 days
- Employment: Private, Government, BPO, OFW, Self-Employed, Professional, Freelancer
BDO
- Minimum Income: P50,000/month
- Maximum DTI: 40%
- Approval Time: 30 days
- Employment: Private, Government, BPO, OFW, Self-Employed, Professional
Both banks have identical income and DTI requirements, making them equally accessible. Security Bank stands out by accepting freelancers and processing applications 7 days faster.
Loan Purpose Flexibility
Security Bank
- Foreclosed properties
- Home equity loans
- New construction
- Pre-selling units
- Ready for occupancy (RFO)
- Refinancing
- Renovation
- Reselling
BDO
- Home equity loans
- Foreclosed properties
- New construction
- Pre-selling units
- Ready for occupancy (RFO)
- Renovation
- Reselling
Security Bank explicitly offers refinancing services, making it ideal for homeowners looking to refinance existing loans. Both banks cover all major property types and purchase scenarios.
Why Choose Nook for Your Application
As a Nook partner, both Security Bank and BDO offer streamlined application processes through our platform:
- Free broker service - No fees to you
- Expert guidance - Navigate requirements with professional support
- Rate monitoring - We track the best available rates
- Application support - End-to-end assistance
- Multiple options - Compare offers from both banks simultaneously
Apply through Nook to access competitive rates from both banks while getting professional mortgage broker support at no cost to you.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which bank has better housing loan rates - Security Bank or BDO?
BDO currently offers lower rates with their 6.00% home equity loan compared to Security Bank's 7.50% home equity rate. However, Security Bank's 5-year fixed rate at 6.75% is competitive for longer-term rate protection.
What are the minimum requirements for Security Bank vs BDO housing loans?
Both banks require a minimum monthly income of P50,000 and maintain a maximum debt-to-income ratio of 40%. Security Bank accepts freelancers while BDO does not, making Security Bank more accessible for non-traditional employment.
How long does approval take for Security Bank vs BDO home loans?
Security Bank processes applications in approximately 23 days, while BDO takes around 30 days. Security Bank's faster processing can be advantageous for time-sensitive property purchases.
Can I use either bank for refinancing my existing home loan?
Security Bank explicitly offers refinancing services and is a strong option for homeowners looking to lower their current mortgage rates. BDO focuses more on home equity loans but both banks work with Nook to provide refinancing solutions.
Which bank is better for OFWs - Security Bank or BDO?
Both Security Bank and BDO accept OFW and seafarer applications. BDO's lower rates might provide better long-term savings, while Security Bank's faster processing could benefit OFWs with limited time in the Philippines for loan processing.
Should I apply directly to the bank or through Nook?
Applying through Nook provides free broker services, expert guidance, and the ability to compare offers from both banks simultaneously. Nook's partnership with both Security Bank and BDO ensures you get competitive rates with professional support at no additional cost.