Security Bank vs BPI Family Savings Bank

Security Bank vs BPI Home Loan: At a Glance

Both Security Bank and BPI Family Savings Bank are Nook partner banks, meaning you can apply to either — or both — through Nook at zero cost to you. The table below summarizes the key differences as of 2026. Note that interest rates are subject to change; always verify current rates before committing.

Interest Rate Comparison: Which Bank Is Cheaper?

On headline rates alone, BPI Family Savings Bank offers lower interest across every fixed-rate period. The gap is most visible on 5-year fixed terms: BPI at 6.50% p.a. versus Security Bank at 6.75% p.a. — a 0.25 percentage point difference that compounds meaningfully over a 20-year loan.

To put this in concrete terms, consider a ₱4,000,000 loan over 20 years:

• BPI at 6.50%: Estimated monthly amortization of approximately 29,890 during the fixed period
• Security Bank at 6.75%: Estimated monthly amortization of approximately 30,480 during the fixed period
• Difference per month: approximately 590
• Difference over 5-year fixed period: approximately 35,400

For home equity loans specifically, BPI's 6.70% rate is significantly more competitive than Security Bank's 7.50% — a 0.80 percentage point gap that makes BPI the clear winner for borrowers looking to unlock equity from their existing property.

If you're refinancing from a typical bank rate of 8–10%, both banks offer meaningful savings. You can compare BPI and Security Bank refinancing rates in more detail to see projected savings for your specific loan amount.

Approval Speed: Security Bank Has a Clear Advantage

This is where Security Bank pulls decisively ahead. With a typical approval timeline of just 23 days, Security Bank processes home loan applications more than twice as fast as BPI Family Savings Bank's typical 52-day turnaround.

Why does this matter?

• Refinancing deadlines: If your current fixed-rate period is expiring soon and you want to lock in a new rate before repricing hits, 23 days gives you far more flexibility.
• Property purchase timelines: Sellers and developers often impose strict payment deadlines. A faster approval reduces the risk of losing your chosen property.
• Reduced limbo period: A shorter wait means less time paying your old (likely higher) rate while your new application is being processed.

For borrowers where timing is critical, Security Bank's speed advantage may outweigh BPI's rate advantage — especially on shorter fixed-rate terms where the interest difference is smaller.

Eligibility Requirements: BPI Is More Accessible

BPI Family Savings Bank requires a minimum monthly income of 40,000, while Security Bank sets its threshold at 50,000. Both banks share a maximum debt-to-income (DTI) ratio of 40%, meaning your total monthly obligations — including the new home loan — should not exceed 40% of your gross monthly income.

Both banks accept a broad range of employment types:

• Locally employed (private sector)
• Government employees
• BPO workers
• OFWs and seafarers
• Self-employed individuals
• Professionals (doctors, lawyers, CPAs, etc.)

Security Bank additionally accepts freelancers as an eligible employment type — a meaningful distinction for the growing number of independent workers in the Philippines.

Both banks support the same loan purposes: refinancing, home purchase (RFO, pre-selling), new construction, renovation, home equity, reselling, and foreclosed properties. This means whichever bank you choose, your use case is likely covered.

Refinancing Scenario: Real Numbers for a ₱3,500,000 Loan

Let's say you currently have a ₱3,500,000 outstanding balance on a home loan at 8.50% p.a. with 18 years remaining. Here's how refinancing to each bank compares on a 5-year fixed rate:

Both banks deliver substantial savings versus a typical existing rate. The BPI option saves an additional ~22,800 over the 5-year fixed period compared to Security Bank — real money, but modest compared to the total savings either bank delivers. These figures are illustrative; your actual amortization will depend on your exact balance, term, and the prevailing rate at time of application.

Which Loan Purposes Are Covered?

Both banks cover an identical set of loan purposes, so this factor doesn't differentiate them. Whether you're refinancing an existing loan, buying a ready-for-occupancy unit, purchasing a pre-selling property, building a new home, renovating, or unlocking equity — both Security Bank and BPI Family Savings Bank have you covered.

The one exception worth noting: home equity loans. BPI's home equity rate of 6.70% significantly undercuts Security Bank's 7.50%, making BPI the better choice if accessing your property's equity is your primary goal.

For a broader multi-bank view, see our BPI vs Metrobank vs Security Bank home loan comparison which adds a third major lender into the mix.

Applying Through Nook: The Smarter Way to Compare

Nook is the Philippines' first digital mortgage broker, and our service is 100% free for borrowers. Here's what applying through Nook means for you:

• One application, multiple banks: Submit your details once and we'll compare offers from Security Bank, BPI, and other partner banks simultaneously.
• No broker fees: We are compensated by the banks, never by you.
• Expert guidance: Our mortgage specialists help you understand which bank's profile best fits your income, employment type, and timeline.
• Faster processing: Our team prepares and reviews your documents before submission, reducing back-and-forth with the bank.

The best refinance rate currently available through Nook is 5.99% p.a. — which means depending on your profile and the bank matched to you, your actual rate could be even lower than the headline rates shown here. All rates are subject to bank approval and may change without prior notice.