Security Bank vs BPI vs BDO Housing Loan: At a Glance
Choosing between Security Bank, BPI, and BDO for your home loan or refinancing comes down to more than just the headline interest rate. Approval speed, minimum income requirements, and available fixed-rate terms all play a role. The table below gives you a quick snapshot of where each bank stands in 2026.
| Feature | Security Bank | BPI Family Savings | BDO Unibank |
|---|---|---|---|
| 1-Year Fixed Rate | 6.99% | 6.70% | 6.00% ✓ Lowest |
| 3-Year Fixed Rate | 7.25% | N/A | N/A |
| 5-Year Fixed Rate | 7.75% | 6.50% | N/A |
| Home Equity Rate | 7.50% | 6.70% | 6.00% |
| Min. Monthly Income | P50,000 | P40,000 ✓ Lowest | P50,000 |
| Max DTI | 40% | 40% | 40% |
| Typical Approval | 23 days ✓ Fastest | 52 days | 30 days |
| Nook Partner | ✓ Yes | ✓ Yes | ✓ Yes |
Interest rates are subject to change. Always verify current rates with your chosen bank or through Nook before proceeding.
Interest Rate Comparison in Detail
Let's look at what these rates actually mean for your monthly repayments. The example below uses a loan amount of 3,000,000 over a 20-year term, with the initial fixed-rate period applied in Year 1.
| Bank | Rate | Est. Monthly Payment (3M / 20 yrs) | Annual Interest Cost (Yr 1) |
|---|---|---|---|
| BDO Unibank | 6.00% | approx. 21,493 | approx. 178,800 |
| BPI Family Savings | 6.70% | approx. 22,620 | approx. 200,100 |
| Security Bank | 6.99% | approx. 23,090 | approx. 209,100 |
On a 3,000,000 loan, choosing BDO over Security Bank saves you roughly 1,597 per month in Year 1 — that's about 19,164 over the first year alone. If you're already paying a rate of 8% or higher, refinancing to any of these three banks through Nook could cut your monthly payment significantly. You can explore how much you could save by checking our best home loan rates Philippines 2026 comparison.
For borrowers who want longer rate certainty, BPI's 5-year fixed rate of 6.50% is notably competitive — beating Security Bank's 5-year rate of 7.75% by a wide margin. If you plan to hold your fixed period for five years without repricing, BPI is the clear winner for medium-term stability.
Loan Requirements: Who Qualifies?
All three banks are Nook partner banks and accept a wide range of employment types. Here's how their eligibility requirements compare:
| Requirement | Security Bank | BPI Family Savings | BDO Unibank |
|---|---|---|---|
| Min. Monthly Income | P50,000 | P40,000 | P50,000 |
| Private Employed | ✓ | ✓ | ✓ |
| Government Employed | ✓ | ✓ | ✓ |
| BPO Workers | ✓ | ✓ | ✓ |
| OFW / Seafarer | ✓ | ✓ | ✓ |
| Self-Employed | ✓ | ✓ | ✓ |
| Professional | ✓ | ✓ | ✓ |
| Freelancer | ✓ | ✗ | ✗ |
Key takeaway: BPI has the lowest minimum income threshold at P40,000/month, making it the most accessible option for borrowers who earn less than P50,000. Security Bank is the only bank among the three that explicitly accepts freelancers — a useful distinction for gig economy workers and independent contractors.
Loan Purposes Covered
All three banks support a comprehensive range of home loan purposes, including refinancing, home equity loans, purchase of RFO and pre-selling properties, new construction, renovation, reselling, and foreclosed properties. This means whichever bank you choose, you'll have flexibility in how you use the loan.
For refinancing specifically, BDO's 6.00% rate and 30-day approval make it a standout. If you're currently paying 8% or more with another bank, switching could reduce your monthly payment by thousands of pesos. See how the numbers stack up in our detailed Security Bank vs BDO vs BPI home loan rates comparison.
Approval Speed: Which Bank Is Fastest?
If you're working on a tight timeline — say, a property with a firm purchase deadline or a refinancing that needs to close before your current lock-in period ends — approval speed matters a lot.
- Security Bank: 23 days — The fastest of the three. Ideal for borrowers who need a quick decision and can accept slightly higher rates as the trade-off.
- BDO: 30 days — A solid middle ground. One of the fastest approvals available while still offering the most competitive rate among the three.
- BPI: 52 days — The slowest of the three. BPI's more thorough credit evaluation process takes time, so plan ahead if you're going with BPI.
For most borrowers, BDO's combination of fastest-competitive rate and 30-day processing makes it the practical default. But if your income is below P50,000 or you're a freelancer, BPI or Security Bank may be your better fit regardless of timeline.
Refinancing with Security Bank, BPI, or BDO Through Nook
Nook is the Philippines' first digital mortgage broker — and it's 100% free for borrowers. Instead of applying separately to each bank, filling out three different application forms, and waiting weeks for each to respond, Nook lets you submit one application and get matched to the best offer among all partner banks, including Security Bank, BPI, and BDO.
The best refinance rate currently available through Nook is 5.99% p.a. — lower than any of the three banks' advertised rates. Most Filipino homeowners are currently paying between 7% and 10%, meaning the savings potential from refinancing through Nook is significant. On a 5,000,000 loan at 9% being refinanced to 5.99%, the annual interest saving is approximately 150,500.
There are no broker fees, no hidden charges, and no obligation to proceed after your free consultation. Nook's team handles the paperwork, bank coordination, and follow-up — so you don't have to.
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Compare My Options →Frequently Asked Questions
Which bank has the lowest housing loan rate in 2026 — Security Bank, BPI, or BDO?
BDO Unibank has the lowest 1-year fixed rate at 6.00% p.a., followed by BPI at 6.70% and Security Bank at 6.99%. For a 5-year fixed period, BPI offers 6.50% which beats Security Bank's 7.75% significantly. If you want the absolute lowest starting rate, BDO is the clear winner among the three. Note that rates are subject to change — always verify current rates before applying.
What is the minimum income requirement for a housing loan at Security Bank, BPI, and BDO?
BPI Family Savings Bank has the lowest minimum monthly income requirement at P40,000. Both Security Bank and BDO require a minimum of P50,000 per month. If your monthly income is between P40,000 and P49,999, BPI may be your only eligible option among these three banks.
Which bank approves housing loans fastest?
Security Bank has the fastest typical approval timeline at 23 days. BDO follows at 30 days, and BPI takes the longest at approximately 52 days. If speed is a priority — for example, if you have a property purchase deadline — Security Bank or BDO are better choices than BPI.
Can freelancers apply for a housing loan at these banks?
Among the three, only Security Bank explicitly accepts freelancers as an eligible employment type. BPI and BDO both support self-employed professionals and business owners, but freelancers without a registered business may find Security Bank more accommodating. It's worth discussing your specific situation with Nook, who can help match you to the right bank based on your employment profile.
Is it worth refinancing my existing housing loan to Security Bank, BPI, or BDO?
If you're currently paying 7.5% or higher, refinancing to BDO at 6.00% or BPI at 6.70% could save you tens of thousands of pesos per year. On a 3,000,000 loan, moving from 9% to 6.00% saves approximately 87,900 in interest in the first year alone. Nook's free refinancing service can help you calculate your exact savings and match you with the best available offer across all partner banks.
Does Nook charge a fee to help me apply for a housing loan or refinancing?
No — Nook's service is completely free for borrowers. Nook is paid by the banks, not by you. You get access to multiple bank offers, professional guidance, and full application support at zero cost. This is true whether you're refinancing or applying for a new home loan.
Which bank is better for OFWs — Security Bank, BPI, or BDO?
All three banks — Security Bank, BPI, and BDO — accept OFW and seafarer applicants. The best choice for OFWs will depend on income level, loan amount, and how quickly you need approval. BPI's lower income threshold (P40,000) may make it more accessible for some OFWs, while BDO's lower rate makes it ideal for maximizing long-term savings. Nook can assess your OFW documentation and match you to the right bank.
What loan purposes do Security Bank, BPI, and BDO housing loans cover?
All three banks cover a wide range of loan purposes including: refinancing of existing home loans, home equity loans, purchase of ready-for-occupancy (RFO) and pre-selling properties, new construction, renovation, reselling, and foreclosed property purchases. There are no major differences in eligible loan purposes among the three banks.