Interest Rate Comparison
Security Bank (Nook Partner)
- 1-Year Fixed: 6.99%
- 5-Year Fixed: 6.75%
- Home Equity: 7.50%
✓ Verified partner rates through Nook
Chinabank
- Standard Rates: 7-10% (approx.)
- Promotional Rates: May vary
⚠ Rates are approximate, based on publicly available information
Monthly Payment Impact
For a P3,000,000 loan over 20 years:
Security Bank (6.75%)
Monthly Payment: P23,013
Chinabank (8.5% estimated)
Monthly Payment: P26,051
Potential Monthly Savings with Security Bank: P3,038
Over the life of the loan, this represents potential savings of over P729,000. Use our Security Bank housing loan calculator to see your specific savings potential.
Eligibility Requirements
Security Bank
- Min Monthly Income: P50,000
- Max DTI: 40%
- Approval Time: 23 days (typical)
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer
Chinabank
- Min Monthly Income: Varies by product
- Max DTI: Typically 30-40%
- Approval Time: 30-45 days (estimated)
- Employment Types: Standard employment requirements
Loan Features & Flexibility
Security Bank
- Foreclosed property financing available
- Home equity loan options
- New construction and pre-selling support
- RFO and reselling property financing
- Renovation loan products
- Dedicated refinancing program
Chinabank
- Standard housing loan products
- Home improvement loans
- Lot acquisition financing
- Construction loan facilities
Why Choose Nook for Your Refinancing
When working with Security Bank through Nook, you get:
- Verified Partner Rates: Access to confirmed promotional rates not available to walk-in clients
- Free Broker Service: Complete application assistance at no cost
- Streamlined Process: Faster approvals through established bank relationships
- Expert Guidance: Professional advice on optimal loan structuring
For a comprehensive comparison of how these banks stack up, check our detailed Chinabank vs Security Bank analysis.
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 lower interest rates - Security Bank or Chinabank?
Security Bank offers significantly lower rates through Nook, with 5-year fixed rates at 6.75% compared to Chinabank's typical 7-10% range. This can result in monthly savings of P2,000-4,000 on a P3,000,000 loan.
How much can I save by refinancing from Chinabank to Security Bank?
On a P3,000,000 loan, you could save approximately P3,038 monthly by switching from a typical 8.5% Chinabank rate to Security Bank's 6.75% rate. Over 20 years, this represents total savings of over P729,000.
What are the minimum income requirements for each bank?
Security Bank requires a minimum monthly income of P50,000 and accepts various employment types including OFWs and freelancers. Chinabank's requirements may vary by product, typically requiring standard employment documentation.
How long does loan approval take with each bank?
Security Bank typically processes applications in 23 days through Nook's streamlined process. Chinabank's approval timeline is generally 30-45 days, depending on the complexity of your application.
Can I refinance any type of property with these banks?
Security Bank offers comprehensive refinancing options including foreclosed properties, home equity loans, and various property types. They also support renovation financing and new construction loans through their diverse product portfolio.
Is there any cost to use Nook's broker service?
No, Nook's broker service is completely free to borrowers. You get access to verified partner bank rates, expert guidance, and streamlined application processing without any fees or charges.