Security Bank vs Metrobank Home Loan: Side-by-Side Rate Comparison
When choosing between Security Bank and Metrobank for your home loan or refinance, the most important starting point is the interest rate — since even a 0.5% difference on a multi-million peso loan can mean tens of thousands of pesos over your loan term. Below is a direct comparison based on the best available data as of 2026.
| Feature | Security Bank Nook Partner | Metrobank |
|---|---|---|
| 1-Year Fixed Rate | 6.99% p.a. | ~7.50%–8.50% p.a. (approximate) |
| 5-Year Fixed Rate | 6.75% p.a. | ~7.88%–9.00% p.a. (approximate) |
| Home Equity Rate | 7.50% p.a. | Varies; typically higher |
| Typical Approval Time | ~23 days | ~30–45 days (estimated) |
| Min. Monthly Income | 50,000 | ~50,000–60,000 (varies by product) |
| Max Debt-to-Income Ratio | 40% | Typically 30%–40% |
| Application via Nook (Free) | Yes | No |
Security Bank rates are verified Nook partner rates as of 2026. Metrobank rates shown are approximate figures based on publicly available information and are subject to change. Always verify current Metrobank rates directly with the bank before making a decision.
Monthly Payment Comparison: Real Numbers on a 3,000,000 Loan
Let's make this concrete. Suppose you're refinancing a home loan of 3,000,000 over a 20-year term. Here's how your monthly payment and total interest differ depending on which bank you choose:
| Scenario | Rate | Est. Monthly Payment | Total Interest Paid (20 yrs) |
|---|---|---|---|
| Security Bank (5-Year Fixed) | 6.75% p.a. | ~22,800 | ~2,472,000 |
| Metrobank (Estimated) | ~8.50% p.a. | ~26,100 | ~3,264,000 |
| Difference | 1.75% | ~3,300/month | ~792,000 total |
That's a potential saving of roughly 792,000 over 20 years — or about 3,300 per month — by choosing a lower rate. Even if Metrobank's actual rate is closer to 7.50%, the monthly savings through Security Bank remain significant at approximately 1,500–2,000 per month.
Want to see the numbers for your specific loan? Compare Security Bank, Metrobank, and BDO side by side in our triple bank comparison.
Loan Purposes and Eligibility: What Each Bank Covers
Not all home loans are created equal — and some banks are more flexible than others when it comes to loan purpose, employment type, and borrower profile.
Security Bank — Eligible Loan Purposes
- Refinancing (existing home loan)
- Ready for Occupancy (RFO) purchase
- Pre-selling property
- New construction
- Home renovation
- Reselling
- Home equity / cash-out
- Foreclosed properties
Security Bank — Eligible Employment Types
- Private sector employees
- Government employees
- BPO workers
- OFWs and seafarers
- Self-employed individuals
- Professionals (doctors, lawyers, etc.)
- Freelancers
Metrobank — Eligible Loan Purposes
Metrobank generally covers purchase of house and lot, condominium units, vacant lots, construction, and home improvement loans. Refinancing is also available, though terms and rates are not publicly listed in detail. Eligibility criteria may be stricter for some borrower types — we recommend confirming directly with Metrobank if you are self-employed or a freelancer.
Note: Metrobank eligibility details are based on general publicly available information and may have changed. Verify current requirements with Metrobank directly.
Application Process: Nook Partner vs Direct Bank Application
One of the most overlooked advantages when choosing Security Bank through Nook is the application experience itself. Here's how the two paths compare:
| Step | Security Bank via Nook | Metrobank Direct |
|---|---|---|
| Initial Rate Discovery | Instant, verified rates shown upfront | Requires branch visit or direct inquiry |
| Application Assistance | Free dedicated broker support | Self-serve or bank loan officer |
| Document Preparation | Guided checklist from Nook | Standard bank requirements |
| Broker Fee | Free (100% no cost to borrower) | N/A (direct) |
| Multiple Bank Comparison | Yes, Nook shows multiple options | Metrobank only |
| Typical Approval Time | ~23 days | ~30–45 days (estimated) |
Nook's service is completely free to you as a borrower — Nook earns a referral fee from the bank, not from you. This means you get expert mortgage brokering at zero cost, with access to verified competitive rates.
Refinancing Specifically: Which Bank Is Better?
If you already have an existing home loan — whether with Metrobank, BDO, BPI, or any other bank — and you're looking to refinance to a lower rate, Security Bank through Nook is currently one of the strongest options in the market.
Here's why refinancing with Security Bank via Nook makes sense:
- Rate as low as 6.75% p.a. (5-year fixed) — significantly below the 7%–10% most Filipinos are currently paying
- No broker fee — Nook handles everything for free
- Fast processing — typical approval in ~23 days
- Flexible borrower types — including OFWs, self-employed, and freelancers who may struggle with other banks
- Wide range of eligible purposes — including home equity loans for cash-out refinancing
If you're currently with Metrobank and paying a rate above 7%, refinancing to Security Bank at 6.75% could yield meaningful monthly savings. For a deeper look at refinancing options between these two banks, see our Metrobank vs Security Bank refinance rates comparison.
Fees and Other Costs to Consider
Interest rates are only part of the total cost of a home loan. Here are other fees typically associated with home loans in the Philippines that you should factor into your comparison:
| Fee Type | Security Bank (via Nook) | Metrobank |
|---|---|---|
| Processing Fee | Subject to bank's current schedule | Subject to bank's current schedule |
| Appraisal Fee | Typically charged by bank | Typically charged by bank |
| Documentary Stamp Tax | Standard BIR rates apply | Standard BIR rates apply |
| Mortgage Redemption Insurance (MRI) | Required (typically bundled) | Required (typically bundled) |
| Fire Insurance | Required annually | Required annually |
| Broker/Agent Fee | Free via Nook | N/A |
Fee schedules are subject to change. Always request a full breakdown of all fees from your bank before signing any loan documents.
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Compare My Options →Frequently Asked Questions
What is Security Bank's home loan interest rate in 2026?
Security Bank's verified home loan rates through Nook are: 6.99% p.a. for a 1-year fixed period, 6.75% p.a. for a 5-year fixed period, and 7.50% p.a. for home equity loans. These are among the most competitive rates currently available in the Philippine market. Rates are subject to change — apply through Nook to get the latest confirmed rates.
What is Metrobank's home loan interest rate in 2026?
Metrobank's home loan rates are not publicly listed in detail and vary depending on the loan amount, term, borrower profile, and fixed-rate period chosen. Based on publicly available information, rates are typically in the range of 7.50% to 9.00% p.a., but these are approximate figures. We strongly recommend contacting Metrobank directly or visiting a branch to get an official quote. Note that Metrobank is not currently a Nook partner bank, so Nook cannot provide verified Metrobank rates.
Can I refinance my Metrobank home loan with Security Bank?
Yes — refinancing your existing Metrobank home loan with Security Bank is possible and potentially very rewarding if your current rate is above 6.75%. Security Bank accepts refinancing applications, and the process can be handled entirely through Nook at no cost to you. Nook's team will help you assess whether refinancing makes financial sense based on your remaining balance, current rate, and penalty clauses in your existing loan.
Which bank is better for home loans: Security Bank or Metrobank?
For most borrowers in 2026, Security Bank offers a stronger value proposition — particularly when applying through Nook. Security Bank's verified 5-year fixed rate of 6.75% p.a. is lower than Metrobank's typical rate range, and the application process is faster (approximately 23 days). Security Bank also accepts a wider range of borrower types including OFWs, freelancers, and self-employed individuals. That said, Metrobank is a well-established lender and may be preferred by borrowers who already have a strong existing relationship with the bank.
What are the income requirements for Security Bank home loans?
Security Bank requires a minimum monthly income of 50,000 for home loan applicants. This applies to salaried employees, self-employed individuals, OFWs, and other borrower types. Security Bank's maximum debt-to-income (DTI) ratio is 40%, meaning your total monthly loan obligations — including the new home loan — should not exceed 40% of your gross monthly income.
How long does Security Bank take to approve a home loan?
Security Bank's typical home loan approval timeline is approximately 23 days from submission of complete documents. This is generally faster than many other Philippine banks. Applying through Nook can help speed up the process further, as Nook's team ensures your documents are complete and correctly prepared before submission, reducing the chance of back-and-forth delays.
Is Nook's mortgage brokering service really free?
Yes, completely. Nook charges zero fees to borrowers. Nook earns a referral or placement fee from the partner bank — similar to how a real estate broker earns a commission from the seller, not the buyer. You get expert guidance, document support, and access to verified competitive rates at absolutely no cost to you.
Can OFWs and self-employed borrowers apply for a Security Bank home loan through Nook?
Yes. Security Bank accepts home loan applications from OFWs, seafarers, self-employed individuals, professionals, freelancers, BPO workers, and both private and government sector employees. This makes Security Bank one of the more inclusive lenders in the Philippines. Nook can help guide OFWs and self-employed borrowers through the specific document requirements for their employment type.