Interest Rates Comparison
Security Bank (via Nook)
- 1-Year Fixed: 6.99%
- 5-Year Fixed: 6.75%
- Home Equity: 7.50%
✓ Verified partner rates through Nook
Metrobank
- Standard Rates: ~7.0% - 9.0%
- Promotional Rates: May vary
*Approximate rates based on publicly available information, subject to change
Loan Requirements
| Requirement | Security Bank | Metrobank |
|---|---|---|
| Minimum Monthly Income | ₱50,000 | Typically ₱50,000+ |
| Maximum DTI Ratio | 40% | Usually 30-40% |
| Employment Types | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer | Various employment types accepted |
| Processing Time | 23 days (typical) | 30-45 days typically |
Loan Purposes Accepted
Security Bank
- Foreclosed properties
- Home equity loans
- New construction
- Pre-selling units
- Ready for occupancy (RFO)
- Refinancing
- Renovation
- Resale properties
Metrobank
- House and lot purchase
- Condominium units
- Refinancing
- Home construction
- Home improvement
Monthly Payment Examples
Based on a ₱3,000,000 loan over 20 years:
| Bank | Interest Rate | Monthly Payment | Total Interest |
|---|---|---|---|
| Security Bank (5-year fixed) | 6.75% | 22,763 | 2,463,120 |
| Metrobank (estimated) | 8.00% | 25,093 | 3,022,320 |
| Monthly Savings with Security Bank | 2,330 | 559,200 | |
Why Choose Security Bank Through Nook?
- Verified competitive rates - Get access to Security Bank's best rates through our partnership
- Free broker service - Nook handles your entire application process at no cost
- Faster processing - Average 23-day approval timeline
- Flexible employment requirements - Accept various employment types including freelancers and OFWs
- Expert guidance - Our mortgage specialists help you navigate the entire process
For more comprehensive comparisons, check out our three-bank refinancing comparison to see how Security Bank stacks up against other major lenders.
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Compare My Options →Frequently Asked Questions
What are Security Bank's current housing loan rates?
Security Bank offers competitive rates through Nook starting at 6.75% for 5-year fixed terms, 6.99% for 1-year fixed, and 7.50% for home equity loans. These are verified partner rates available exclusively through Nook's platform.
How do Security Bank rates compare to Metrobank?
Security Bank's verified rates through Nook (starting at 6.75%) are typically lower than Metrobank's standard rates, which generally range from 7-9%. This can result in significant monthly savings of ₱2,000+ on a typical ₱3 million loan.
What is the minimum income requirement for Security Bank housing loans?
Security Bank requires a minimum monthly income of ₱50,000 for housing loan applications. They accept various employment types including private employees, government workers, BPO staff, OFWs, self-employed individuals, professionals, and freelancers.
How long does Security Bank housing loan approval take?
Security Bank typically processes housing loan applications within 23 days through Nook's streamlined process. This is faster than many other banks which may take 30-45 days for approval.
Can I refinance my Metrobank loan to Security Bank?
Yes, you can refinance your existing Metrobank housing loan to Security Bank to take advantage of lower interest rates. Nook can help you compare your current rate with Security Bank's offerings and handle the entire refinancing process for free.
What types of properties can I finance with Security Bank?
Security Bank accepts financing for various property types including foreclosed properties, new construction, pre-selling units, ready-for-occupancy properties, resale properties, and renovation projects. They also offer home equity loans and refinancing options.