Interest Rates Comparison
Security Bank (Nook Partner)
- 1-Year Fixed: 6.99% p.a.
- 5-Year Fixed: 6.75% p.a.
- Home Equity: 7.50% p.a.
✓ Verified Partner Rates
Metrobank
- Standard Rates: 7.0% - 9.0% p.a.*
- Promotional Rates: May vary
- Variable Rates: Subject to repricing
*Approximate rates based on publicly available information
Monthly Payment Comparison
For a 3,000,000 loan over 20 years:
| Bank | Rate | Monthly Payment | Total Interest | Savings vs Higher Rate |
|---|---|---|---|---|
| Security Bank (5-Year Fixed) | 6.75% | 22,934 | 2,504,160 | Reference |
| Security Bank (1-Year Fixed) | 6.99% | 23,276 | 2,586,240 | -82,080 |
| Metrobank (Est. 8.0%) | 8.00% | 25,093 | 3,022,320 | -518,160 |
Eligibility Requirements
Security Bank
- Min Monthly Income: 50,000
- Max DTI: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer
- Approval Time: 23 days (typical)
Metrobank
- Min Monthly Income: Varies by product
- Max DTI: Typically 30-40%
- Employment Types: Standard employment categories
- Approval Time: 30-45 days (typical)
Application Process
Security Bank via Nook
- Submit application through Nook (100% free)
- Document collection and verification
- Bank evaluation and approval
- Loan release and existing loan payoff
✓ Free broker service ✓ Competitive verified rates ✓ Streamlined process
Metrobank Direct
- Visit branch or apply online
- Submit required documents
- Credit evaluation process
- Approval and loan processing
Standard bank application process
Key Advantages
Security Bank Advantages
- Verified competitive rates through Nook partnership
- Multiple fixed-rate options (1-year, 5-year)
- Accessible 50,000 minimum income requirement
- Supports diverse employment types including freelancers
- Free broker service eliminates application fees
- Streamlined approval process
Metrobank Considerations
- Large branch network for in-person service
- Established reputation in Philippine banking
- Various loan products and services
- May offer promotional rates periodically
Note: Rates shown are approximate and may vary. Contact bank directly for current offers.
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Compare My Options →Frequently Asked Questions
Which bank offers better refinance rates between Security Bank and Metrobank?
Security Bank offers better verified rates through Nook's partnership, with 5-year fixed rates at 6.75% compared to Metrobank's typical 7-9% range. Security Bank's rates are confirmed and available through our free broker service.
How much can I save by choosing Security Bank over Metrobank for refinancing?
On a 3,000,000 loan over 20 years, choosing Security Bank's 6.75% rate over a typical 8% Metrobank rate could save you approximately 518,160 in total interest payments, or about 2,159 per month.
What are the minimum income requirements for each bank?
Security Bank requires a minimum monthly income of 50,000 and accepts various employment types including freelancers and OFWs. Metrobank's requirements vary by product, and you'll need to inquire directly with the bank for specific income thresholds.
Can I apply for Security Bank refinancing through Nook for free?
Yes, Nook's broker service is 100% free for borrowers. We help you access Security Bank's competitive rates and guide you through the entire refinancing process at no cost to you.
How long does the approval process take for each bank?
Security Bank typically processes applications in 23 days when applied through Nook's streamlined process. Metrobank's direct applications usually take 30-45 days, depending on document completeness and loan complexity.
Are Security Bank's rates through Nook guaranteed?
The rates shown are current verified partner rates available through Nook. While interest rates are subject to change, these represent actual available rates for qualified borrowers, unlike estimated rates from other sources.