Interest Rate Comparison
Security Bank Rates
- 1-Year Fixed: 6.99% p.a.
- 5-Year Fixed: 6.75% p.a.
- Home Equity: 7.50% p.a.
RCBC Rates
- 1-Year Fixed: 7.00% p.a.
- Home Equity: 8.00% p.a.
Security Bank clearly leads with more competitive rates across all categories. Their 5-year fixed rate of 6.75% offers excellent long-term stability, while their 1-year fixed at 6.99% still beats RCBC's comparable 7.00% rate.
Monthly Payment Savings Analysis
Let's compare monthly payments on a 5,000,000 loan with 20 years remaining:
Current Rate: 8.5% vs Security Bank 6.75%
- Current monthly payment: 43,393
- Security Bank payment: 38,062
- Monthly savings: 5,331
- Total savings over 20 years: 1,279,440
Current Rate: 8.5% vs RCBC 7.00%
- Current monthly payment: 43,393
- RCBC payment: 38,765
- Monthly savings: 4,628
- Total savings over 20 years: 1,110,720
Security Bank's lower rates translate to an additional 703 monthly savings compared to RCBC, adding up to 168,720 more in total savings over the loan term.
Processing Time & Approval
Security Bank
- Typical approval: 23 days
- Documentation: Standard requirements
- Branch network: Extensive nationwide
RCBC
- Typical approval: 49 days
- Documentation: Standard requirements
- Branch network: Wide coverage
Security Bank processes applications more than twice as fast as RCBC, getting you refinanced and saving money sooner.
Eligibility Requirements
Security Bank Requirements
- Minimum monthly income: 50,000
- Maximum DTI ratio: 40%
- Employment types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer
RCBC Requirements
- Minimum monthly income: 50,000
- Maximum DTI ratio: 30%
- Employment types: Private, OFW/Seafarer, Self-Employed, Professional
Both banks have the same income requirement, but Security Bank is more flexible with a 40% DTI limit versus RCBC's stricter 30%. Security Bank also accepts more employment types, including government employees, BPO workers, and freelancers.
Loan Purpose Flexibility
Security Bank Accepts
- Foreclosed properties
- Home equity loans
- New construction
- Pre-selling units
- Ready for occupancy (RFO)
- Refinancing
- Renovation loans
- Reselling properties
RCBC Accepts
- Foreclosed properties
- Home equity loans
- Pre-selling units
- Ready for occupancy (RFO)
- Refinancing
- Reselling properties
Security Bank offers broader loan purpose options, including new construction and renovation financing that RCBC doesn't provide.
Why Choose Nook for Your Refinancing
Both Security Bank and RCBC are trusted Nook partner banks, meaning you get:
- Free broker service - No fees or hidden charges
- Expert guidance through the entire refinancing process
- Competitive rates negotiated through our partnerships
- Faster processing with dedicated relationship managers
- Multiple options to choose the best fit for your situation
Whether you choose Security Bank's lower rates or RCBC's alternative terms, Nook ensures you get the best possible deal with professional support throughout your refinancing journey.
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Compare My Options →Frequently Asked Questions
Which bank offers lower rates between Security Bank and RCBC?
Security Bank offers lower rates with their 5-year fixed rate at 6.75% compared to RCBC's 7.00% 1-year fixed rate. Security Bank also provides more competitive home equity rates at 7.50% versus RCBC's 8.00%.
How much faster is Security Bank's loan processing compared to RCBC?
Security Bank processes home loan applications in approximately 23 days, while RCBC typically takes 49 days. This means Security Bank can get your refinancing completed more than twice as fast, allowing you to start saving on monthly payments sooner.
What are the DTI requirements for Security Bank vs RCBC?
Security Bank allows up to 40% debt-to-income ratio, making them more flexible for borrowers with existing financial obligations. RCBC has a stricter 30% DTI limit, which may be more challenging for some applicants to meet.
Can I apply to both banks through Nook?
Yes, both Security Bank and RCBC are Nook partner banks. You can apply to both through our platform for free and compare actual loan offers to choose the best terms for your situation. Our service includes expert guidance throughout the entire process.
Which bank accepts more employment types?
Security Bank accepts a wider range of employment types including private employees, government workers, BPO staff, OFWs, self-employed individuals, professionals, and freelancers. RCBC accepts private employees, OFWs, self-employed individuals, and professionals, but doesn't include government employees, BPO workers, or freelancers.
How much can I save by refinancing with Security Bank vs RCBC?
On a 5,000,000 loan with 20 years remaining, refinancing from 8.5% to Security Bank's 6.75% rate saves 5,331 monthly and 1,279,440 total. RCBC's 7.00% rate saves 4,628 monthly and 1,110,720 total. Security Bank provides an additional 703 monthly savings compared to RCBC.