Interest Rates 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.
Rate Advantage: Security Bank wins with its 6.75% five-year fixed rate - the lowest option between both banks. This represents potential savings of 0.25% compared to RCBC's one-year rate.
Monthly Payment Comparison
For a 3,000,000 loan over 20 years:
Security Bank (6.75%)
Monthly Payment: 22,994
RCBC (7.00%)
Monthly Payment: 23,263
Monthly Savings with Security Bank: 269
Total Interest Savings over 20 years: 64,560
Processing Time & Requirements
Security Bank
- Approval Time: 23 days
- Min Monthly Income: 50,000
- Max DTI: 40%
- Employment Types: Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer
RCBC
- Approval Time: 49 days
- Min Monthly Income: 50,000
- Max DTI: 30%
- Employment Types: Private, OFW/Seafarer, Self-Employed, Professional
Security Bank processes applications more than twice as fast as RCBC, making it ideal for borrowers who need quick approval. However, RCBC's lower DTI requirement may benefit borrowers seeking more conservative lending standards.
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 coverage, including new construction and renovation loans that RCBC doesn't typically handle.
Why Choose Nook for Your Application
Both Security Bank and RCBC are trusted Nook partner banks, meaning you get:
- Free broker service - No fees to you
- Expert guidance through the entire process
- Access to exclusive rates through our bank partnerships
- Simplified application with one point of contact
Whether you choose Security Bank for its speed and lower rates, or RCBC for its conservative approach, Nook ensures you get the best deal available. For additional context on how these banks compare to other options, check our Landbank vs Security Bank comparison.
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Compare My Options →Frequently Asked Questions
Which bank has better rates - Security Bank or RCBC?
Security Bank offers better rates with their 5-year fixed rate at 6.75% compared to RCBC's 1-year fixed at 7.00%. Security Bank also has a competitive 1-year fixed rate at 6.99%, making it the clear winner for interest rates across all terms.
How much faster is Security Bank's approval compared to RCBC?
Security Bank processes home loan applications in 23 days while RCBC takes 49 days - making Security Bank more than twice as fast. This 26-day difference can be crucial if you need quick approval for your refinancing or home purchase.
What's the difference in DTI requirements between Security Bank and RCBC?
Security Bank allows up to 40% debt-to-income ratio while RCBC limits it to 30%. This means Security Bank may approve borrowers with higher existing debt levels, while RCBC takes a more conservative approach to lending risk.
Can I apply for both banks through Nook?
Yes, both Security Bank and RCBC are Nook partner banks. You can apply for either bank through our platform completely free of charge, and our mortgage specialists will help you choose the best option based on your specific financial situation and timeline needs.
Which bank accepts more types of employment?
Security Bank accepts a wider range of employment types including Government employees, BPO workers, and Freelancers, while RCBC focuses on Private employees, OFWs/Seafarers, Self-Employed, and Professionals. Security Bank offers more flexibility for diverse income sources.
How much can I save by choosing Security Bank over RCBC?
On a 3,000,000 loan over 20 years, you'd save 269 monthly with Security Bank's 6.75% rate versus RCBC's 7.00% rate. Over the full loan term, this amounts to total interest savings of 64,560, making Security Bank the more economical choice.