Security Bank vs Sterling Bank: Home Loan Overview
When comparing home loan options in the Philippines, the size, transparency, and partner network of a bank matter just as much as the headline interest rate. Security Bank is one of the country's top universal banks and a verified Nook partner, meaning borrowers who apply through Nook get access to its competitive rates at zero broker fee. Sterling Bank of Asia is a licensed thrift bank regulated by the Bangko Sentral ng Pilipinas (BSP), but it has a significantly smaller footprint and does not publicly publish detailed home loan rate schedules, making side-by-side comparisons challenging.
This page is designed to give you the clearest possible picture of what each bank offers — and to help you decide whether refinancing or taking out a new home loan with Security Bank through Nook makes sense for your situation.
Interest Rate Comparison
| Rate Type | Security Bank | Sterling Bank of Asia |
|---|---|---|
| 1-Year Fixed | 6.99% p.a. | Not publicly disclosed |
| 5-Year Fixed | 6.75% p.a. | Not publicly disclosed |
| Home Equity Loan | 7.50% p.a. | Not publicly disclosed |
Security Bank's 5-year fixed rate of 6.75% p.a. is among the most competitive in the Philippine market today. The best refinance rate currently available through Nook is 5.99% p.a. — so if you are currently paying 7% or higher on your existing home loan, refinancing through Nook could deliver meaningful monthly savings. Sterling Bank does not publish home loan rates on its website, so prospective borrowers must visit a branch or call directly to get a quote, which adds friction to the process.
Important: Interest rates are subject to change. Always verify the latest rates directly with the bank or through your Nook advisor before making a financial decision.
Loan Terms and Eligibility
| Criteria | Security Bank | Sterling Bank of Asia |
|---|---|---|
| Minimum Monthly Income | 50,000 | Varies — contact bank |
| Maximum Debt-to-Income Ratio | 40% | Not publicly specified |
| Typical Approval Time | 23 days | Not publicly specified |
| Eligible Borrower Types | Private Employee, Government Employee, BPO Worker, OFW/Seafarer, Self-Employed, Professional, Freelancer | Limited public information |
| Loan Purposes Covered | Refinancing, RFO, Pre-Selling, New Construction, Reselling, Renovation, Home Equity, Foreclosed | Limited public information |
Security Bank's broad eligibility criteria make it accessible to a wide range of Filipino borrowers, including OFWs, BPO workers, and freelancers — groups that are sometimes underserved by traditional banks. Its published 40% maximum debt-to-income ratio and 23-day typical approval timeline give borrowers a realistic picture of what to expect. If you are curious how Security Bank stacks up against other options, you may also want to read our Landbank vs Security Bank home loan comparison for another perspective.
Refinancing: How Much Could You Save?
To illustrate the potential savings from refinancing to Security Bank's 5-year fixed rate of 6.75% p.a., here are two sample scenarios:
| Loan Amount | Current Rate (7.5%) | Est. Monthly Payment | Security Bank (6.75%) | Est. Monthly Payment | Monthly Savings |
|---|---|---|---|---|---|
| 3,000,000 | 7.50% / 20 yrs | 24,084 | 6.75% / 20 yrs | 22,726 | 1,358 |
| 5,000,000 | 7.50% / 20 yrs | 40,140 | 6.75% / 20 yrs | 37,877 | 2,263 |
These figures are estimates based on a 20-year term and a reducing balance method. Actual monthly payments will vary depending on your loan balance, remaining term, and any applicable fees. The key takeaway: even a 0.75 percentage point reduction in your interest rate can translate to over 1,000 pesos in monthly savings — and more than 270,000 pesos over the life of a 3,000,000 peso loan. Nook's service is 100% free to the borrower, so there is no cost to finding out how much you could save.
Application Process and Bank Accessibility
| Feature | Security Bank | Sterling Bank of Asia |
|---|---|---|
| Online Application | Yes — via Nook (free broker service) | Branch visit typically required |
| Nook Partner | Yes | No |
| Branch Network | Nationwide (major cities and provinces) | Primarily Metro Manila and select urban areas |
| Digital Documentation | Supported through Nook platform | Not available through Nook |
Applying through Nook means you can submit your documents digitally, receive guidance from a licensed mortgage advisor, and compare offers from multiple partner banks — all at no cost. Sterling Bank, while a legitimate BSP-regulated institution, does not currently offer this kind of streamlined digital experience for home loan applicants. For borrowers comparing Security Bank across multiple institutions, our Asia United Bank vs Security Bank comparison may also be worth reviewing.
Which Bank Is Better for Refinancing?
If your goal is to refinance an existing home loan and reduce your monthly payments, Security Bank through Nook is the clear frontrunner. You get a published, competitive rate, a defined approval timeline, broad borrower eligibility, and the support of a free digital mortgage broker. Sterling Bank of Asia may be a viable option for some borrowers — particularly those with an existing relationship with the bank — but the lack of publicly available rate information and limited digital access make it a less efficient choice for most refinancers.
Nook works with multiple partner banks, so applying through Nook does not lock you into Security Bank. Your advisor will help you identify the best available offer based on your income, property, and loan amount.
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Compare My Options →Frequently Asked Questions
What is Security Bank's current home loan interest rate?
Security Bank currently offers a 1-year fixed rate of 6.99% p.a. and a 5-year fixed rate of 6.75% p.a. for home loans. A home equity loan rate of 7.50% p.a. is also available. These rates are available through Nook at no cost to the borrower. Rates are subject to change, so confirm the latest figures with your Nook advisor.
Does Sterling Bank of Asia offer home loans?
Yes, Sterling Bank of Asia is a BSP-regulated thrift bank that offers home loan products. However, the bank does not publicly publish its interest rates or detailed eligibility requirements online, which means prospective borrowers typically need to visit a branch or call customer service to get a quote. This lack of transparency can make comparison shopping more difficult.
Can I apply for a Security Bank home loan through Nook?
Yes. Security Bank is a verified Nook partner bank. You can apply through Nook's free digital platform, submit your documents online, and receive guidance from a licensed mortgage advisor — all without paying any broker fee. Nook's service is 100% free to the borrower.
How long does Security Bank take to approve a home loan?
Security Bank's typical approval time is 23 days when all required documents are submitted completely. Applying through Nook can help streamline the process, as your advisor will ensure your application is complete and correctly prepared before submission.
What types of borrowers qualify for a Security Bank home loan?
Security Bank accepts applications from a wide range of borrower types, including private employees, government employees, BPO workers, OFWs and seafarers, self-employed individuals, licensed professionals, and freelancers. The minimum monthly income requirement is 50,000 pesos, and the maximum debt-to-income ratio is 40%.
Is it worth refinancing from Sterling Bank to Security Bank?
If you currently have a home loan with Sterling Bank and your interest rate is above 6.75%, refinancing to Security Bank's 5-year fixed rate could reduce your monthly payments significantly. For example, on a 3,000,000 peso loan over 20 years, moving from 7.50% to 6.75% could save approximately 1,358 pesos per month. Use Nook's free refinance calculator to estimate your personal savings.
What loan purposes does Security Bank cover?
Security Bank covers a broad range of home loan purposes including refinancing, ready-for-occupancy (RFO) purchases, pre-selling properties, new construction, reselling, renovation, home equity loans, and foreclosed property purchases. This makes it one of the more flexible lenders in the Philippine market.