Security Bank vs Tonik: Home Loan Overview
This comparison covers two very different types of lenders in the Philippine market. Security Bank is a full-service commercial bank and a Nook partner bank, offering a complete suite of home loan products including refinancing, home equity, new construction, pre-selling, and RFO purchases. Tonik, by contrast, is the Philippines' first licensed digital bank, known for high-yield deposit accounts and personal loans — but it does not currently offer a home loan or mortgage refinancing product.
For homeowners researching where to refinance their home loan, this distinction is critical. If you are paying 7%, 8%, or more on your existing mortgage, Security Bank's refinancing rates — starting at 6.99% p.a. for a 1-year fix and 6.75% p.a. for a 5-year fix — represent a meaningful opportunity to reduce your monthly payments and total interest paid over the life of your loan.
Note: Interest rates are subject to change. Always verify the latest rates directly with the bank or through Nook before making a financial decision.
Interest Rate Comparison
| Rate Type | Security Bank | Tonik |
|---|---|---|
| 1-Year Fixed Rate | 6.99% p.a. | Not Available |
| 5-Year Fixed Rate | 6.75% p.a. | Not Available |
| Home Equity Loan Rate | 7.50% p.a. | Not Available |
| Refinancing Product | Yes | No |
Security Bank's 5-year fixed rate of 6.75% p.a. is among the most competitive refinance rates available in the Philippine market today. Through Nook, the best available refinance rate is currently 5.99% p.a. — which our brokers will work to secure for qualified borrowers across our network of partner banks.
To understand how Security Bank compares to other established lenders, you may also want to read our Landbank vs Security Bank home loan rates comparison, which breaks down both banks' offerings for refinancing borrowers.
Monthly Payment Illustration
To understand the real-world impact of refinancing with Security Bank, here is an example based on a 3,000,000 peso loan over a 20-year term:
| Scenario | Rate | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| Existing loan (typical) | 9.00% p.a. | 26,992 | 3,478,080 |
| Security Bank 5-Year Fix | 6.75% p.a. | 22,737 | 2,456,880 |
| Best Nook Rate | 5.99% p.a. | 21,490 | 2,157,600 |
At 6.75% versus a typical 9.00% rate, a borrower with a 3,000,000 peso loan could save approximately 4,255 pesos per month — or over 1,021,200 pesos across 20 years. These figures are illustrative and based on a simple fixed-rate amortization model. Actual savings will depend on your remaining balance, term, and the rate you qualify for.
Eligibility and Application Requirements
| Criteria | Security Bank | Tonik |
|---|---|---|
| Minimum Monthly Income | 50,000 | N/A (no home loan product) |
| Maximum Debt-to-Income Ratio | 40% | N/A |
| Typical Approval Time | 23 days | N/A |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer | N/A |
| Loan Purposes Covered | Refinancing, Home Equity, New Construction, Pre-Selling, RFO, Renovation, Reselling, Foreclosed | N/A |
Security Bank's eligibility criteria are broad and inclusive. Whether you are a BPO employee, a freelancer, an OFW, or a self-employed professional, Security Bank accepts a wide range of income sources — making it accessible to a larger portion of the Filipino workforce than many traditional banks. If you are curious how Security Bank stacks up against another competitor, see our Asia United Bank vs Security Bank home loan comparison for more context.
About Tonik Bank
Tonik is the Philippines' first digital bank, regulated by the Bangko Sentral ng Pilipinas (BSP). It is best known for its high-interest savings accounts, time deposits, and personal loan products called "Stash" and "Quick Loan." Tonik's platform is mobile-first and designed for a seamless digital experience.
However, as of the time of writing, Tonik does not offer a home loan or mortgage refinancing product. If you arrived at this page hoping to refinance with Tonik, we recommend exploring Security Bank through Nook as your next best option. Nook's service is 100% free for borrowers — our brokers will handle your application, negotiate on your behalf, and help you find the lowest available rate in the market.
Tonik may expand its product lineup in the future, and we will update this comparison if a home loan product becomes available.
Why Apply Through Nook Instead of Going Directly to Security Bank?
- Free service: Nook charges borrowers nothing. Our fee is paid by the bank.
- Better rates: As a broker, Nook can access rates that may not be publicly advertised, including rates as low as 5.99% p.a.
- Multiple lender access: If Security Bank isn't the best fit for your profile, Nook compares offers across our full partner network — including BDO, BPI, Metrobank, RCBC, PNB, and more.
- End-to-end support: From document preparation to approval, Nook guides you through every step of the refinancing process.
- Faster processing: Our team knows exactly what each bank needs, reducing back-and-forth and delays.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Does Tonik offer home loans in the Philippines?
No. As of the current date, Tonik Bank does not offer a home loan or mortgage refinancing product in the Philippines. Tonik's lending products are limited to personal loans. If you are looking to refinance your home loan, Security Bank — available through Nook at no cost — is a strong alternative with rates starting at 6.75% p.a. for a 5-year fixed term.
What is Security Bank's 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 and refinancing. A home equity loan rate of 7.50% p.a. is also available. Rates are subject to change — verify the latest rates through Nook or directly with Security Bank before applying.
How long does Security Bank take to approve a home loan?
Security Bank's typical approval time is approximately 23 days from submission of complete documents. Applying through Nook can help streamline this process, as our brokers know exactly what documents are required and help you prepare a complete application from the start.
Who qualifies for a Security Bank home loan?
Security Bank accepts borrowers from a wide range of employment types, including private sector employees, government workers, BPO employees, 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%.
How much can I save by refinancing with Security Bank through Nook?
Savings depend on your current rate, remaining loan balance, and the rate you qualify for. As an example, a borrower with a 3,000,000 peso loan at 9.00% p.a. over 20 years is paying approximately 26,992 pesos per month. Refinancing to Security Bank's 6.75% rate could bring that down to around 22,737 pesos — a monthly saving of over 4,000 pesos. Through Nook, rates as low as 5.99% p.a. may be available, potentially saving even more.
Is Nook's mortgage brokering service really free?
Yes. Nook's service is 100% free for borrowers. Nook is compensated by the bank when a loan is successfully placed — similar to how insurance brokers operate. You pay nothing extra, and in most cases you get access to better rates than you would applying directly.
Can I use Security Bank to refinance a loan originally taken from another bank?
Yes. Security Bank accepts refinancing applications regardless of which bank holds your existing home loan. Whether your current mortgage is with BDO, BPI, Metrobank, Pag-IBIG, or another lender, you can apply to refinance with Security Bank through Nook as long as you meet the eligibility requirements.