Security Bank vs UCPB: Home Loan Rate Comparison
When comparing home loan options in the Philippines, interest rates are the first thing most borrowers look at — and for good reason. On a ₱3,000,000 loan over 20 years, even a 1% difference in rate can mean paying over ₱300,000 more across the life of your loan. Below is a side-by-side breakdown of what Security Bank and UCPB currently offer.
| Feature | Security Bank | UCPB |
|---|---|---|
| 1-Year Fixed Rate | 6.99% p.a. | Varies (typically 7.5%–9.5% p.a.) |
| 5-Year Fixed Rate | 6.75% p.a. | Varies (typically 8.0%–9.75% p.a.) |
| Home Equity Rate | 7.50% p.a. | Not prominently offered |
| Minimum Monthly Income | ₱50,000 | ~₱40,000–₱50,000 |
| Loan Purposes Covered | Refinancing, RFO, Pre-Selling, Renovation, Home Equity, New Construction, Reselling, Foreclosed | Purchase, Construction, Refinancing (limited) |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer | Primarily employed and self-employed |
| Typical Approval Time | ~23 days | 30–45 days (estimated) |
| Nook Partner Bank | ✅ Yes — apply for free | ❌ No |
Note: Interest rates are subject to change without prior notice. Always verify current rates directly with the bank or through a licensed broker like Nook before making a financial decision.
Monthly Payment Comparison: What Would You Actually Pay?
To make this concrete, here's what your estimated monthly amortization would look like at Security Bank's 5-year fixed rate of 6.75% versus a typical UCPB rate of 8.50%, on a ₱3,000,000 loan over 20 years.
| Loan Amount | Security Bank (6.75%) | UCPB (~8.50%) | Monthly Savings |
|---|---|---|---|
| ₱1,500,000 | ~₱11,392/mo | ~₱13,036/mo | ~₱1,644/mo |
| ₱3,000,000 | ~₱22,784/mo | ~₱26,071/mo | ~₱3,287/mo |
| ₱5,000,000 | ~₱37,973/mo | ~₱43,452/mo | ~₱5,479/mo |
| ₱8,000,000 | ~₱60,757/mo | ~₱69,523/mo | ~₱8,766/mo |
These figures are illustrative estimates for comparison purposes. Actual amortization will depend on your approved rate, loan term, and applicable fees. Use these numbers as a starting point — then let Nook run the exact numbers for you, for free.
Refinancing: Which Bank Is the Better Option?
If you're currently paying more than 7% on your existing home loan — whether it's with UCPB, another bank, or even Security Bank itself — refinancing could reduce your monthly payments significantly. The best refinance rate currently available through Nook is 5.99% p.a., which is lower than both banks' standard advertised rates.
Security Bank is a Nook partner bank, which means:
- You can apply directly through Nook at zero broker fee
- Nook's specialists will help you prepare your documents and submit to Security Bank on your behalf
- You get access to Security Bank's full product suite — including refinancing, home equity loans, and renovation loans
- Faster processing with dedicated support throughout the application
UCPB, on the other hand, is not a Nook partner, so borrowers must apply directly and navigate the process independently. UCPB also has a more limited refinancing product compared to Security Bank's comprehensive loan purpose coverage.
If you're comparing Security Bank against other lenders, you may also find our guides on the Landbank vs Security Bank home loan comparison and the Philippine Veterans Bank vs Security Bank comparison helpful for additional context.
Borrower Eligibility: Who Qualifies?
One area where Security Bank clearly stands out is borrower inclusivity. Many Filipinos — especially OFWs, freelancers, and BPO workers — have historically struggled to get approved for home loans. Security Bank explicitly accepts these borrower types, which is relatively uncommon among Philippine banks.
| Borrower Type | Security Bank | UCPB |
|---|---|---|
| Locally Employed (Private) | ✅ | ✅ |
| Government Employee | ✅ | ✅ |
| BPO Worker | ✅ | ⚠️ Case-to-case |
| OFW / Seafarer | ✅ | ⚠️ Limited |
| Self-Employed | ✅ | ✅ |
| Professional (Doctor, Lawyer, etc.) | ✅ | ✅ |
| Freelancer | ✅ | ❌ Generally not accepted |
If you fall into a non-traditional employment category, Security Bank's broader eligibility criteria make it the more accessible choice — and Nook's team can help ensure your application is packaged correctly to maximize approval chances.
Fees and Other Costs to Consider
Beyond the interest rate, home loans come with a range of fees that can affect your total cost. While exact fees vary and should be confirmed directly with each bank, here's a general overview of what to expect:
| Fee Type | Security Bank | UCPB |
|---|---|---|
| Processing Fee | Typically ₱5,000–₱10,000 | Typically ₱5,000–₱8,000 |
| Appraisal Fee | Charged at cost | Charged at cost |
| Legal / Documentation Fee | Charged at cost | Charged at cost |
| Mortgage Redemption Insurance (MRI) | Required | Required |
| Fire Insurance | Required | Required |
| Broker Fee (via Nook) | ₱0 — Free | N/A (not a Nook partner) |
One important advantage of applying through Nook: our service to borrowers is completely free. We earn from the bank, not from you — so you get professional mortgage guidance at no cost whatsoever.
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Compare My Options →Frequently Asked Questions
Is Security Bank or UCPB better for home loan refinancing?
For most borrowers looking to refinance, Security Bank is the stronger option. Its 5-year fixed rate of 6.75% p.a. is lower than UCPB's typical refinancing rates, it has faster approval times (around 23 days), and it accepts a wider range of borrower types including OFWs and freelancers. Security Bank is also a Nook partner bank, meaning you can apply through Nook at zero broker fee.
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. Their home equity loan rate is 7.50% p.a. These rates are subject to change, so always verify the latest rates directly with Security Bank or through Nook before applying.
What is UCPB's home loan interest rate?
UCPB's home loan rates typically range from around 7.5% to 9.75% p.a. depending on the fixing period and loan type, though these rates are subject to change. We recommend contacting UCPB directly or speaking with a Nook mortgage specialist to get up-to-date rate comparisons across multiple banks.
Can OFWs and freelancers apply for a home loan with Security Bank?
Yes. Security Bank accepts a broad range of employment types including OFWs, seafarers, BPO employees, freelancers, self-employed individuals, and professionals. This makes it one of the more inclusive lenders in the Philippines. Nook can help OFWs and freelancers properly package their application to maximize their chances of approval.
What is the minimum monthly income required by Security Bank for a home loan?
Security Bank requires a minimum monthly income of ₱50,000 for home loan applicants. This applies across most borrower types. If you're unsure whether your income qualifies, a Nook mortgage specialist can assess your situation and recommend the best lender for your profile — at no cost to you.
How long does Security Bank take to approve a home loan?
Security Bank's typical home loan approval time is approximately 23 days from submission of complete documents. This is faster than many other Philippine banks. Applying through Nook can help ensure your documents are complete and correctly submitted, avoiding delays.
Is it free to apply for a Security Bank home loan through Nook?
Yes, completely free. Nook is a licensed mortgage broker and our service to borrowers costs nothing. We are compensated by the bank, not the borrower. You get full application support, document guidance, and rate comparison — at zero cost to you.
What is the best home loan refinance rate available in the Philippines right now?
The best refinance rate currently available through Nook is 5.99% p.a. If you are currently paying 7% or more on your existing home loan, refinancing could significantly reduce your monthly amortization. Use Nook's free service to find out exactly how much you could save.