Although I have seen a lot of billboards of Security Bank’s Fantastic Elastic Home Loan, I didn’t know exactly what interest rates they were offering. Thanks to Ms. Emy Arceo of Security Bank, I now know that their interest rates starts at just 5.25% (fixed for 1 year), one of the lowest in the market. Other interest rates/fixing periods, and a video introduction with Megan Young can be seen below.
Security Bank Fantastic Elastic Home Loan Interest Rates
| Fixing Period (Years) | Interest Rate |
| 1 | 5 .25% |
| 2 to 3 | 6.25% |
| 4 to 5 | 7.00% |
| 6 to 10 | 8.00% |
| 11 to 15 | 9.00% |
Aside from the very low interest rates, the Fantastic Elastic Home Loan allows borrowers to make advanced payments with no pre-payment penalties, and they can advance up to 25% of the principal. There is also a vacation month option, which means borrowers can skip a payment during tough times (once per year).
Security Bank is the only bank accepting full submission of home loan applications either online or via email, or through their branches, or directly through their experienced SPOC’s or single points of contact (home loan account officers).
Home loan applications also have minimal income requirements as compared to other banks. Requirements for employees would either be their latest ITR, or 3 months latest payslips, or Certificate Of Employment (COE). Just any one of these income documents is required, unlike other banks, which require at least two or all three of the above.
Clients can also just submit scanned copies of requirements, and the evaluation and approval of their home loan application can proceed, without the need to submit hard copies of the documents. This is very convenient and saves precious time, money, and gas.
I would like to thank Ms. Emy Arceo of Security Bank for sharing with us details of Security Bank’s Fantastic Elastic Home Loan.
Philippine Home Loan Interest Rates Comparison Chart Updated
I have also added Security Bank to our list of home loans in the Philippines, which tabulates the latest home loan interest rates from various banks and lending institutions. If you want to submit your bank’s interest rates, please do so through our contact page just like what Ms. Emy did. Thanks.
You can compare and see who offers the best home loan interest rates on our list through the link below :
P.S. If you haven’t tried our very own home loan / mortgage calculator, you can check it out here.
Sir Jay, Good day! I’m buying a house and lot, just finished reservation. They give me a sample computation with a loan from a certain bank, but I still planning if I could get a loan from a different bank with a lower interest rate with long fixed rates. They have said that if I did that I will be the one that would apply for a loan to the bank that Im planning to get a loan because they have already tie up with their bank. What do you think is the best option? or details that I need to know in choosing the bank that would help me in home loan? Thanks in advance and God bless! =D
Hi po,
My fiance and I will start paying the 10% downpayment and processing fee (85000) of our home which is valued at 1,880,000. We are paying the processing fee and downpayment in-house at zero interest for the first year. We are planning to pay by bank financing for the remaining years. It is the first time for us to apply for a housing loan. The developer is Hausland Realty and we initially wanted to get the loan from our bank BPI. It has come to our knowledge however that BPI can only loan 80% of the total amount. Also, there is a certain fee that BPI mentioned, a one time payment around 3,500 cash out if the bank is not a partner with the realty developer. Can you suggest what banks are open to offer us the loanable amount with only a 10% downpayment made on the property? Thanks!
Hello Jay, how’s the new billionaire in the making!!! Congrats for the success you made on this industry. When are you coming for vacation in Calgary? Just let me know, I can arrange a speaking engagement session with other Filipino in the area. My email add for other details: [email protected].
God Bless and best regards,
Bernard
Wow, nice to see you here Bernard! Sorry for the late reply, medyo madaming comments ang nag pile up. Sure, it would be great to see you when we visit Calgary! Balitaan kita, kwentuhan tayo diyan!
Your blog is starting to become my one-stop shop for real estate updates, trends and news.Good job!-Patrick Tan
Very timely update about Security Bank’s home loan rate offering, Jay!
Thanks Regie! By the way, we need to meet one of these days at BPI…
Just ring me, Jay. Thanks!