BDO vs Security Bank car loan 2026

By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.

On the same ₱1,000,000 brand new car loan over 60 months, BDO costs ₱593 less a month. Below: every term, your own car, and where each bank is ahead.

Lower monthlyBDO

Lower down paymentTie

Faster decisionTie

BDO vs Security Bank rates by term

Brand new car, ₱1,000,000 loan. The lower monthly payment at each term is marked.

Pay over	BDO rate	BDO monthly	Security Bank rate	Security Bank monthly	Difference a month
12 months	7.50%	₱86,757	5.61%	₱88,008	₱1,251 less at BDO
18 months	8.00%	₱59,140	8.44%	₱60,244	₱1,104 less at BDO
24 months	9.25%	₱45,800	12.14%	₱46,725	₱925 less at BDO
36 months	10.00%	₱32,267	18.18%	₱32,828	₱561 less at BDO
48 months	10.25%	₱25,483	24.72%	₱25,983	₱501 less at BDO
60 months	10.50%	₱21,494	32.52%	₱22,087	₱593 less at BDO

BDO: yearly rate on the balance. Security Bank: add-on rate for the whole term. Standard rates.

BDO vs Security Bank, point by point

Point	BDO	Security Bank
Interest rate, brand new	7.50% to 10.50% a year	5.61% to 32.52% add-on
Monthly on ₱1,000,000, 60 months	₱21,494	₱22,087, about 11.7% a year
Down payment	From 20%	From 20%
Loan term	Up to 5 years for personal use, 3 years for business use	12 to 60 months brand new; 12 to 48 months second hand
Loan amount	Minimum loan: ₱100,000	Loan amount, brand new: ₱400,000 minimum, up to 80% of the purchase price
Second-hand cars	Yes, with its own rates	Yes, with its own rates
Minimum income	₱50,000 a month (family)	Security Bank decides case by case
Decision	Within 24 hours	1 banking day, brand new
Fees	DST ₱1.50 per ₱200; LTO encumbrance ₱380; notarial ₱500 a document	Security Bank lists them on the disclosure statement
How to apply	Submit the application form and documents online or at any BDO Loans Center	Apply online or at your nearest branch

Documentary stamp tax of ₱1.50 per ₱200 of the loan is a national tax and applies at every bank.

Requirements: BDO vs Security Bank

What each bank asks an employed borrower for. Business owners and OFWs: see each bank's page.

BDO

Completely filled-out application form
Photocopy of one valid ID matching the application, such as driver's license, passport, TIN ID, SSS ID or GSIS eCard

BDO car loan in full

Security Bank

Signed car loan application form
Valid government ID with signature and photo for borrower, spouse, co-borrower and co-maker: one primary or two secondary IDs
Dealer quotation
Used or imported units: OR/CR, deed of sale, PNP clearance and macro etching certificate; import papers for imported units

Security Bank car loan in full

BDO or Security Bank: questions

Which is better, BDO or Security Bank car loan?

On the same ₱1,000,000 brand new car loan over 60 months, BDO costs ₱593 less a month (₱35,566 over the loan). BDO down payment: from 20%; Security Bank: from 20%. BDO decision: within 24 hours; Security Bank: 1 banking day, brand new.

Which has the lower car loan rate, BDO or Security Bank?

Over 60 months for a brand new car, BDO charges 10.50% a year (₱21,494 a month on ₱1,000,000) and Security Bank 32.52% add-on (₱22,087). Compare the monthly payment, not the rate, when the two banks charge interest differently.

Which needs a lower down payment, BDO or Security Bank?

BDO: From 20%. Security Bank: From 20%.

More bank comparisons

Not set on these two? Answer 5 questions to see the three car loans that fit you best.

How we compare car loans.