Metrobank 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, Metrobank costs ₱377 less a month. Below: every term, your own car, and where each bank is ahead.

Lower monthlyMetrobank

Faster decisionSecurity Bank

Lends on second-hand carsSecurity Bank

Metrobank vs Security Bank rates by term

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

Pay over	Metrobank rate	Metrobank monthly	Security Bank rate	Security Bank monthly	Difference a month
12 months	5.19%	₱87,658	5.61%	₱88,008	₱350 less at Metrobank
18 months	7.61%	₱59,783	8.44%	₱60,244	₱461 less at Metrobank
24 months	10.74%	₱46,142	12.14%	₱46,725	₱583 less at Metrobank
36 months	16.90%	₱32,472	18.18%	₱32,828	₱356 less at Metrobank
48 months	23.55%	₱25,740	24.72%	₱25,983	₱244 less at Metrobank
60 months	30.26%	₱21,710	32.52%	₱22,087	₱377 less at Metrobank

Metrobank: add-on rate for the whole term. Security Bank: add-on rate for the whole term. Standard rates.

Metrobank vs Security Bank, point by point

Point	Metrobank	Security Bank
Interest rate, brand new	5.19% to 30.26% add-on	5.61% to 32.52% add-on
Monthly on ₱1,000,000, 60 months	₱21,710, about 10.9% a year	₱22,087, about 11.7% a year
Down payment	Minimum varies by vehicle type	From 20%
Loan term	12 to 60 months	12 to 60 months brand new; 12 to 48 months second hand
Loan amount	Minimum loan: ₱350,000	Loan amount, brand new: ₱400,000 minimum, up to 80% of the purchase price
Second-hand cars	Not stated by Metrobank	Yes, with its own rates
Minimum income	₱40,000 a month (family)	Security Bank decides case by case
Decision	As fast as 3 business days	1 banking day, brand new
Fees	DST ₱1.50 per ₱200; notarial ₱300 to ₱400	Security Bank lists them on the disclosure statement
Late payment	5% a month on the unpaid amount	Not stated by Security Bank
Paying early	₱7,500 pre-payment processing fee	Not stated by Security Bank
How to apply	Apply online, visit your nearest branch, or call the contact 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: Metrobank vs Security Bank

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

Metrobank

Filled-out and signed Metrobank Car Loan application form
One valid government-issued ID, preferably a passport

Metrobank 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

Metrobank or Security Bank: questions

Which is better, Metrobank or Security Bank car loan?

On the same ₱1,000,000 brand new car loan over 60 months, Metrobank costs ₱377 less a month (₱22,600 over the loan). Metrobank down payment: minimum varies by vehicle type; Security Bank: from 20%. Metrobank decision: as fast as 3 business days; Security Bank: 1 banking day, brand new.

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

Over 60 months for a brand new car, Metrobank charges 30.26% add-on (₱21,710 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, Metrobank or Security Bank?

Metrobank: Minimum varies by vehicle type. 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.