Security Bank Solar Loan: Financing Home Solar
TL;DR
Security Bank funds home solar through general-purpose consumer lending rather than a dedicated solar product — typically a personal loan or borrowing secured against property. Compare the total repayable against Pag-IBIG, which is usually cheaper for members, and against your monthly electricity saving.
Security Bank, like most Philippine commercial banks, funds home solar through general-purpose consumer lending rather than a product built specifically for it. You borrow, you state the purpose, and you pay for the installation.
That makes the choice less about finding the right branded product and more about picking the right structure — and then comparing the total cost against the alternatives properly.
No rates are quoted here on purpose. Pricing changes and depends on your profile. Get a written quotation from Security Bank showing the effective rate and the total repayable.
Which structure fits
Unsecured personal loan. No collateral, faster approval, higher cost. Suits smaller systems, borrowers without property to pledge, and anyone who wants the decision made quickly. Terms are typically shorter, so monthly payments are higher but total interest is lower than a long secured loan.
Secured against property. Cheaper, longer, slower. The bank takes less risk and prices accordingly. The trade-off is real: your home is collateral, and lengthening the term reduces the monthly payment while increasing the total interest paid.
Installer in-house financing. The alternative you are implicitly comparing against. Convenient, often quick, and frequently more expensive than a bank once the effective rate is worked out. Our solar financing options guide covers the full landscape.
How much do you actually need?
Most Philippine residential systems land in this range:
| System size | Typical installed cost |
|---|---|
| 2kW | ₱130,000-175,000 |
| 3kW | ₱150,000-250,000 |
| 5kW | ₱250,000-400,000 |
| 6kW | ₱300,000-450,000 |
Borrow against a firm, itemised quotation, not an estimate. If you borrow against a rough figure and the final invoice is higher — because the roof needed reinforcement, or net metering fees were not included — you are short at exactly the wrong moment. Our net metering cost guide covers the fees that most often get left out.
What the application needs
- Valid ID and proof of address
- Proof of income: payslips and certificate of employment, or ITR and financial statements if self-employed
- Recent bank statements
- Property documents if the loan is secured
- The installer’s itemised quotation
- A recent electricity bill, commonly requested
Check Pag-IBIG first
For members who qualify, Pag-IBIG generally prices below commercial lenders for home improvement purposes. It is worth checking before committing to a bank simply because the difference over a multi-year term can be substantial. See our Pag-IBIG solar loan guide; government employees should also compare the GSIS Ginhawa loan.
Banks earn their place on speed, on flexibility of purpose and amount, and for anyone outside those schemes.
The comparison that decides it
Set the monthly repayment against the monthly electricity saving.
A well-sized system typically removes around 90% of a bill — not all of it, since fixed charges remain and night-time use still comes from the grid without a battery. If your bill is ₱9,000 and solar removes ₱8,000, then any repayment below ₱8,000 leaves you better off each month while you build equity in an asset that keeps producing long after the loan is repaid.
If the repayment sits well above the saving, the deal still may be worth doing — panels last 25 years and the loan does not — but you should choose that knowingly. Buy vs finance solar works through both scenarios, and payback period shows how financing costs shift the break-even point.
Get the total repayable from at least two lenders before signing anything. That single number, not the advertised rate and not the monthly payment, is what tells you which offer is actually cheaper.
Frequently asked questions
Does Security Bank offer a solar loan?
There is no widely marketed product named specifically for solar. Homeowners generally use a personal loan or a facility secured against property, with solar as the stated purpose. Confirm what is currently available directly with the bank.
What rate should I expect?
Rates vary by product, term, security, and borrower profile, and they change. Ask for a written quotation showing the effective interest rate and the total amount repayable over the full term rather than relying on any published figure.
How much can I borrow for solar?
Enough for a typical residential system is well within normal consumer lending limits — most Philippine home systems fall between roughly ₱150,000 and ₱450,000 installed. Your own limit depends on income and existing obligations.
What documents are required?
Standard consumer lending documents: valid ID, proof of income such as payslips or an ITR, and bank statements. Property documents if the loan is secured. An itemised installer quotation and a recent electricity bill are commonly requested too.
How long does approval take?
Unsecured personal loans are typically the quickest, often days to a couple of weeks. Anything secured against property takes longer because of valuation and documentation. Factor this into your installation timeline.
Should I use a bank loan or installer financing?
Compare the total repayable, not the monthly payment. Installer in-house plans are convenient and frequently cost more overall once you work out the effective rate. Ask both for the total figure and choose on that.