What happens if I have a Yape loan and I don’t have a balance at the time of the automatic payment?

Since its market launch in 2016, the use of the direct payment application, Yape, has added more and more functionalities that have allowed it to become one of the most used apps in Peru. Among the many options it offers, one of the most convenient for users is the one that provides loans ranging from S/150 to S/500.

These microcredits They will be limited to a term of not less than 15 days and not more than 35 days. However, a recurring problem in those who opt for this option occurs when the application must perform the automatic payment and the person who owns the device does not have a balance in the app. Find out what consequences it could have.

What happens if I don’t have a balance to pay off my loan?

1. An attempt is made to make the automatic debit of the entire fee in your Yape account.
2. If you do not have a balance and do not pay your credit, an attempt is made to charge your other BCP accountsin order to minimize interest, the next day.
3. If you do not have a sufficient balance in any of your accounts, an attempt will be made to debit in the following days with the accrued interest surcharge for the days in arrears.

What should I take into account if I am going to make a loan through Yape?

The loans that bestows Yape They are subject to the fact that the user has, among some requirements, a good credit rating and a pre-approved offer to access this benefit. However, you must take into account some aspects:

• Share: The credits in Yape are subject to only one fee in which you will pay the amount requested plus the interest generated.
• Payment date: When you request it, you can choose your payment date from among five available options.
• Way to pay: The payment will be made through an automatic collection on the account registered in Yape. If you would like to pay it in advance, you can make your payment in mobile banking, internet banking, agent or a BCP agency.​