The Banco de la Nación (BN) signed an inter-institutional collaboration agreement with the Provisional Standardization Office (ONP) earlier this month. The financial institution, as part of this agreement, will create the Platinum Bankingwhich will allow more than 600,000 pensioners to access loans of between S/3,000 and S/40,000.
The president of the BN, Juan Carlos Galfré, said that the rate of these credits “is quite low” in comparison with the interest offered by the market for this service. “They are below the rate for a normal consumer loan,” he said. For example, a loan of S/5,000 for 12 months currently has rates between 29.7% and 106.3%, according to the SBS.
Characteristics and requirements
One of the main characteristics of these loans is that they will have lien insurance in case something happens to the credit holder so that their relatives are not left with debts to pay. Now, this rate for adults over 84 years of age is 1.33% on the debit balance.
Banco de la Nación offers loans to pensioners with rates below the market average. Photo: diffusion.
Platinum Banking credits will not have an age limit for the beneficiaries either. The BN explained that to date it has around 99,000 ONP pensioners who have credits, of which 783 are over 90 years of age.
In addition, 96% of debtors are paying their obligations without problems. In order to access these credits, the insured must collect their pension from the BN; In addition, they will have to present the original of their ID and the original and copy of their last payment slip. Finally, they must approach the bank to evaluate their case.
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