Get a place to live It is the dream of many people. However, a large number of factors prevent buying a home for cash from being a reality for a majority of the population. However, a very convenient option to comply with this is mortgage loans. In this note, we show you from smallest to largest the interest rate offered by each banking entity so that you can access the one that suits your budgetin case you opt for this alternative to get your own home.
Mortgage loan: which bank offers the lowest interest rate?
Until October 16 of this year, according to information released by the Superintendency of Banking, Insurance and AFP (SBS), the banking entity that offers a lower interest rate compared to financial centers is the BBVAwhich stands at 8.51% annually
It should be noted that the average interest rate, in terms of mortgage loans in soles in banking entities, currently concerns 9.14%, an amount that, compared to 9.88% in December of last year, represents a drop of 0.74%. Likewise, in line with the average interest rate on mortgage loans in soles, this figure stands at 15.29% which, unlike the 13.79% at the end of 2022, shows a growth of 1.5%.
| Financial entities | Annual rate (%) |
| BBVA | 8.51% |
| Interbank | 9.03% |
| Scotiabank | 9.05% |
| GNB Bank | 9.12% |
| BCP | 9.20% |
| Banbif | 9.63% |
| Pichincha Bank | 10.18% |
| Commerce Bank | 10.74% |
| Huancayo Box* | 12.71% |
| Crediscotia Financial | 13.50% |
| Trujillo Box* | 13.78% |
| Ica Box* | 14.26% |
| Arequipa Box* | 14.38% |
| Maynas Box* | 14.44% |
| Cusco Box* | 14.73% |
| My bank | 17.47% |
*It should be noted that interest rates in banks are updated until October 16, while in municipal savings banks the information recorded on the SBS website appears until the last month of August.
Which banks offer mortgage loans?
Currently, there are nine banking entities that offer this benefit, each with its own requirements. Likewise, there are eight municipal savings banks and one financial institution that offer mortgage loans in the country.
What is the difference between a mortgage loan and a mortgage loan?
Although when talking about mortgage credit and mortgage loans it seems that we are talking about the same thing, this is not the case.
In the case of the mortgage loan, the banking entity provides all of the required financing; Therefore, the interest rate is given based on the entire amount requested.
As for mortgage credit, the money is granted gradually as it is needed. The same thing happens with the interest rate, which is generated according to each amount of capital that is used.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
