Taking the step towards owning your own home is a desire shared by many, and mortgage loans are one of the ways to make it a reality. Discover in this guide the banks and savings banks that stand out for offering lower interest rates, according to information from the S.B.S. (Superintendency of Banking, Insurance and AFP).
We provide you with a clear and practical overview of each financial institution so that you can compare interest rates and make an informed decision to purchase your ideal home.
Which bank has the cheapest mortgage loan?
By exploring the available options, the GNB Bank stands out as a leader by offering the Annual Effective Credit Rate (AER) lower for a mortgage loan of S/120,000 for 15 years, with 14.13%according to the report of the Superintendency of Banking, Insurance and AFP (SBS) until January 17, 2024. Second place is occupied by BCP with 14.82%, and third is Caja Arequipa with 15.15%.
Mortgage credit: the ranking of banks and savings banks that offer lower rates
Below, we show you the list with the most interesting rates for a mortgage loan of S/120,000 for 15 years.
| ENTITY | TCEA |
| GNB Bank | 14.13% |
| Credit Bank | 14.82% |
| Arequipa Box | 15.15% |
| Pichincha Bank | 15.38% |
| Scotiabank Peru | 15.43% |
| CMCP Lima | 15.53% |
| Interbank | 15.88% |
| BBVA | 16.97% |
| CrediScotia | 17.98% |
| Banbif | 18.16% |
| Tacna Box | 18.36% |
| Huancayo Box | 18.39% |
| Ica Box | twenty % |
| Trujillo Box | 20.95% |
| Vívela credit company | 26.01% |
| Piura Box | 28.63% |
| My bank | 37.42% |
What is TCEA?
The Annual Effective Cost Rate (TCEA) includes all administrative costs, such as fees and insurance, providing a complete view of the true cost of the loan.
Understanding the TCEA is essential to evaluating the affordability of credit, as it reflects the actual debt. By asking about TCEA, you ensure full transparency and make it easier to compare available options.
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.
