Which credit card charges the least interest, according to the SBS?

Choosing the right credit card in a financial market saturated with options can be a tedious task. Therefore, the S.B.S. (Superintendency of Banking, Insurance and AFP) has simplified the work and offers a table that compares the interest rates of different financial entities.

In order for you to make an informed decision and not fall into debt, we show you which bank leads this list for being the one that offers the lowest rate. In addition, we will tell you the news regarding credit cards issued by municipal savings banks this 2024.

Which credit card is the cheapest, according to the SBS?

According to S.B.S.the classic credit card with the lowest interest rate, until January 17, is from Banco GNB, with 72.97%. Second place goes to Bancom, with 86.83% TCEA. On the other hand, Caja Cencosud Scotia has the highest interest rate, with 166.02%.

SBS: ranking of credit cards and their interest rates

We detail the list of rates for the credit cards for each financial institution until January 17, 2024.

Which banks will issue credit cards in 2024?

Municipal savings banks join the competition with the issuance of credit cards. Cusco Box has already taken the first step: since August 2023, it offers with a simplified process approved by the SBS.

For the first half of 2024, Caja Arequipa, Huancayo and Piura are expected to join the credit card offering. Jorge Solís, president of the Peruvian Federation of Municipal Savings and Credit Banks, told Andina that “interest rates will be competitive, but in a very limited way.”