The average rate at Caja Arequipa is 18%, so new consumer loans will reach 19-20%, much less than the 80% that the financial system manages today, led by banks.
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During the International Microfinance Seminar-SIM Ica 2024, the central business manager of Caja Arequipa, Wilber Dongo, explained that 4 categories of credit service have been designed that will be according to the level of debt that its clients have.
“Initially, we have chosen no more than 10% of the highest line we have. If the client has a debt of S/100,000, we could give them a plastic for 10,000 for expenses in restaurants, clothing, etc.,” he said for La República .
The rates for the cards will be slightly higher than those offered for their previous credits.
The average rate at Caja Arequipa is 18%, so new consumer loans will reach 19-20%, much less than the 80% that the financial system manages today, led by banks.
Last March, the Congress of the Republic approved Law 31711, which enables municipal savings banks to issue credit cards without prior authorization from the Superintendence of Banking, Insurance and AFP (SBS). However, Dongo pointed out that the Arequipa institution has chosen to voluntarily receive advice from the regulator.
The Arequipa card will be the third in the system, after Cusco and Piura, which are more restrictive. The launch of the product, which does not yet have a name, will take place in the anniversary month of the White City.
Written and digital press journalist, graduated from the Federico Villarreal National University (UNFV). Currently, in La República, where he writes about economics, with emphasis on hydrocarbons, mining and social conflict.
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.
