Yape provides credits from S/50 to S/10,000: what requirements do I need?

They are around 13 million Peruvians are affiliated with the Yape digital wallet app; and today, at least, they are 10 million transactions recorded by this BCP bank application. Among this fluidity of transactions and potential clients, Christína Saavedra, the leader of Préstamos Yape, indicated in an interview for Retail Perú that 1 in 3 Yape clients have formalized a loan through the BCPwhich opened a gap to think about how your clients can apply for loans in the easiest, fastest and safest way.

This is how it was created Yape Creditsthe financial loan service that offers from S/50 to S/10,000, with different payment options and interest rates that depend on your profile. We tell you how to access one from your cell phone.

How do I know if I can apply for a Yape loan?

Previously, Yape only offered credits but of a lower rank and with fewer options to pay it and different requirements. The amounts vary between S/100 and S/500 and you have the obligation to pay it in a single installment. This rule is no longer necessary for this new service, since now you can obtain loans with better options and a more secure debt record.

This is what you must verify so that you can access a Yape loan:

• You must be a Yape user: It sounds obvious, but if we are not affiliated with the digital wallet through an app, we will not be able to enjoy the service.
• Update: We must keep our information active regarding home address, cell phone number and BCP account.
• Credit history: If you have a good credit record, we can more easily obtain a loan amount.
• Pre-approved offer: refers to approval of your financial behavior. If you have a good history, with stable income and no blockages, the bank, in this case BCP, will agree to approve you a loan via the internet, which in our case is Yape.

How to request it?

It is very easy, but first you should know that Yape does not serve during the early hours of the morning, which runs from 12 am to 4:59 am; After that time, the Yape app will function normally.

• Access the app from your mobile phone.
• On the main screen, boxes will appear above your movements. Among them is the Credits option.
• After the screen loads, you will be able to see the ‘Request credit’ button, click it to continue.
• You enter the amount you want depending on the limit that Yape leaves you, and then your payment schedule.
• You verify the data and accept the conditions if you agree.
• Validate your loan with the code that will be sent to your email inbox.

What if I can’t access a loan?

This is because you do not have a pre-offer of credit approved by BCP Bank, and therefore you cannot be given access to a loan. But you can follow the following tips to achieve one.

• Pay for services: although it may not seem like it, paying your water, electricity and internet services on time helps a lot to ensure that your financial credit is good for the financial institution.
• Use Yape frequently: every transaction counts, adding to your credit value.
• Credit offer approval: ask BCP to approve a pre-credit offer so that you can access the loan.

What happens if I don’t pay on time?

If you do not pay on time, Yape will increase the interest rate on your loan, harming your situation. Therefore, it is recommended that you are in a financially stable moment to apply for a loan.

If you agreed to a loan for one of your BCP accounts and you do not have funds, the bank will charge your other accounts so that the days do not accumulate and the interest rate increases.