The main option will be debt transfer. Clients will be able to choose payment terms of up to 25 years, as well as receive advice to help them achieve their dream of owning their own home.
In an effort to alleviate the financial burdens of public sector workers and pensioners, Banco de la Nación (BN) announced the reduction in interest rates on its mortgage loans, with the main focus being on the debt transfer modality. The new annual effective cost interest rates would range from 7.62%, the institution reported.
“Imagine a mortgage loan of S/360,000 in the form of debt transfer for 25 years. In this case, the approximate monthly payment would be S/2,650, with an Annual Effective Cost Rate (AER) of 7.62%,” said Cecilia Arias, manager of Products and Financial Inclusion at BN.
And one of the main advantages of the product is that customers can opt for payment terms of up to 25 years. Also, They are offered the possibility of making double payments in July and December to facilitate the management of their personal finances. In addition, advice is provided so that they can have 25% of their AFP fund available to supplement their initial quota.
Arias highlights that the new interest rates would improve credit conditions, allowing customers to get closer to the dream of owning their own home thanks to greater financial stability. In this regard, public sector workers or pensioners will be able to access BN mortgage loans.
Source: Larepublica
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