Access a Loan without credit history in Peru It can be a challenge for many people looking for financing for the first time. Most financial banks and entities prioritize customers with a proven history, which hinders approval for those who have never requested credit or credit cards.
However, there are alternatives for those who wish to obtain a loan without financial history. From traditional institutions to specialized ‘Fintechs’, various options allow access to considerable amounts under certain conditions. In this article, we explain where to request these loans and how to improve your probabilities of approval.
Where to request a loan without credit history in Peru?
Next, we present the main financial entities in Peru that offer loans to people without Credit historytogether with its requirements and conditions.
Financial effective
This entity allows access to immediate loans of up to S/6,000 without the need to demonstrate credit history. Payment deadlines can extend up to 18 months and the interest rate varies between 50% and 83.64% ASD. It is a viable option for those who seek rapid financing without complicated procedures.
Interbank
If you have a savings or salary account in Interbank, you could be eligible to request your first personal loan. This credit can be paid within a maximum period of 60 months and the application can be made through mobile banking, which facilitates access without the need to go to an agency.
Alfin (former Azteca)
Alfin offers loans without the need to submit income vouchers, which facilitates access to credit for independent workers. The entity evaluates payment capacity through factors such as postpaid or cellular telephone lines acquired on credit. The amounts range from S/500 and the deadlines can reach 36 months.
Prestamype
This Fintech specializes in loans with a mortgage guarantee, which allows to obtain amounts ranging between S/20,000 and S/1,000,000. Their credits are available for both people without credit history and for those reported in Infocorp. The payment period varies between 1 and 4 years, with an interest rate from 16 % TCEA.
Comparison between financial entities
| Financial entity | Available amount | Maximum Plaza | Requirements | Interest rate |
|---|---|---|---|---|
| Financial effective | Up to S/6,000 | 18 months | No credit history | 50% – 83.64% tea |
| Interbank | Variable | 60 months | Savings or salary account | According to evaluation |
| AlfÃn | From S/500 | 36 months | No income proof | Risk Assessment |
| Prestamype | S/20,000 – S/1,000,000 | 1 – 4 years | Mortgage guarantee | Since 16% tcea |
Tips to improve your credit history and get a loan
If you still do not have financial history and want to increase your chances of obtaining a loan without credit history, consider the following strategies:
- Request an insured credit card: these cards require a deposit as support and allow you to start building your history.
- Pay your invoices promptly: services such as light, water, telephony and the Internet can be considered in some credit evaluations.
- Avoid overgiving yourself: If you acquire a small card or loan, be sure to use only a low percentage of the approved limit to avoid indebtedness.
- Request small loans and pay them in time: Opt for low -amount loans with timely payment will improve your qualification before financial entities.
What types of loans agree if I have no credit history?
If you do not have a credit history, you can opt for various alternatives to access financing. Next, we explain the most recommended types of loans for people without financial history.
Loans backed by guarantees
This type of financing requires leaving a tangible good as support, which reduces the risk for the financial entity and facilitates credit approval. You can use a vehicle, a property or any value asset as a guarantee.
Loans with endorsement
In this modality, a third person with a good credit history undertakes to assume the payment in case of non -compliance. Having an evaluation increases the probability of approval and allows access to better conditions, such as lower interest rates.
Loans offered by small financial entities
Some municipal boxes, cooperatives and Fintechs offer credits to people without credit history. These entities evaluate factors such as employment, regular income and financial stability to determine the eligibility of the applicant.
What is a credit history in Peru?
The credit history is a financial record that reflects a person’s responsibility in the management of debts and payments. This report details key information, such as:
- The amount of loans or loans acquired.
- Types of financing used (credit cards, personal loans, mortgages, etc.).
- Deadlines and payment amounts established in each credit.
- Compliance with registered payments and delays.
In Peru, risk centrals such as Infocorp, Sentinel and Equifax collect and store these data so that financial entities can evaluate the reliability of applicants.
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.
