How many contributions are needed to make a BIESS home loan?

The mortgage loan from the Bank of the Ecuadorian Social Security Institute (Biess) allows you to acquire your own home, land, commercial premises, office or doctor’s office; also, for the construction of a house or apartment, expansion or remodeling.

As of September 2021, the Biess had delivered $ 432 million in more than 7,200 mortgage loan operations.

This loan can be accessed by members with or without a dependency relationship, voluntary members, as well as retirees due to old age, disability or disability.

Those interested in this type of loan can check online if they pre-qualify. Among the requirements is to have a minimum number of contributions.

Prequalification requirements for affiliates

• The affiliate must have thirty-six (36) contributions in total.
• Members with a dependency relationship must have at least 13 consecutive contributions, in the case of members without a dependency relationship and voluntary members at least 36 consecutive contributions, these contributions do not necessarily have to be with the same employer.
• Not having dividends pending payment with the IESS or Biess, in any of their credit products.
• If you are the legal representative of a company, you should not have pending obligations.
• Be within the required age limit (up to 77 years).
• Your current employer must not belong to the zafra.
• Your current employer must not belong to the Rural Social Security.
• Not having a current mortgage loan acquired under the portfolio purchase or rediscount modality with the IESS or Biess.
• Not having any application in process for any type of mortgage loan with Biess.
• Not having a home construction line of credit in progress and / or inactivates the amortization table of the mortgage loan granted.
• Not having amounts pending payment for instrumentation expenses in canceled mortgage loan applications with Biess.
• Not being registered in the IESS database with a degenerative disease.
• Approve the credit rating of the Biess.

Prequalification requirements for retirees

• The old-age pensioner or retiree must be in possession of a pension granted by the IESS.
• Not having overdue obligations with the IESS or Biess.
• Not having dividends pending payment with the IESS or Biess, in any of their credit products.
• Not having a current mortgage loan with the IESS or Biess in default.
• Not having a current mortgage loan acquired under the portfolio purchase or rediscount modality with the IESS or Biess.
• Not having any application in process for any type of mortgage loan with Biess.
• Not having a home construction line of credit in progress and / or inactivates the amortization table of the mortgage loan granted.
• Not having amounts pending payment for instrumentation expenses in canceled mortgage loan applications with the IESS or Biess.
• Not having current obligations as guarantor or guarantor for mortgage loans for voluntary members.
• Not being registered in the IESS database with a degenerative disease.
• Approve the credit rating of the Biess. (I)