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Tag: municipal boxes

Competition for Yape and Plin: municipal savings banks will launch digital wallet and microcredits

Competition for Yape and Plin: municipal savings banks will launch digital wallet and microcredits Competition for Yape and Plin: municipal savings banks will launch digital wallet and microcredits

Digital wallet of microfinance institutions will allow transfers for S/500 a day, as well as other benefits for users. Learn more about how this application will operate. In June 2023 the 11 microfinance entities that make up the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC) will launch a unique digital wallet with certain […]

Municipal savings banks will provide microcredits of up to S/200 through their digital wallet

Municipal savings banks will provide microcredits of up to S/200 through their digital wallet Municipal savings banks will provide microcredits of up to S/200 through their digital wallet

The annual interest rate will be almost 40% lower than that offered by Yape. The municipal boxes They will launch their digital wallet in June of this year and will have most of the options that other similar applications have. One of these are microcredits that, in the case of these entities, will be called […]

Banco de la Nación: how much is your mortgage loan and what is the interest rate?

Banco de la Nación: how much is your mortgage loan and what is the interest rate? Banco de la Nación: how much is your mortgage loan and what is the interest rate?

This bank offers one of the most convenient rates in the financial market and favorable conditions for those who aspire to have their own home. Take note! Mortgage loans are in wide demand in banking entities, which allow the acquisition, repair or expansion of a property, normally intended to convert it into living place. In […]

Municipal savings banks will launch their own digital wallet in June

Municipal savings banks will launch their own digital wallet in June Municipal savings banks will launch their own digital wallet in June

The offer grows. Application would reach almost 10 million users and will compete with Plin and Yape. They are also waiting for the law to be passed that makes it easier for them to issue credit cards. The municipal savings banks are preparing to launch their own electronic wallet in June and it will be […]

Term deposits give rates of 9.25% to capture bonuses

Term deposits give rates of 9.25% to capture bonuses Term deposits give rates of 9.25% to capture bonuses

The municipal savings banks expect to capture around S/21,000 million in fixed-term deposits this 2022, according to the projection of the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac). Considering that more than 4 million workers will receive their gratuities and taking into account the current social and economic context, the fixed-term deposit becomes […]

Juan José Marthans: “Microfinance institutions urge a new strategy to follow”

Juan José Marthans: “Microfinance institutions urge a new strategy to follow” Juan José Marthans: “Microfinance institutions urge a new strategy to follow”

Yesterday concluded the International Microfinance Seminar in Arequipa. The theme was “Humanizing digital transformation”. How is our microfinance front? It is urgent that our microfinance institutions consolidate a strategic vision. Beyond the challenging economic environment, they are losing distance from the competition that increasingly comes from the banking and technology front. But what is the […]

Jorge Solís: “Financial inclusion must be on the public agenda”

Jorge Solís: “Financial inclusion must be on the public agenda” Jorge Solís: “Financial inclusion must be on the public agenda”

The president of Caja Huancayo, Jorge Solís, explains the environment in which microfinance institutions operate and the impact of the COVID-19 pandemic on the exit of thousands of clients from the financial sector. Hence, he demands to prioritize financial inclusion, but with specific rules and policies. What is the situation of microfinance institutions? The pandemic […]

Savings banks could reach 800,000 potential credit card customers

Savings banks could reach 800,000 potential credit card customers Savings banks could reach 800,000 potential credit card customers

After Congress encourage microfinance institutions to issue credit cards, the president of Caja Huancayo, Jorge Solís, reported that the Savings Banks are ready to offer this service. In addition, it indicated that the average rate they would charge would not exceed 35%. “We have 40 years in the market and good financial indicators. We could […]

Credit cards: municipal savings banks would charge interest rates of 36%

Credit cards: municipal savings banks would charge interest rates of 36% Credit cards: municipal savings banks would charge interest rates of 36%

To date, only ten banks and three finance companies are authorized to issue credit cards, whose rates range from 86.48% to 141.9% (see infographic), according to a report from the Superintendency of Banking, Insurance and AFP (SBS). In this context, from the Congress They are looking for municipal savings banks to enter the competition for […]

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