He Social Security Bank (BPS) will reduce the rates by four points interest rates applicable to the social loans which will be granted starting next Monday, with the aim of facilitating access to financing for beneficiaries who receive pension benefits.
There are more than 200,000 people who currently have current loans from the institution. “Optimizing management allows us to reduce the costs costs, reducing operating costs and not getting a revenue, That is not the point, because they are social loans,” said the president of the BPS, Alfredo Cabrera.
Cabrera said that of the 200,000 people who pay loans to the bank, about 10,000 have more than six open loans. “In this last case, they will be offered, starting in September, a single 36-month loan, extraordinary, at an interest rate of 28%,” he said.
The president of the BPS added that “those people who have a level of indebtedness higher by number of loans, starting in September they will be able to unify everything in a single voucher, with a longer term and a discounted rate of four points, benefiting from the reduction that we make in all other cases.”
What are the BPS interest rates?
In this way, after the approval of the measure by the board, the liabilities Those who apply for a new loan for six months will have to pay a rate of 23.5%. Those who apply for a 12-month loan will be charged 26.5%, while those for 18 and 24 months will be charged 28%.
Those who have cancelled at least 40% of the original amount may renew their application. In this case, the conditions of the previous application will be eliminated and they will have access to the new rates, reported the BPS authorities.
People interested in any of these options will be able to simulate, request, renew and view information on previous loans through the online service. Manage my loans on the bank’s website, which they access with their personal BPS username.
In addition, in person, you can go to the Social Loans office in the headquarters building in Montevideo, with scheduled date.
Cabrera confirmed that, in addition to collecting loans at any branch of Abitab, Redpagos or ANDA In Montevideo and the interior, the holders can also request them there. In case of requesting them by proxy, they must go to the BPS office to prove their identity.
Source: Ambito
