If you are thinking of purchasing a crediteither to buy a good, or simply because you have an economic need, the Superintendency of Banking, Insurance and AFP (SBS) provides some recommendations before applying for this loan.
Choose the best. Compare the interest rates offered by financial institutions. This way you can choose the one that suits you best.
Check the rates. Always consult for the Annual Effective Cost Rate (TCEA) this reads indicates what the real cost of credit is, including charges for commissions or expenses.
Analyze what they offer you. Read the contract, summary and/or rate sheet. Find these documents on the web or network of agencies of each financial institution.
Be thorough. Review the summary sheet attached to the credit agreement in detail. This document is important because it indicates exactly the cost of commissions, expenses or other concepts associated with the credit.
The SBS also has a tool that allows it to identify the prices of the main financial products and choose them in an informed manner. You can find such information at https://www.sbs.gob.pe/app/retasas/paginas/retasasInicio.aspx?p=C
