Yape 2023 loan simulator: How does it work? – El Tiempo Newspaper

Since its launch in 2017the Yape mobile application of the Banco de Crédito del Perú (BCP) has experienced significant growth, being used by more than 10 million users for various financial transactions, including transfers, recharges and payments for services. One of the most outstanding products of Yape is your loan simulatorwhich allows users to calculate the interest rate before applying for a loan.

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How does the BCP Yape loan simulator work?

Step 1: Access the Loan Simulator – Yape

To use the Yape loan simulator, log in to the application and look for the option “Loan Simulator”. This step will take you to the interface where you can calculate your loan.

Step 2: Select the Amount and Payment Term

Slide the cursor to the bottom of the screen, where you will find the options to choose the amount of credit you need and the number of days you will have available to make the payment. Yep It offers amounts ranging from S/100 to S/500, with payment terms ranging between 15 and 35 days.

Step 3: Obtain the Annual Effective Cost Rate (ACER)

After selecting the amount and term, the platform will automatically calculate the Annual Effective Cost Rate (ACER), providing you with the necessary information about the total cost of your loan.

Requirements to obtain a Yape credit

To access the Yape credit from BCP, you must meet certain requirements:

Be affiliated with Yape with a BCP card or with a Yape Account with a DNI.

Have updated contact information, such as address and cell phone number, registered with the BCP.

Have an active debit card without blocks.

Demonstrate good credit history and financial behavior.

Have a pre-approved offer to access the loan immediately.

How to request a Yape credit of up to S/500?

The process to request a loan through Yape is simple and fast. Here we explain the steps:

1. Access the option “Credits” within the FINANCES section in the Yape application.
2. Select the amount and payment date that fit your needs.
3. Verify all the details of the loan, such as the number of installments, the requested amount and the payment method.
4. Enter the validation code received to confirm the loan 100% online.
5. You will receive the credit amount in your mobile application, immediately reflecting in your balance.

It is important to highlight that the Yape credit It is given primarily to those with a good credit history, but it is also crucial to keep your digital wallet active with regular transactions to improve your chances of approval. Also, keep in mind that the hours to request the loan are from Monday to Sunday, 5 a.m. a 11 p.m.and the TCEA may vary depending on the applicant’s profile.

In summary, the BCP Yape loan simulator offers users a practical tool to calculate the interest rate before applying for credit, providing transparency and ease in the process. Take advantage of this option to obtain fast and secure credit through your digital wallet! Yep!