The Banco del Instituto Ecuatoriano de Seguridad Social (BIESS) announced on April 1 its updated Plan Credicasa 2.99%, offering Ecuadorian families the possibility of home ownership with loan terms extended up to 30 years.
The program aims to make it easier for more affiliates and retirees to purchase a home by allowing longer repayment periods, which lowers monthly payments and increases affordability. This measure is part of BIESS’s efforts to align with national government policies under President Daniel Noboa Azin.
According to the announcement, the plan provides financing for up to 100 percent of a home’s value for properties priced at or below USD 65,000. This eliminates the need for an initial down payment or prior savings, making it accessible for many who might otherwise be unable to afford a home.
The bank said that this initiative offers “the lowest interest rate in Ecuador’s credit history,” describing it as an unprecedented opportunity for housing access. The statement also noted that “with Credicasa 2.99%, BIESS not only offers a loan but a real opportunity to build a future with stability and well-being for Ecuadorian families.”
