The Banco del Instituto Ecuatoriano de Seguridad Social (BIESS) announced on April 1 a new phase of its Credicasa home loan program, offering financing terms of up to 30 years. The plan is designed to make it easier for more affiliates and retirees to purchase a home by lowering monthly payments and increasing payment flexibility.
The initiative aims to expand access to housing for thousands of Ecuadorian families by aligning with national government policies. By extending the repayment period, BIESS seeks to reduce financial barriers that often prevent people from owning their own homes.
According to the announcement, BIESS will finance up to 100 percent of the value of homes priced at up to USD 65,000. This eliminates the need for a down payment or prior savings. The bank also said that this program offers “the lowest interest rate in Ecuador’s credit history,” presenting what it calls an unprecedented opportunity for housing access.
“With Credicasa 2.99%, BIESS not only offers a loan but also a real opportunity to build a future with stability and well-being for Ecuadorian families,” the statement said.
This latest move is part of ongoing efforts by BIESS and national authorities led by President Daniel Noboa Azin, aiming at greater social inclusion through improved access to affordable housing options.
