House Loan for Retired Individuals
Investment Plan
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· Restoration, extension, and house improvements (*)
· Personal Debt consolidation with Sugef supervised entities (*)
(*)Note: It applies for cases in which property is under retired individual name or lot usufruct given as guarantee belongs to the retired individual, spouse or both or one of them is part of its usufruct. In such cases, loan contract shall be executed by owners (holder of right of usufruct or “nudatorios”)
House Loan for Retired Individuals-Main Features:
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Addressed to: |
Costa Rican persons who enjoy a pension granted by CCSS, Tax Ministry, Magisterio Nacional (Teacher’s Institution) and other regime acknowledge in the country and pension deposit is made in BCR accounts. |
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Currency |
Colones |
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Maximum financing %: |
Up to 85% |
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Minimum financing amount: |
¢ 1.000.000.00 |
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Maximum financing amount: |
Up to ¢60.000.000.00 (Upon payment capacity and guarantee) |
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Guarantee: |
Mortgage / Open Mortgage |
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Loan Term: |
Up to30 for all usage |
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Commissions: |
Formalization: 1% over loan amount. |
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Interest Rate |
Fixed fee for first 10 years |
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Payment Way: |
Monthly installments, variable, successive, chargeable to due capital and interests. |
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Max. Indebtedness: |
10pp are added if salary earner and salary is deposited in BCR account. 10pp are added if 10 day in advance payment as per SUGEF during last twelve months. |
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Policies: |
1.FIRE INSURANCE 2. LIFE INSURANCE Note: Current insurance policies may be acquired through intermediaries and to insurance companies authorized by SUGESE (if complying with loan subscription requirements). For purchasing Total and Permanent Disability coverage, insured must be younger than 60 years old and must not be a retired individual due to disability in any of existing regimes. |
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Appraisal: |
50% of current cost (financed within loan amount). |
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Formalization Expenses: |
Financing formalization expenses, provided that there is enough payment capacity and guarantee. |
Other conditions:
· Owner of checking or savings account
· Affiliated to Bancatel and Bancobcr.com.
· Loan payment through automatic charge
· At least two utilities automatic charges
Whenever financing construction and guarantee covers 100%, please submit:
· Maps, drawings, permit and budget to know construction work and proof that customer is committed to project.
· Once construction works are done, customer shall pay thirty six ($36) for expert inspection.
Request your Loan now in any of BCR Branches
Interest Rate Liability Disclaimer
Interest rates are object to change at any time without previous notice due to financial market changes. For such a reason, information included in current web site is for reference purposes only. Any rate related to a specific transaction or business, shall be the effective rate as of formalization date.
For further information regarding interest rates, please call Customer Service Department at (506) 2284-6600 or write to ServiciosBancaElectronica@bancobcr.com.