Biess provides Credicasa mortgage loans at 2.99% interest

The Banco del Instituto Ecuatoriano de Seguridad Social (Biess) has disbursed more than $53.69 million through its Credicasa mortgage plan. As of August 12, 2026, the program has provided loans to 1,038 families.

The Credicasa plan offers a preferential interest rate of 2.99%, which is currently the lowest in the market. The initiative is part of government strategies to facilitate access to homeownership for affiliates and retirees.

Eligibility requirements include:

• Affiliates under dependency: 36 total contributions, with at least 13 consecutive. • Voluntary affiliates: 36 consecutive contributions. • Retirees: Must be receiving their pension. • Persons with disabilities: A total of 18 contributions.

Additional conditions specify that the property must be a new, single-use residence with no commercial purposes and a commercial appraisal of $71,504.70 (equivalent to 148.35 SBU). Applicants must be under 77 years of age and cannot have existing mortgage loans or outstanding debts with IESS or Biess.