Banco Pichincha review

The flexible savings account pays a variable annual rate of 4.75%, and interest is credited daily on the balance. Because the rate is variable, it can move during the life of the account, so the headline figure is a starting point rather than a promise. The account is an easy access one, so there is no term to serve.

The monthly fee on the flexible savings account is $0, and the minimum deposit is $1. That makes it one of the cheaper accounts to hold open, since nothing is deducted each month for keeping the balance. The account is set up without a fixed term.

Yes. Interest is credited daily on the balance and you can withdraw any time without penalty to a Transaccional account, either through digital channels or at any branch. There is no notice period to wait out and no early withdrawal charge described for the flexible account. The rate stays variable throughout.

The multipurpose loan covers $300 to $60,000 with a term of 3 to 60. Early repayment is free, so you can settle the balance sooner without a charge if your income changes. You will need proof of income that matches how you are employed before the money is released.

The international card is a debit card on the visa network, drawing on your account balance. The credit card offering is a credit card that earns miles rewards rather than cash back. Both sit within the same relationship as the savings and loan accounts.

The housing mortgage is for purchase, with an initial rate of 7.5% held for a fixed period of 3 to 20. The maximum loan to value is 83%, so a deposit is still needed to cover the rest of the property value. After the fixed period the rate settles, and the borrowing runs through the bank directly.

Support runs on help centre, phone and chat, so you can use the help centre, phone or chat depending on the query. The same channels cover the savings account and the loan side of the relationship. It is a bank that has operated since 1906 and answers on its own channels rather than through an intermediary.