CredSeda Pro - Préstamo fácil​

What this loan app is for

Someone who needs cash quickly, and would rather not visit a branch, is the person this app is aimed at. The developer presents it as a way to get an online loan paid straight into a bank account, with the request made on a phone.

The loans are personal loans. The listing gives an amount range of S/100 to S/5,000 and a term of 105 to 180 days, and says approval is subject to assessment. That means the amount and term you are offered depend on the review, not on what you ask for.

The developer says the platform is authorised and supervised by SBS Peru, the Peruvian banking and insurance regulator. The listing also gives a maximum annual percentage cost (CAT) of 36%, calculated under the SBS methodology.

How the cost of a loan is worked out

The interest is a daily rate of 0.1%, which the listing puts at S/1 per day for every S/1,000 borrowed. Over the full term, that adds up to the total interest.

IVA, Peru's sales tax, is charged at 18% on top of that interest. The developer also names a single fee alongside the IVA, and says there are no other hidden charges.

The listing works through one example: S/1,000 borrowed for 105 days. It gives total interest of S/105, IVA of S/18.90, and a total to repay of S/1,123.90. The developer presents this as a simulation, so your own figures will depend on the amount and term you are approved for.

Applying and receiving the money

The developer describes three steps. You download the app free from Google Play, then register your DNI and your bank account, and then the money is sent to you.

Payouts go to BCP, Interbank or BBVA accounts. Those are the three banks the listing names, so anyone banking elsewhere should check that their bank is on that list before applying.

Registration asks for identity and bank details only. The listing does not describe any other documents being requested at that stage.

Repaying on time and building a credit record

The developer ties repayment to future borrowing. Paying on time is said to lead to larger amounts and lower rates on later loans.

The listing presents this as a benefit of paying punctually, and it does not say how the record is scored. Anyone who takes the loan should expect that a late payment will count against their future offers, as the developer's wording implies.

Privacy, data protection and getting help

The developer says it does not contact your relatives. It also says your data is encrypted, and links that encryption to Ley 29733, the Peruvian personal data law named in the listing.

Support is by email at service@credsedapro.com. The listing describes this as 24/7 and as priority support. It also says assistance is offered around national holidays, without giving more detail on what that covers.