Applying Cesantías as a payment to your Mortgage Loan
There are 4 ways to apply Cesantías to the obligation
1
Principal payment with term reduction
the installments remain the same and the term of the obligation decreases
2
Principal payment with installment reduction
The term of the obligation remains the same and the installment amount decreases
3
Payment toward future installments
a prepayment is made on installments not yet due
4
Keep in the individual pledged account
Please note that these applications may be made automatically or manually, depending on the case:
Automatic – mandatory
If the loan was disbursed before January 1, 2012, Cesantías are automatically applied as a principal payment with term reduction; however, this can be changed to: 1. Principal payment with installment reduction; 2. Payment toward future installments; or 3. Keep in the account.
"To change the application, you must fill out form GCP-ACC-FO-013 "Request for Application of Cesantías or AVC to Loan" and the Addendum "GCP-ACC-FO-020 Loan Contract Modification Document."
Manual – at the financial consumer's request
If the loan was disbursed after January 1, 2012, Cesantías will be kept in the account. In this case, to apply them, you must fill out form GCP-ACC-FO-013 "Request for Application of Cesantías or AVC to Loan" and choose how the Cesantías will be applied.
Ways to apply Cesantías
See the instructions for filling out the formGCP-ACC-FO-013.
Means and channels to make payments
For both automatic and manual application, the corresponding documentation must be submitted at a service point. To make this process easier, we have 70 service points available to our members nationwide, which you can check by clicking here. You may also write to [email protected] (attaching the completed GCP-ACC-FO-013 form and addendum; the latter only applies to loans disbursed before January 1, 2012).