Guatemala Personal Loan Comparison by Bank
Choosing a personal loan in Guatemala without comparing can cost you thousands of quetzales: between the cheapest and most expensive bank there is a difference of up to Q12,700 in interest on Q50,000 over 3 years. This comparator calculates the monthly payment and total interest of the country's main banks using the typical rates in effect in August 2026, so you can shortlist 2 or 3 institutions and request a formal quote.
With Q50,000 over 3 years (36 payments), monthly payments for personal loans range from Q1,661 (Bantrab, 12%) to Q2,015 (Promerica, 26%). In total interest, the gap between the cheap end (≈Q9,786) and the expensive end (Q22,523) exceeds Q12,700. With payroll deduction, Bantrab and Banrural usually land between Q1,660 and Q1,860 per month. Note: UPA's 9% rate is Prestahorro, a loan backed by your own savings, not an unsecured personal loan.
What this tool compares
For each bank you get three figures, always in quetzales:
- Nominal annual rate: the percentage the bank advertises, shown as a range because almost no institution publishes a single rate (it depends on your profile, income and payroll agreement).
- Monthly payment: the fixed payment calculated with the French amortization formula (PMT), the same one Guatemalan banks use. The range between the minimum and maximum rate is shown.
- Total interest: what you pay on top of the principal over the whole term.
How it is calculated (step by step)
- Take the amount, for example Q50,000, and the term, 3 years (36 months).
- With a bank's minimum rate (e.g. Bantrab's 12% per year), the payment is Q1,660.72; with UPA's maximum (16%), Q1,757.85.
- Total interest: payment × 36 − Q50,000. At 12%: Q9,785.76; at 16%: Q13,282.66.
- The comparator repeats this for all 8 banks and sorts the table from cheapest to most expensive payment.
The formula used is: payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the principal, r the monthly rate and n the number of payments.
Reference rate table (August 2026)
| Bank | Nominal annual rate | Source | |---|---|---| | Bantrab | 12% – 18% | Bantrab rate sheet (image) + livinginguatemala tracking, Aug 2026 | | Banrural | 13% – 20% | Typical range (rate not published on site; only fees) | | Banco Industrial | 16% – 22% | Official BI calculator (example ≈20% per year) | | BAM | 16% – 22% | Typical range (site: variable annual rate) | | G&T Continental | 17% – 24% | Typical range (internal monthly rate sheets) | | BAC | 19% – 27% | Official payroll loan; Fácil Digital 18%–40% (EAR) | | Promerica | 18% – 26% | Official disclosure: EAR 18%–60% | | UPA Cooperative | 15% – 16% | Presta Más 1.25% monthly / fiduciary 16% |
These figures are indicative and were collected in August 2026. They change with the Bank of Guatemala's rate cycle and each bank's campaigns. Always confirm the rate, fees, insurance and full cost (CAT) with the institution before signing.
Nominal rate vs EAR: what to compare
The nominal rate is what you see in ads, but the real cost includes the opening fee (1–4%), mandatory debtor insurance and administrative costs. The EAR (effective annual rate) captures all of that: Promerica discloses an EAR of 18% to 60% and BAC of 18% to 40% on its digital loan, well above the advertised rate. When requesting your quote, literally ask: "What is the full cost (CAT) of this loan?" A practical rule: if the bank cannot give you the number, that offer is not comparable.
How to read the results
- The highlighted row is the cheapest option by minimum payment. If your employer has a payroll agreement with another bank, your real rate may be better than the range shown.
- Longer terms lower the payment but double the interest: Q50,000 over 60 months at 16% generates almost twice the interest of 36 months. Choose the shortest term you can afford.
- The range matters more than the endpoint: a bank with a 13–20% range can end up more expensive than one with 16–22% if your profile lands at the top. That is why you should get quotes from 2 or 3 banks, not just look at the minimum.
- Use the "Edit rates" button if a bank already quoted you a specific percentage: the comparator recalculates that row with your real rate.
Frequently asked questions
With payroll deduction, Bantrab and Banrural usually show the lowest rates in the market (12–20% per year), and cooperatives such as UPA publish monthly rates of 1.25% (Presta Más) or 16% (fiduciary). Commercial banks (BI, BAM, BAC, Promerica) range from 16% to 26% depending on your profile. Your final rate depends on income, credit history and whether your salary is paid through that bank.
Because most banks do not publish a single rate: they offer a range depending on credit profile and payroll agreements. The comparator calculates the payment with both the minimum and the maximum researched rate, so you see the optimistic and the conservative scenario.
The nominal rate is the advertised percentage, but the real cost includes the opening fee, insurance and administrative costs. The EAR (effective annual rate) captures all of that. Promerica discloses an EAR of 18% to 60% and BAC of 18% to 40% on its digital loan. Always ask your bank for the full cost figure (CAT) before signing.
No: it is an educational tool with reference rates from August 2026. Real conditions are set by each institution based on your profile. Use it to shortlist 2 or 3 banks and request a formal quote with rate, fees, insurance and full cost.
Yes, almost always. Common in Guatemala: opening or disbursement fee (1%–4%), mandatory debtor insurance and administrative costs. That is why the real payment is usually higher than the rate-only calculation. Ask for the full breakdown before signing.
Related calculators
- Loans: everything about loans in Guatemala
- Personal loan: payment, fee, insurance and approximate full cost of a specific loan
- Mortgage: if the loan is for housing
- Auto loan: vehicle financing
- Early loan payoff: how much you save by paying early
- Effective annual rate (EAR): convert nominal rate to EAR
- Debt-to-income ratio: how much credit you can afford