Banesco Panama review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Banesco Panama is a Panama-based bank worth a look for borrowers who want one direct lender for personal loans, debt consolidation, home improvement and mortgages. It lends straight, works with an initial rate of 7.25% and charges a closing fee of 5% to 12% on the amount financed.

Key facts

Best for
Panamanian residents with steady income who want a personal loan, a consolidation loan or a mortgage from a direct lender.
APR
7.5% to 14% (Source, checked September 26, 2026)
Term
up to 360 months (Source, checked September 26, 2026)
Arrangement fee
Closing fee 5.00% to 12.00% of the amount financed depending on segment (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Eligibility
Panamanians or residents, minimum age 21, minimum monthly income $550 ($1,000 self-employed, $320 retirees), 2 years job stability (Source, checked September 26, 2026)
Origination fee (%)
5% to 12% (Source, checked September 26, 2026)
Loan types
Personal, Debt-consolidation (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
Banesco (Panama), S.A. (Source, checked September 26, 2026)
Headquarters
Panama (Source, checked September 26, 2026)
Founded
2007 (Source, checked September 26, 2026)
Support channels
Phone, Chat, Help-centre (Source, checked September 26, 2026)
Official website
banesco.com.pa

Mortgages

Initial rate
7.25% (Source, checked September 26, 2026)
Fixed period
5 to 30 years (Source, checked September 26, 2026)
Maximum loan to value
80% to 90% (Source, checked September 26, 2026)
Product fee
PAB 150 to PAB 300 (Source, checked September 26, 2026)
Purpose
Purchase, Remortgage (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Legal entity
Banesco (Panama), S.A. (Source, checked September 26, 2026)
Headquarters
Panama (Source, checked September 26, 2026)
Founded
2007 (Source, checked September 26, 2026)
Support channels
Phone, Chat, Help-centre (Source, checked September 26, 2026)

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataLinkedInXfacebook.com

Pros and cons

Pros

  • Lends directly as direct lender, so you deal with the bank rather than a broker
  • One lender covers personal and debt consolidation loans plus home improvement borrowing
  • Mortgage terms run 5 to 30 with a maximum loan to value of 80% to 90%
  • Support runs on phone, chat and help centre

Cons

  • The closing fee of 5% to 12% of the amount financed is a large upfront cost
  • Personal loan terms stretch to up to 360, which is long for an unsecured balance
  • Support runs on phone, chat and help centre only, with no in-branch option listed
Banesco Panama

Ready to try Banesco Panama?

Scored 9.0 / 10 by BorrowCue.

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Who it suits

  • Adults with a minimum age and a job stability requirement already met
  • Borrowers consolidating several existing debts into one personal loan
  • Homebuyers taking a first mortgage or a remortgage with the same bank

Who should look elsewhere

  • Anyone outside Panama, since lending is limited to Panamanians and residents
  • Borrowers who want a fee-free loan, given the closing fee of 5% to 12%
  • Applicants who need a decision without a minimum income or job stability requirement

How your money is protected

Banesco (Panama), S.A. is a direct lender, so direct lender means your application and your repayments sit with the bank itself rather than a marketplace or broker. It is supervised in Panama by the Superintendencia de Bancos de Panama, and it has traded since 2007 from a Panama base. Lendable amounts are assessed against your income, so the check on the money is made at the point of application rather than through an outside protection scheme.

How Banesco Panama compares

Where Banesco Panama is available

Available
Panama
Licence in Panama
Superintendencia de Bancos de Panama, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate will I pay on a Banesco Panama personal loan?+

Personal loans are priced at an APR of 7.5% to 14%. That is below the 12% median across personal loans on the site, so it is worth checking what the market is charging before you settle. The rate you are offered will depend on your own profile.

Is there a fee for taking out the loan?+

Yes. A closing fee of 5% to 12% of the amount financed is charged depending on your segment, and that is on top of a product fee of PAB 150 to PAB 300. Both are real costs, so ask for the total figure before you sign.

How long can I borrow for?+

A personal loan can run for up to 360. A mortgage is a different proposition, with fixed periods of 5 to 30. The site median for personal loans is 36, so a longer term is a deliberate choice rather than the norm.

What do I need to qualify?+

The lender asks for Panamanians or residents at a minimum age, a minimum monthly income, and a period of job stability. Self-employed applicants and retirees are assessed on their own income levels. Have proof of income and length of employment ready before you apply.

Is my money protected?+

Banesco (Panama), S.A. is supervised in Panama by the Superintendencia de Bancos de Panama and has operated since 2007. You deal with the bank directly as a direct lender, so the loan agreement and the repayments both sit with the same institution.

Can I use the loan for my home?+

Yes. Home improvement borrowing is listed among the uses, and the bank also offers home loans for purchase and remortgage. A mortgage can carry a maximum loan to value of 80% to 90% across a fixed period of 5 to 30, so property borrowing is a genuine part of what it does.

How do I get hold of the bank?+

Support runs on phone, chat and help centre, so you can reach the team by phone or chat, or work through the help centre. That is the whole list of channels given, so plan on using one of those rather than expecting a branch visit or an email route.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Loan amount, Credit check, Funding time, Representative example.

Banesco Panama

Banesco Panama

Panamanian residents with steady income who want a personal loan, a consolidation loan or a mortgage from a direct lender.

9.0/10See alternatives

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