Best mortgage loans in Chile in November 2026: the ranking by term

What are the best mortgage loans in Chile in November 2026? Based on the offers banks report to the Financial Market Commission (CMF), Santander has the lowest cost at all four terms we checked (15, 20, 25 and 30 years) and BancoEstado comes second at every one. Third place changes: Banco Internacional at 20 years and BCI at the rest. We built the ranking with the CMF mortgage simulator, checked on November 6, 2026.

4.52%

Lowest CAE

Santander, 15 years

BancoEstado

Second place

at all four terms

CLP 78,019

Gap at 30 years

per month, 1st vs. last

Source: CMF, mortgage simulator, UF 3,000 loan, checked on November 6, 2026

View the data as a table

Lowest CAE	4.52% | Santander, 15 years
Second place	BancoEstado | at all four terms
Gap at 30 years	CLP 78,019 | per month, 1st vs. last

How we built the ranking of the best mortgage loans

One mortgage is better than another when it costs less overall. That is why we ranked the offers by CAE (carga anual equivalente, or annual equivalent cost), the indicator the CMF itself uses: it combines the interest rate, insurance and loan fees into a single percentage. The rate alone can be misleading, because a bank with a low rate may charge more for insurance.

We used the CMF simulator’s standard product:

• a UF 3,000 loan, equal to 75% of the value of a home in Santiago;
• a non-transferable, UF-denominated, fixed-rate mortgage;
• a monthly payment that includes life and fire insurance;
• standard pricing, with no discounts for agreements or promotions.

Monthly payments are in Chilean pesos using the UF value of November 6, 2026 (CLP 41,279.51). The UF is an inflation-indexed unit of account used in Chile.

The top 3 best mortgage loans by term

Term	1st place	2nd place	3rd place
15 years	Santander: CAE 4.52%, CLP 942,824	BancoEstado: CAE 4.85%, CLP 961,813	BCI: CAE 4.86%, CLP 962,225
20 years	Santander: CAE 4.62%, CLP 785,549	BancoEstado: CAE 4.83%, CLP 797,520	Banco Internacional: CAE 5.02%, CLP 808,666
25 years	Santander: CAE 4.58%, CLP 686,891	BancoEstado: CAE 4.82%, CLP 702,164	BCI: CAE 5.00%, CLP 714,548
30 years	Santander: CAE 4.54%, CLP 623,733	BancoEstado: CAE 4.81%, CLP 641,484	BCI: CAE 5.03%, CLP 657,583

At 20 years, Banco Internacional and BCI tie on CAE (5.02%), but Banco Internacional’s monthly payment is CLP 1,238 lower, so we placed it third. At 15 years, the gap between BancoEstado and BCI is just CLP 412 a month: in practice, a tie.

Santander’s interest rate ranges from 3.86% (15 years) to 4.00% (20 years). BancoEstado reports 4.55% at every term.

How much you save with first place

The gap between first and second place is CLP 11,971 to CLP 18,989 a month, depending on the term. The gap with last place is much larger, and it grows with the term: at 30 years, Santander’s monthly payment is CLP 78,019 lower than Itaú’s, the most expensive offer.

Santander623.73

BancoEstado641.48

Coopeuch656.76

BCI657.58

Banco Falabella658.41

Itaú701.75

Source: CMF, mortgage simulator, November 6, 2026. Only 6 institutions report an offer at this term

View the data as a table

Santander	623.73
BancoEstado	641.48
Coopeuch	656.76
BCI	657.58
Banco Falabella	658.41
Itaú	701.75

Look at Coopeuch: at 30 years its monthly payment is lower than BCI’s (CLP 656,757 vs. CLP 657,583), but its CAE is higher (5.05% vs. 5.03%). The differences are tiny, which is why it pays to ask for a full quote with all fees.

Before choosing among the best mortgage loans

Check the date of the data

Each bank updates its information at the CMF whenever it wants. Santander’s data is from August 28, 2026, and BancoEstado’s from February 6, 2026: nine months old. Their actual offer today may differ. The full table with all 10 banks and cooperatives, including the date of each figure, is in our mortgage comparison.

Rates have been rising

The average rate on UF-denominated home loans was 4.07% in September, according to the Central Bank of Chile, and it rose four months in a row from May’s low of 3.96%. We explain the trend in how mortgage interest rates have changed.

If you are buying a new home, add the subsidy

The rate subsidy cuts up to 60 basis points off the rate on loans for new homes worth up to UF 6,000, after the expansion under Law 21,836. Ask each bank whether it applies it, because it can change the ranking for your case. The details are in what changed with the subsidy expansion.

Your offer may beat the standard one

The CMF warns that its rates are for reference only. A bank may offer you a lower rate depending on your income, down payment, credit history or whether you have other products with it. Once you have your quotes, compare them side by side:

UF⌂Free toolFree mortgage simulator: calculate your monthly paymentEnter the property value, down payment, term and rate, and instantly see your payment in UF and Chilean pesos, the interest and the yearly payment table.Use tool →