To access credit, interested parties must consult the rates and conditions through the website, where they can use tools such as loan simulators to adjust the terms to their specific needs.
The loan of up to $50,000,000 of the BBVA Bankpayable in up to 60 months, is intended for clients who are between 18 and 74 years old and meet a Minimum monthly income of $234,315.12. Applicants must demonstrate work experience of at least three months for employees with BBVA credentials, and up to two years for merchants and self-employed workers.
To access credit, interested parties must consult the rates and conditions through the website, where they can use tools such as loan simulators to adjust the terms to their specific needs. The money is deposited once the operation is approved, which is available until May 31.
How to access the $50,000,000 loan from BBVA Bank to be paid in 60 months
- Loan simulator: use the personal loan simulator on the BBVA Bank website to select the amount, installments and repayment period.
- Application and Approval: Complete the online application and wait for credit approval.
- Immediate crediting: once approved, the loan is deposited directly into your bank account immediately.
- Repayment period: up to 60 months to repay the loan, with the possibility of choosing the payment date of the installment according to your convenience.
- No granting fees: In accordance with the bank’s policy, no commission is charged for granting the loan.
- Loan of $50,000,000 to be paid in up to 60 months: what are the requirements
- Minimum monthly income of $234,315.12.
- Age between 18 and 74 years.
- Work seniority according to type of employment: dependency relationship with accreditation of BBVA salaries: minimum 3 months. Dependency relationship without BBVA accreditation: minimum 1 year. Independent professionals: minimum 1 year in current profession. Independent traders and freelancers: minimum 2 years in current activity.
What are the conditions of the loan to be paid in 60 months
Amortization system: French system.
Early partial prepayment: 4% + VAT on debt balance.
Full early cancellation: no charge after 180 days or 25% of the agreed term, otherwise 4% + VAT.
Total Financial Cost (CFT): 131.29% for 36 months.
Annual Nominal Rate (TNA): 73% for 36 months.
Annual Effective Rate (TEA): 103.13% for 36 months.
What are the recommendations before requesting a loan
- Evaluate your need and payment capacity: before applying for a loan, carefully consider what you need the money for and evaluate if it is an urgent need or if you can save for it. Also, make sure you can meet the monthly payments without compromising your financial stability.
- Do your research and compare options: don’t stick with the first loan option you find. Research various financial institutions, including banks, credit unions, and online lenders. Compare interest rates, fees, loan terms and payment terms.
- Read and understand all terms and conditions: Before signing any document, make sure you fully understand the terms of the loan. This includes the interest rate, APR (annual percentage rate), fees, prepayment penalties, and any other associated costs.
- Consider your credit history: Your credit score is a crucial factor in determining the terms of the loan you can receive. Before applying, check your credit score and report to make sure there are no errors that could negatively affect your ability to get a good loan.
- Prepare the necessary documentation: Generally, you will need to provide documentation that verifies your identity, income, employment, and residency. Having these documents ready can speed up the application process.
- Think about collateral: Some loans, especially those with lower interest rates, may require collateral, such as a vehicle or property. Consider whether you are willing to risk these assets in case you are unable to repay the loan.
- Consult a financial advisor: If you’re unsure about the best loan option or whether you should even get one, speaking with a financial advisor can provide you with an objective perspective and help you make an informed decision.
Source: Ambito
