Requirements to apply for your personal loan
Offers you a number of requirements which is very attractive and easy to get a loan, making it very easy to use. The requirements that are asked in are:
- Be between 21 and 65 years old
- Have legal residence in Spain (DNI or NIE)
- Have a bank account in your name
- Not be in unemployment situation
- Not be included in delinquency files
As you can see the requirements that are asked are only essential to get a loan, these being obviously so that has the assurance that you can commit to cover the fee of your loan and you will not get into trouble. But only these essential requirements, nothing more and nothing less.
In addition you will be asked for some documents such as:
- A proof of bank income for the last two months
- The last two payrolls
- If you scan your DNI / NIE with Netverify , you can verify your identity more quickly and safely. If you can not use Netverify you can upload a file with all your documentation during the application process
After completing all the requirements in 15 minutes you can have the money in your account. That’s how fast, that simple.
Interest rates on products
If what worries you most is the money you need to pay after receiving your loan, after all when you ask for any loan the interest rate is something you can not avoid, since the cost you must pay for the time in which You were given the loan.
This is a very good thing, since you will not have to pay too much for a very minimal loan that could be your request.
We will then use the simulator with some different examples of loans , so that you can get an idea of how it works and the different interest rates that are handled.
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Example No.1: Credit of 1000 euros
Term: 6 months
Monthly payment: 239 euros
Interest: 397.53 euros
Nominal interest: 125.89%
Equivalent Annual Rate (APR): 231.1%
Total, to be returned: 1397.53 euros
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Example No.2: € 500 credit
Term: 3 months
Monthly payment: € 211
Interest: € 118.61
Nominal interest: 137.37%
Annual Equivalent Rate (APR): 267.3%
Total, to be returned: € 618.61
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Example No.3: Credit of € 2,500
Term: 12 months
Monthly payment: € 320
Interest: € 1250.8
Nominal interest: 82.43%
Annual Equivalent Rate (APR): 122.1%
Total, to be returned: € 3750.8
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Example No.4: Credit of € 2000
Term: 6 months
Monthly payment: € 480
Interest: € 747.89
Nominal interest: 118.9%
Annual Equivalent Rate (APR): 210.7%
Total, to be returned: € 2747.89
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Example No.5: Credit of 3000 €
Term: 12 months
Monthly payment: € 373
Interest: € 1439.93
Nominal interest: 79.38%
Equivalent Annual Rate (APR): 115.7%
Total, to be returned: € 4439.93
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Example No.6: Credit of € 3000
Term: 6 months
Monthly payment: € 733
Interest: € 1044.01
Nominal interest: 111.15%
Annual Equivalent Rate (APR): 189.5%
Total, to be returned: € 4044.01
As you can see, the interests are usually not too high , and these vary greatly depending on the loan terms and amount . Interest increases the longer the term to pay, it makes sense that the amount of interest depends on the time it takes to fully repay the loan. So you have a wide variety of options and ways to customize your loan depending on your needs and in what way you want to pay the monthly installments. The interests will be different in each case to generate a better customer experience, in which you will not be charged more, nor less for the service.