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The Loan will last sixty (61) to one hundred twenty (120) days, counting from the effective reception of the Loan amount in the Borrower’s bank account. The minimum annual interest rate: 350.4%.

Extension.

Extension.

Upon expiration of the Loan and only until the tenth day of delay in payment, the Borrower may opt for the extension of its term through its personal area or making an income for the exact amount of the extension. In case of opting for the extension of the term of the Loan, in order to make the extension request effective, the Borrower will have to pay in a single payment the amount corresponding to the interest of the Loan accrued, the penalties for non-payment that have been accrued, the commission for non-payment fixed of twelve with five (12.05) euros (€) to be paid only once on the third calendar day following the date of non-payment, and: – A commission for an extension of 3% per day on the amount of the Loan requested to be effective the extension request for a period of seven (7) days. Once the payment is made, the Loan will be extended for a period of seven (7) days, starting from the date of the initial maturity of the Loan. – Or a commission for extension of 2.5% daily on the amount of the Loan requested to make the extension request effective for a period of fourteen (14) days. Once the payment is made, the Loan will be extended for a term of fourteen (14) days, starting from the date of the initial maturity of the Loan. – Or an extension fee of 2% per day on the amount of the Loan requested to make the extension request effective for a period of twenty-one (21) days. Once the payment is made, the Loan will be extended for a period of twenty-one (21) days, counting from the date of the initial maturity of the Loan.

Late payment.

Late payment.

The non-payment, at maturity, of any amount arranged under the Loan, will entitle the Lender to demand from the Borrower, in addition to the unpaid amount, a penalty of 5% per day from the first day (1) of delay and up to thirty (30) day of delay over the unpaid amount, which will be 4% from the thirty-first day (31) of delay and until the ninety (90) day of delay, and which will be 2% from the day ninety one (91) of delay and until the day of the total return of the Loan; plus a fixed non-payment fee of twelve to five (12.05) euros (€), to be paid only once on the third calendar day following the date of non-payment, as well as the expenses caused by the loan default, specifically those that are necessary in the process of collecting the payment. All of this without prejudice to the other consequences that may arise from their non-compliance, including the inclusion of their data in asset and credit solvency files, in accordance with the provisions of Article 20 of Organic Law 3/2018, of 5 December, Protection of Personal Data and guarantee of digital rights.

Example of calculating the interest rate of a personal loan.

Example of calculating the interest rate of a personal loan.

Example of calculation of the nominal interest rate (TIN) of a loan of € 1000, during a period of 90 days. The daily interest rate is 0.96%, therefore, for a 90-day operation, the nominal interest rate (NIR) is (0.96% * 90) = 86.4%. The interest accrued during the 90 days of the loan will be (1,000 * 0,96% * 90) = 864 €. The amount to be returned will be (1,000 + 864) = € 1864. The fixed commission for non-payment on the due date of the loan will be € 12.05 (payable at one time from the third calendar day following the date of non-payment). In the example for a delay of 10 days from the due date of the loan, the amount to be repaid will be the sum of: nominal loan 1000 + ordinary interest 864 + commission for non-payment 12.05 + interest for delay (1000 * 5 % * 10) = 1000 + 864 + 12.05 + 500 = € 2367.05. Example of calculation of the nominal interest rate (NIR) of a loan of € 1000, during a period of 365 days. The daily interest rate is 0.96%, therefore, for a 365-day operation, the nominal interest rate (NIR) is (0.96% * 365) = 350.4%. The interest accumulated during the 365 days of the loan will be (1000 * 0.96,% * 365) = 3504 €.

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