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

Extension.

Extension.

Upon maturity of the Loan and only up to the tenth day of delay in payment, the Borrower may choose to extend his term through his personal area or by making an income for the exact amount of the extension. In case of opting for the extension of the term of the Loan, to make the request for extension effective the Borrower must pay in a single payment the amount corresponding to the interest of the Loan accrued, the penalties for non-payment that have accrued, the commission for non-payment fixed twelve with five (12.05) USD ($) to be paid once on the third calendar day following the date of non-payment.

A commission for extension of 3% per day on the amount of the Loan requested to be paid 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 initial maturity date of the Loan. – Or a commission for extension of 2.5% daily on the amount of the Loan requested to make the request for extension effective for a period of fourteen (14) days.

Once the payment is made, the Loan will be extended for a period of fourteen (14) days, starting from the initial maturity date of the Loan. – Or a commission for extension of 2% per day on the amount of the Loan requested to make effective the request for extension for a period of twenty-one (21) days. Once payment is made, the Loan will be extended for a period of twenty-one (21) days, starting from the initial maturity date of the Loan.

Late payment.

Late payment.

The non-payment, upon maturity, of any amount provided by virtue of the Loan, shall entitle the Lender to demand from the Borrower, in addition to the unpaid amount, a penalty of default of 5% daily from the first day (1) of delay and until thirty (30) day of delay on the unpaid amount, which will be 4% from the thirty-first (31) day 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 default commission of twelve with five (12.05) USD ($), to be paid only once on the third calendar day following the date of default, as well as the expenses caused by the default of the loan, specifically those that are necessary in the process of collecting payment.

All this without prejudice to the other consequences that may arise from its non-compliance, among others, the inclusion of your data in files of capital solvency and credit, 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 calculating the nominal interest rate (TIN) of a loan of $ 1000, over a period of 90 days. The daily interest rate is 0.96%, therefore, for a 90-day operation, the nominal interest rate (TIN) is (0.96% * 90) = 86.4%. The interest accumulated 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) = $ 1,864.

The fixed commission for default on the maturity date of the loan will be $ 12.05 (to be paid in one payment from the third calendar day following the date of default). In the example for a delay of 10 days from the maturity date of the loan, the amount to be repaid will be the sum of: nominal loan 1000 + ordinary interest 864 + commission for default 12.05 + default interest (1000 * 5 % * 10) = 1000 + 864 + 12.05 + 500 = $ 2367.05. Example of calculating the nominal interest rate (TIN) of a loan of $ 1000, over a period of 365 days. The daily interest rate is 0.96%, therefore, for a 365-day operation, the nominal interest rate (TIN) 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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