Fast payday loans online layout.

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

Extension.

Extension.

After the Loan expires and only until the tenth day of late payment, the Borrower may opt for the extension of his term through his 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, to make the extension request 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 of twelve with five (12.05) euros (€) to be paid once on the third calendar day following the date of non-payment, and: – A commission for extension of 3% daily on the amount of the Loan requested to be effective the extension request for a period of seven (7) days. Once the payment has been made, the Loan will be extended for a period of seven (7) days, counting from the initial maturity date of the Loan. – Or a commission by 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 has been made, the Loan will be extended for a period of fourteen (14) days, counting from the initial maturity date of the Loan. – Or a commission for an extension 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 has been made, the Loan will be extended for a period of twenty-one (21) days, counting from the initial maturity date of the Loan.

Late payment.

Late payment.

The non-payment, upon expiration, of any amount provided under the Loan, shall entitle the Lender to require the Borrower, in addition to the unpaid amount, a penalty of default of 5% daily from the first day (1) of delay and until the day thirty (30) of delay over the unpaid amount, which will be 4% from day thirty-one (31) of delay and until day ninety (90) of delay, and which will be 2% from day ninety-one (91) of delay and until the day of the total repayment of the Loan; plus a commission for fixed non-payment of twelve with 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 non-payment of the loan, specifically those are necessary in the process of collection of payment. All this without prejudice to the other consequences that could derive from its breach, among others, the inclusion of your 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 payday loan.

Example of calculating the interest rate of a personal loan.

Example of calculating the nominal interest rate (TIN) of a loan of € 1000, for 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 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 loan expiration date will be € 12.05 (payable only once from the third calendar day following the date of default). In the example for a delay of 10 days from the loan due date, the amount to be returned will be the sum of: nominal loan 1000 + ordinary interest 864 + commission for non-payment 12.05 + late payment interest (1000 * 5 % * 10) = 1000 + 864 + 12.05 + 500 = € 2367.05. Example of calculating the nominal interest rate (TIN) of a loan of € 1000, for 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%. Interest accrued during the 365 days of the loan will be (1000 * 0.96,% * 365) = € 3504.

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