Payday Loans to Pensioners with Minimum Requirements

We know that retired people or pensioners are prone to need financing from the Bank. Faced with this type of circumstances the first thing that is usually thought, is the requirements that the entity requests to be able to grant the credit .

Fundamentally at the time of submitting a credit the person has to be aware that he / she commits to return the amount requested in the time or term defined according to the conditions established for said payday loan plus accrued interest , insurance and associated costs if any.

Next we will define the Characteristics of the payday loans to Pensioners with Minimum Requirements :

If you are already retired and you need a payday loan to be able to use it in what you most want, or in what you need most, loan providers gives you that possibility . Loan providers is aware of the Social Responsibility they have with the community. For this reason from the beginning we are working in different solidarity projects , which today are specified and expanded through the Foundation, promoting actions that stimulate the growth and development of society.

Based on its integrity, strength, capacity to generate the best solutions for its clients and permanent interrelation with the community where it is developed,.

It is an entity that facilitates payday loans to people who need it, that is why it offers minimum requirements and excellent benefits that we will detail below.

 

Characteristics and Benefits:

  • Maximum Amount: $ 50,000
  • Up to 60 installments
  • Fixed Fees
  • In pesos
  • Life insurance on debit balance
  • Early Cancellation Without Charge
 

Minimum income

Retirees: 750 pesos.

Maximum Impact: Up to 50%

Granting Costs: 200 pesos + VAT (special bonus: up to 18 months 125 pesos + VAT)

Life insurance

Retirees: 0.35% on debt balance

Age of Incorporation: Liabilities: From 66 years to 84 years.

Maximum permanence: Liabilities: Up to 85 years.

Retirement installments, rates and fees

Example for a payday loan of 1,000 pesos:

Term TNA Average Rate
Up to 12 months 25.50% $ 99.77
From 13 to 18 months 28.75% $ 73.85
From 19 to 24 months 29.25% $ 60.43
From 25 to 36 months 31.75% $ 48.77
From 37 to 48 months 34.50% $ 44.59
From 49 to 60 months 36.50% $ 42.89

 

 

 

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