Personal Loan Disclosures and Requirements
APR is the Annual Percentage Rate. The rates quoted are offered to individuals for the agreed amount and term. Actual APR may vary and may be subject to applicable discounts. Hola Credito’s advertised interest rates are subject to change without notice. (MAX APR 60%)
Period for repayment
Loans from 6 months to 3 years
Loan Amount and Term Restrictions
Example A: A 1000€ loan at 5% per month, for the term of 6 months (MAX APR 60%) this is 6 payments of 50€ and a final payment of 1000€ total amount repayable 1300€
Example B: A 1000€ loan at 5% per month, for the term of 3 years (MAX APR 60%) this is 36 payments of 50€ and a final payment of 1000€ total amount repayable 2800€.
(Hola Credito is a responsible lender. Interest is calculated daily at a rate of 1.64 and loans can be repaid at any time without incurring additional fees or penalties)
EU Consumer Credit Right – Early repayment
Hola Credito adheres to the EU Consumer Credit Act. In line with your EU Consumer Credit rights, you have the right to withdraw from the agreement after a 14 day cooling off period. In which case no additional fees will be charged, you will pay only the original capital and the interest accrued during this period.
In order to apply for a loan from Hola Credito, you must first complete an application form and provide proof of identity and state the valuables that you wish to borrow against.
- You will need to complete a loan application with personal information.
- You will need to provide proof of ownership of the valuables used as surety against your loan. Always Difficult to provide and not necessary
- Copy of passport or NIIE