How to get a quick loan in Puerto Rico?

Quick personal loans allow you to have a significant amount to solve those unexpected expenses or buy the product or service you need, if you want to make some repairs, remodel your home, or enjoy a well-deserved vacation outside the country.

Various financial institutions offer personal loans, without verification and quick approval, from $150, being able to grant cash in a matter of minutes from the comfort of your apartment.

Many of these options are available to customers 365 days a year through financial institutions’ web portals, which are duly regulated by the state and federal laws of the Commonwealth of Puerto Rico and have their respective license from the Office of the Commissioner of Financial Institutions (OCIF), which accredits them as concessionaires or duly registered, with the exception of Savings and Credit Cooperatives, which must be authorized and registered by the Public Corporation for the supervision and Insurance of Credit Cooperatives. Puerto Rico (COSSEC).

The web portals of the entities offer simple and very useful information so you can make an educated  decision to apply for the loan. Most even have a calculator to estimate how much the monthly payments or installments would be depending on the amount requested.

In the same way, these tools allow you to know the percentage of APR that applies to the amount of the loan that is going to be requested. The APR is nothing more than the Annual Percentage Rate, or in other words, the cost of borrowing money from the entity, which is expressed as an annual percentage, and which in fact represents a more complete measurement than just the interest rate, since the APR includes said interest rate, plus discount points, along with other charges.

For some entities, the terms of the loan vary according to the amount approved, and may have a maximum payment term of up to five (5) years.

The APR remains fixed throughout the duration of the loan, so if the loan is approved with an APR of 12.95%, it will continue until the end of the established term.

An excellent example of this type of loan is offered by Money Express. In those cases where the requested amount is $3,000, payable over 4 years, the monthly payment would be $107.93, so the total amount financed would be a little more than $5,180, resulting in a finance charge of $2,189. Likewise, when the requested amount is one thousand dollars, to be paid during 24 months, the financing charge would be 341 dollars for a total financed of $1,341; in both examples, a fixed APR of 12.95% is maintained.

The ease of processing and the information available avoids unnecessary transfers and allows any request to be managed quickly from the comfort of your home. In order to achieve our goals successfully, it is best to have the right conditions in place to prepare for any situation that cannot be avoided.

At Money Express we solve you today!

Contact us: https://moneyexpresspr.com/#contact

Call us: 787-282-2880 / 1-800-981-8870

Visit us: https://moneyexpresspr.com/