Representative example
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Representative example if you direct deposit your paycheck at BBVA
- Loan amount: €10,000.
- Commitment fee: €0.
- Repayment period: 8 years (96 months).
- Constant monthly payment: €126.36.
- Interest rate: 4.95% NIR (5.22% APR).
- Total to repay: €12,197.96
The APR was calculated taking into account postage expenses: €0.70 monthly.
If you need to open a checking account exclusively for managing this loan, and if the conditions for having no maintenance fees on said account are not met, the fee will be €120 per year. Therefore, the APR of the loan would be 7.47%, with a total cost of €13,157.96.