Online Agricultural Loan

How does the Online Agricultural Loan work?

The Online Agricultural Loan is a way to finance your business directly and entirely digitally.

1. To help grow your business. It allows you to use the credit for general machinery and agricultural facilities and is available only to self-employed individuals.
2. Directly in your account. If you meet the requirements and all the information is correct, we deposit the funds into your account within 24 hours of signing the policy.
3. 100% online application. A fully digital process that takes just a few minutes, allowing you to access the financing you need quickly and easily.

Is there a commitment fee?

Yes, it has a commitment fee that is based on the amount borrowed. The fee is 0.75% of the amount requested, with a minimum of €100.

What do I need to apply for the loan?

You must be self-employed and have farming/ranching as your primary activity, be a BBVA customer, have an account capable of receiving the deposit, and submit the loan application online.

What is considered when granting a loan to self-employed individuals?

Primarily, that you are a professional self-employed client whose main activity is farming or ranching. Final approval is always subject to BBVA’s analysis and approval based on your risk profile.

How much money can I request?

You can request between a minimum of €1,500 and a maximum of €50,000, always in keeping with the personalized credit limit available to you.

What documentation do I need to provide?

As this is a 100% digital process and for pre-approved loans, you normally do not need to provide any additional paperwork. However, the bank may occasionally request proof of how the funds will be used (machinery or facilities).

Can I cancel the loan?

Yes. If the loan is taken out under consumer regulations, you have 14 calendar days from signing to withdraw without explanation or penalty. In this case, you must return the funds plus any interest accrued to date.

Do I need to go to a branch to apply?

It's not required. The application and contracting process are fully online via the BBVA app or your private area on bbva.es, letting you obtain financing immediately without having to visit a branch.

What is NIR and APR?

The NIR (Nominal Interest rate) is what you pay to a bank in exchange for receiving a loan. The NIR is usually less than the APR, and cannot be used to compare the prices of different loans, since it only includes the interest rate and not all the expenses associated with the transaction.

The APR (Annual Percentage Rate) indicates the cost of a financial product, such as a loan, and includes both the interest rate and the various expenses and fees associated with it. This figure lets you compare different loans since the lower the APR, the cheaper the loan.