Agropréstamo

When you take out the loan, you can establish higher monthly payments for the months in which you have larger income and lower monthly payments during low income months.

You can choose between a fixed, mixed or variable interest rate. If you choose a fixed-rate loan, the monthly payment and the interest rate applied will not vary for the entire term of the loan. If you choose the variable-rate loan, the monthly payment will depend on the reference rate (usually Euribor) plus the fixed differential applied to the loan. For example, Euribor + 1.5%. If you prefer a mixed interest rate, a fixed interest rate will be applied during the initial period of the loan, and a variable interest rate will be applied during the remaining term.

You can choose a period during which to pay only interest. In this case, with the bank's approval, you will be able to request up to a 36-month grace period.

An opening and study fee will be applied only once on the amount taken out. An early cancellation fee will be applied to the amount paid back early.

Both the interest rate and the fees depend on various factors. Ask your adviser to calculate a quote for you according to your personal situation.

Excluded are transactions established as such in the contract, partial drawdowns and interest in advance.

NIR (Nominal Interest rate) is what you pay to a bank in exchange for receiving a loan. The NIR is usually lower than the APR and is not used to compare the price between different loans, as it only includes the interest rate and not all the transaction charges.

APR (Annual Percentage Rate) provides the cost of a financial product, such as loans, and includes both the interest and the various costs and fees associated with it. This information lets you compare different loans because the lower the APR, the cheaper the loan.