Yes, the BBVA Paycheck Advance Loan has a commitment fee of 1.5% on the borrowed amount. Plus, you can repay it early. The partial or total cancellation fee is 0.50% of the capital to repay.

Do I have to be a BBVA client?

Yes, to be eligible for this loan, you must have an account in BBVA with your paycheck paid directly into this account.

How long do I have to apply for the Paycheck Advance Loan?

Terms and conditions valid until 12/31/2022. Loan subject to approval by Banco Bilbao Vizcaya Argentaria, S.A.

I can repay the loan early?

You can cancel all or part of the Salary Advance Loan before the end of the term. E You can request your salary advance through our online form or at a BBVA branch. The partial or total cancellation fee is 0.50% of the capital to repay. If you pay back some of the loan early you can then choose to: Shorten the term of the loan but keep the installment amounts the same. Keep the term the same but reduce the amount of the remaining installments.

What happens if I am late on a monthly payment?

In the event of a delay in the monthly repayment, the corresponding late payment fees will be applied. Non-payment may cause serious consequences (such as foreclosure) and affect your credit score. BBVA recommends responsible use of the loan in order to be able to pay the monthly instalments and avoid surcharges in fees or interest.

How do I make the payments?

The payments will be made from your BBVA account on the last day of each month.

How much money can I request?

From a minimum of €1,000 up to a maximum of €3,000 or the equivalent of the sum of 2 paychecks. If you need a smaller amount, you can request one of our <a aria-label="See BBVA credit cards" href="/content/bbvaes/es/personas/productos/tarjetas/credito.html">credit cards</a>.

How long do I have to pay it off?

You can choose a term from minimum of 3 months to a maximum of 6 months.

Does the contract have to be signed before a notary public?

Before signing the contract, you will receive the European standardized information on consumer credit. To grant loans based on prudential and responsible criteria, the bank may request the involvement of a notary public.

Do you know the difference between NIR and APR?

NIR (Nominal Interest rate) is what you pay to a bank in exchange for receiving a loan. NIR is usually less than APR and is not useful to compare the price of different loans , since it includes the interest rate only and not the transaction costs. The 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 figure lets you compare different loans since the lower the APR, the cheaper the loan.

BBVA Paycheck Advance Loan

Up to 2 paychecks and a maximum of €3,000.
You have up to 6 months to pay it back.
No commitment fee.
5% NIR / APR from 5.58% to 6.73% depending on the amount and period requested.

Do you need more than €3,000?

See the advantages of our Personal Online Loan.

A couple of examples will make it clear

Here are several examples of what it would be like if you receive your paycheck in advance:

Suppose you receive an advance on your salary of €3,000, which you plan to pay back in 3 months.

You would pay €1,008.34 a month for the next 3 months (and €0.75/month in postage). In total, you would pay €3,027.28.

In this example, the commitment fee is 0%, the NIR is 5% and the APR is 5.58% (the APR is calculated taking into account postage expenses: €0.75 per month). Calculations based on the loan being signed on the last day of the month.

Suppose you receive an advance on your salary of €1,000, which you plan to pay back in 6 months.

You would pay €169.11 a month for the next 6 months (and €0.75/month in postage). In total, you would pay €1,019.14.

In this example, the commitment fee is 0%, the NIR is 5% and the APR is 6.73% (the APR is calculated taking into account postage expenses: €0.75 per month). Calculations based on the loan being signed on the last day of the month.

How do I open one?

Applying for the BBVA Salary Advance Loan is that easy:

Click on "Apply."

Choose the amount of the loan and the number of account holders.

Fill in your personal and financial details.

If everything is correct and at BBVA we approve the Salary Advance Loan, all you will have to do is sign it.

And 24 business hours after signing, you will receive the money in your account.

Remember that you have the right to withdraw from the loan contract without incurring a cancellation fee for a period of 14 calendar days from the date you sign. We will refund the commitment fee to you, and you will only have to pay for the interest generated during those days.

This is how it works

To apply for the BBVA Salary Advance Loan, you need to be a BBVA customer and have your salary or pension paid into your account.

You can receive an advance from €1,000 until 2 paychecks with a maximum of €3,000.

Pay it back over 3 to 6 months.