BBVA Paycheck Advance Loan

Terms and Conditions valid until 08/31/2020. Loan subject to approval by Banco Bilbao Vizcaya Argentaria, S.A.

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

Yes, the BBVA Paycheck Advance Loan has a commitment fee of 1.5% on the borrowed amount.

• You can cancel all or part of the Salary Advance Loan before the end of the term.
• EYou 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.

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.

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

From a minimum of €600 up to a maximum of €3,000 or the equivalent of the sum of 3 paychecks. If you need a smaller amount, you can apply for one of our credit cards.

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

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.

The NIR (Nominal Interest Rate) is paid to a bank in exchange for the money that it loans to customers. The NIR is usually less than the APR and can't be used to compare the cost of different loans, since it only considers the interest rate and not all the costs of the transaction.

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