Study Loan

Yes, to obtain this loan you must have a BBVA account, which is where the money will be deposited and the payments will be charged. If you are not already a client, you can open your account during the process.

You do not need to direct deposit your salary or pension to get the fixed interest rate of 3.95% (4.08% APR).

The Under 2-Year Study Loan does not have a commitment fee.

If you decide to liquidate the loan early, in full or in part, you will have to pay a fee depending on the repayment period left:

• 1% of the amount to liquidate if there are under 12 months remaining.
• 1% of the amount to liquidate if there are more than 12 months remaining.

In the event of delays in the monthly payment, the corresponding late payment fees will be applied. Non-payment may have 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 NIR (Nominal Interest Rate) is what you pay the bank to lend you money. 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 a loan, including both the interest and different expenses and fees involved. This figure lets you compare different loans since the lower the APR, the cheaper the loan.