Get a fixed APR for terms from 12 to 120 months2
Use your savings account or a certificate of deposit as guarantee (collateral) and get a fixed APR at the term you choose.
When you finish paying the loan, the collateral is released, in addition to the interest generated.
Discover Popular’s new online tool that allows you to monitor your credit score and take control of your finances. Free of charge!
Product offered by Banco Popular de Puerto Rico.
Subject to credit approval and compliance with the parameters offered by Banco Popular. Other terms and conditions apply.
The base rate varies by region: USVI: Annual Percentage Rate (APR) is of 6.49% APR; minimum rate is 6.24% APR after 0.25% discount when you enroll in for Direct Payment. Terms available from 12 up to 120 months, depending on the amount requested. Maximum amount of the loan will depend on the collateral offered as guarantee. When loan is paid off, the collateral plus interest earned will be released. Example USVI: A loan of $5,000 for 72 months at 6.24% APR, after applicable discount of .25% when you accept Direct Payment would pay 72 monthly payments of $83.43. Other terms and conditions available. BVI: Base rate of 7.75% APR; minimum rate is 7.50% APR. The 7.50% APR offer applies to loan applications up to $25,000. For loans more than $25,000 the base rate will be 4% plus the APY of the instrument provided as collateral. Example BVI: A $5,000 loan for 72 months at 7.50% APR, after applicable discount od .25% when you accept Direct Payment, would pay 72 monthly payments of $86.45. Other terms and conditions available.
You have the option to start paying your loan up to 90 days after disbursement; however, this does not constitute a forgiveness of interest accrued during this period; said interests will be prorated for the term of the loan. If any applicant is a covered debtor as defined by the Military Lending Act, the availability of this option is subject to the provisions of that Act.
Same-day credit decision for applications that contain all the information necessary for evaluation and are received on business days, Monday to Friday from 8:00 a.m. to 5:00 p.m. EST. Same-day disbursement subject to branch hours and to the customer meeting all approval requirements. Other restrictions apply.
