Loan: Elección

Need to change cars, furnish you home, refurbish your business, take the little one to nursery school, get by to the end of the month…?

You can now apply for an Elección loan and get a better price if another person, your mother, a friend, a neighbour or workmate, your boss, your sister, your cousin from back home… or even someone you do not know, supports you by opening a Deposit account: Elección.

Characteristics of the Loan: Elección:

• Maximum sum: €60,000. Minimum sum: €1,000.
• Term: minimum term of 1 year and maximum of 5 years

  Remember that you can improve the conditions on your loan if another person supports you by opening a Deposit account: Elección for the same amount and term as your loan.

• Interest rate:
  • The nominal interest rate is linked to 1-year Euribor. The margin added to the reference rate depends on the terms and conditions of the associated Deposit CAN Aliado.

    The interest rates applied range from 1.65 % to Euribor + 4..

  • The initial agreement on the terms and conditions of the deposit/loan defined in order to open the accounts will last throughout the period established. 
• Revision of the interest rate: annual. The interest rate of the deposit account will be revised on the same day the interest rate of the loan is revised.
• Settlement and amortisation: monthly, French system
• Fees: no fees apply.
• Surety: these loans are granted under personal surety. The deposit which acts as surety for loan payment can be hypothecated. In this event, the conditions governing the interest rate applied are different.

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