Personal loan

Open the imagin app, click on the products tab and ask for the loan.

Once the loan is approved and signed by the customer, the money is deposited into the account instantly and is available to use.

Not long. It depends on the requirements for analysing each loan. For example: If we ask the customer for documents (purpose, pay slips, etc.), we can’t analyse the operation until we receive them. In this case, it will depend on how long it takes to receive this information from the customer.

It’s the Annual Percentage Rate, a number that shows the annual cost of a financial product plus any additional costs, such as processing fees, the duration of the product and commissions.

It’s the Nominal Interest Rate, the fixed percentage of interest you must pay to the bank, but without considering any additional costs, so it can’t be used for comparison purposes.

Signing for your loan is super easy! In the section on loans, click on the icon shown in “Documents awaiting signature” and follow all the steps. You will also need the code we will send you via SMS to confirm your identity. If you don’t get it, you can also request it in “Receive code through call”. Make sure the number shown in your Settings is correct. If it’s not, please go to a branch so we can verify your new number.

Open the imagin app and click on the loans tab for information on your loans.

We analyse your financial and personal situation to check that you can repay the loan and that the loan repayment allows you to continue to meet your normal living expenses. If your monthly repayments do not allow you to meet your ordinary living expenses without difficulty, we can refuse you the loan. It is important for you to know that, in order to obtain certain information about your creditworthiness and payment capacity, it is necessary for us to consult external databases of granted risk (CIRBE) and non-payment, such as ASNEF, EQUIFAX or BADEXCUG (among others). We differentiate between two types of analysis depending on whether we already have the information we need to assess your creditworthiness.

You have the right to request the intervention of a person to obtain information about how we have assessed your creditworthiness when you apply for a loan. In addition, if you wish, you may express your opinion and request a review of that assessment. You may exercise this right through the available communication channels.

We calculate the amount of available loans as follows:

• We determine the maximum monthly instalment you could afford based on your income, your average account and deposit balances, and your credit history.
• We adjust this maximum amount by deducting your expenses and any other financial obligations you may have, to calculate the instalment you could realistically afford without compromising your financial stability or the monthly amount you need to comfortably cover your household living expenses. In other words, we will calculate the available instalment.
• To make this adjustment and tailor the available instalment amount to your personal circumstances, we take into account specific factors such as your age and place of residence.
• We apply an interest rate and an average term to the available instalment, which allows us to calculate the final amount of the available loan.

Important:

• The fact that we inform you that you have a loan available for a certain amount does not mean that it has already been granted to you. If you apply for a loan, we will do a final check to ensure that your financial and personal situation remains the same and that it is appropriate for you to apply.
• Therefore, your personal or financial situation could change compared with the initial one we took into account when carrying out the initial analysis, and the final amount of the available loan could be different, or you might no longer have any amount available.
• If you do not have regular income, we assess your creditworthiness using other data, such as account balances. In this case, if we offer you the possibility of having an available loan, you know better than anyone whether the balances in your accounts can be used to repay the loan or not. Consider this before you go into debt, because unless you tell us otherwise, we count on you to do so.

We will assess your creditworthiness when you apply for the loan. This assessment will let us know whether we can grant you a loan for the amount you have requested and on what terms.
Below, we explain the steps we take to assess your creditworthiness from the time you apply for a loan until we inform you of our decision to grant you a loan:

• We determine whether you have the capacity to repay the loan based on your net annual recurring income. We do this by calculating what percentage of your income you spend on your annual payment and financial commitments, including the repayment of the loan you have applied for. The purpose of this calculation is to make sure that the new operation will not put you in a situation of over-indebtedness.
• Furthermore, in order for us to grant you the loan, we will check whether taking on the requested loan instalment would still allow you to have enough funds to cover your household living expenses without difficulty. In other words, we will check that the amount you have available after paying your payment and financial commitments is sufficient for you to meet your monthly living expenses, calculated according to your personal circumstances.
• To determine the amount of household living expenses tailored to your personal circumstances, we consider specific factors such as your age, place of residence, and the number of members in your household, so the available instalment amount is suited to your situation.
• If you do not have regular income, we assess your creditworthiness using other data, such as account balances. In this case, you know best whether or not you can use these account balances to repay the loan. Consider this before you go into debt, because unless you tell us otherwise, we count on you to do so.

To apply for a personal loan it is necessary:

1. That you need it.
2. That you are of legal age.
3. That you have a stable income that guarantees your solvency and repayment capacity both to repay the loan and to be able to continue to meet the rest of your living expenses. We may ask you to provide us with documentation that proves this solvency and ability to pay. We usually ask you for the proof of your income (e.g. of your salary or pension) and your income tax return (IRPF). However, we may ask you for additional documents if we need them to determine whether or not we can give you the loan.