Consolidate your debts in a single payment, make improvements to your home, cover unexpected expenses, or enjoy a well-deserved vacation.
The calculator is for illustrative purposes only and is not part of the application process. The results of the calculation are estimates and may vary at the time of evaluating your application under the Bank's parameters.
You can apply online, calling to TeleMarketing at 787.724.3659 or in any of our branches.
Same day credit decision applies to applications received on working days, from Monday to Friday from 8:00 AM to 5:00 PM. Same day disbursement subject to service hours of the channel you choose to complete the process: branches or disbursement through Mi Banco until 4:00 pm. and receiving all the information required to evaluate the application. Certain restrictions apply.
We offer the following disbursement options:
Electronic through Mi Banco
Disbursement of your loan directly to your account, wherever you are. You could receive the money in your Popular account the same day, subject to meeting the established parameters.
Scheduled appointment at your preferred branch
One of our representatives will contact you, once the loan is approved to review the terms and conditions and will schedule an appointment at the branch of your choice to sign the documents.
Visit a branch
Visit the branch of your choice at your convenience. You will be assisted according to the waiting time when you come in.To qualify, you must meet the following parameters:
A single signatory on the loan
Mi Banco customer registered for at least 6 months
Activity in the Mi Banco account over the last 3 months
If the purpose of the loan is to consolidate debts, they must only be from Banco Popular
We have the option of paying your loan through Mi Banco Online, however for your convenience we have Direct Payment, which gives you the tranquility of making your payment on time to avoid delays. In addition, with Direct Payment you get a from 0.25% up to .50% when you enroll in Direct Payment, may vary by product. Certain restrictions apply.
Product offered by Banco Popular de Puerto Rico.
Subject to credit approval and to the parameters established by the Bank. Certain restrictions apply.
Same-day credit decision for applications received on business days, Monday through Friday, from 8:00 a.m. to 5:00 p.m. Same day disbursement subject to service hours of the channel you choose to complete the process: branches or disbursement through Mi Banco until 4:00 pm. and receiving all the information required to evaluate the application. Certain restrictions apply.
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.
A discount from 0.25% up to .50% when you enroll in Direct Payment, may vary by products. Certain restrictions apply.
Direct disbursement through Mi Banco requires being registered in Mi Banco Online to process the deposit electronically and applies only for unsecured loans with a single debtor. If the purpose of the loan is to consolidate debts, the electronic disbursement will only allow the consolidation of debts with Banco Popular and the deposit of the surplus, if any, in a Popular account. Other terms and conditions may apply.
Unsecured Loan: The Annual percentage rate (APR) for Unsecured Loans is from 6.49% APR for 12 months, after applicable discount, up to 29.99% APR. APR will be determined based on your credit history and will vary based on the term you choose. Terms available from 12 to 84 months, will depend on the amount of the loan. New loans start from $2,000 to $75,000. Discount: 0.50% when you take advantage of Direct Payment. Other discounts do not apply. Example: A loan of $5,000 with 6.49% APR for 12 months, after applying the discount to the base rate, would pay $431.46 per month. Other terms and conditions may apply.
Secured Loan: Annual Percentage Rate (APR) is 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: A loan of $5,000 at 6.24% APR for 72 months, after applicable discount would pay $83.43 per month. Other terms and conditions apply.
CrediSavings Loan: The base Annual Percentage Rate (APR) is 6.49%; APR minimum rate is 6.24% APR after 0.25% discount when you enroll in for Direct Payment. Loans start at $2,000 up to $10,000 with terms from 12 to 72 months, depending on the amount requested. CrediSavings is a personal loan product with a savings guarantee. The loan guarantee is a Certificate of Deposit (CD) to be opened when the loan is approved, and the approved amount will be deposited in it. This Certificate of Deposit becomes the collateral for the loan. After making the corresponding monthly payments and at the end of the established term, the money is disbursed, including the accrued interest on the collateral. Example: a $5,000 loan at 6.24% APR for 72 months, after applicable discount, would pay $83.43. Other terms and conditions apply.
Partially Secured Loans: The Annual percentage rate (APR) for the unsecured portion is from 6.99% to 29.99% APR, minimum rate will depend on your credit history, the percentage of guarantee to be granted as collateral from 25% to 99% and will vary based on the term you choose. Terms available from 12 to 84 months, will depend on the amount of the loan. New loans start from $2,000 to $75,000. For the secured portion, the base rate is 6.49% fixed APR. Discount: 0.50% when you take advantage of Direct Payment. Other discounts do not apply. Example: a $5,000 for 60 months loan with an 10.74% APR based on the credit score, after discount and giving 75% in collateral, it will be reduced to 7.62% APR and would pay $100.48 monthly. Subject to credit approval. Other terms and conditions apply.
Calculate your monthly payment: Unsecured Loans: Illustrated monthly payment is an estimated calculation using an APR with Direct Payment discount, depending on the term you choose. Terms available from 12 to 84 months, depending on the amount of the loan. With Collateral and CrediSaving Loans: Illustrated monthly payment is and estimated calculation considering the Direct Payment discount to the fixed APR.
