With Collateral Personal Loan

Get a lower fixed APR than with other loans while earning interest on your collateral.

Apply now! ¹

Use it for all your needs starting at 5.25% APR when you enroll in Direct Payment2

Reduce APR

Use your savings account or a certificate of deposit as guarantee (collateral) to lower the annual percentage rate (APR) and cover your debt.

Earn interest

When you finish paying the loan, the collateral is released, in addition to the interest generated.

Benefits:

  • APR starting at 5.25% when you enroll in Direct Payment2
  • Earn interest on the loan collateral2
  • Apply from $2,000 up to the maximum contributed as guarantee2
  • Terms range from 12 to 120 months, depending on the amount requested2
  • Discount of 0.25% when you enroll in Direct Payment3
  • 0 payments for the first 90 days4
  • Decision and reply on the same day5
  • Direct disbursement to your Popular account, through Mi Banco, for loans with a single debtor6
Apply now! ¹ Compare our loans

How to start the
personal loan application process?

Online

Start now

Telephone

787.294.2572

Visit a branch

Find the nearest one

To apply you must:

  • Be a resident of Puerto Rico
  • Must be 21 years or more. If you are under 21, you must submit an emancipation or marriage certificate
  • Provide your Social Security number
  • Provide your income information

Educational section

Product offered by Banco Popular de Puerto Rico.

1

 Subject to credit approval and compliance with the parameters offered by Banco Popular. Other terms and conditions apply.

2

 Annual Percentage Rate (APR) from 5.50% APR; minimum rate is 5.25% APR after 0.25% discount when you enroll in for Direct Payment. Applies to loans from $2,000 to $25,000 with terms from 12 to 120 months, depending on the amount requested. Maximum amount of the loan will depend on the collateral offered as guarantee. Loans over $25,000 have a fixed APR and it is determined by adding 3.00% to the effective Annual Percentage Yield (APY) of the collateral provided, at the time of approval. A loan of $5,000 at 5.25% APR for 72 months, after applicable discount, would pay $81.11 per month. Certain restrictions apply.

3

 Discount from 0.25% when you enroll in Direct Payment. Certain restrictions apply.

4

 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.

5

 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 1:00 p.m. EST. Same-day disbursement subject to branch hours and to the customer meeting all approval requirements. Other restrictions apply.

6

 Direct loan disbursement to your Popular account requires registration in Mi Banco to process the deposit electronically and applies only to 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, to a Popular account. Popular may require you to close the credit accounts you are consolidating. Other terms and conditions may apply.