Currently, various banking entities can offer us loans with an accessible interest rate. But how do you know how much you will pay monthly?
In this post, we show you how you can simulate loans online quickly and simply so that you can know which credit will be the most convenient for you.
What is an online loan simulator?
Thanks to technology and its constant advances, we have new tools that, with simple instructions, give us the results we want knowing the payment installments of our loan.
It is how today; we have different applications to simulate online loans without the need to go to the bank of our choice to obtain this information.
An online loan simulator is nothing more than a calculator that lets you know the monthly or annual fee to pay your credit. In addition, this tool gives you a comparative view of the different loan options to choose the best one.
Another feature of simulating loans online is that you can see the amount of debt you will have to opt for the loan of your choice.
How to use an online loan simulator?
Although all the simulators have diverse ways of requesting your data, it generally asks for these mandatory requirements to obtain the results we need:
- Type of credit (personal loan, mortgage, car loan, etc.).
- Initial capital.
- Type of interest rate.
- Term in which you stipulate to pay it.
For example, some banking entities, such as BBVA, have a loan simulator. However, by simulating online loans with a separate application, you can obtain results from different financial companies that adapt to your needs.
With your results, you can choose the most convenient interest rate, depending on the loan requested. In case the level of debt is high, it is your best time to opt consciously for something other than a loan.
Four online loan simulators
Now that we know the tool and how it works, we will show you the four best simulators for online loans and their key features. Go for it!
Préstalo (Lend it)
Préstalo is a tool to simulate online loans without overcomplicating the task. By entering the required data, they will offer you tailored financing, obtaining the information to know which is most convenient for you. To use it, you will have to follow these steps:
- Enter the official portal of Préstalo.
- Enter the amount you wish to obtain as a loan inside the simulator.
- Please enter the time you consider returning the money.
- By clicking “Find your Loan,” you will find the proposals that best suit your requirements.
Carrying out this entire process is entirely online. You will not go to any bank. In a simple study, you get an immediate response.
Billin
Billin is a calculator and simulator for both personal and business loans. Its portal is complete and directs you according to your needs. To calculate your loan, you only must perform the following steps:
- When entering the Billin portal, look for the “Loan installment calculator” form.
- Indicate the amount you need.
- Enter the interest rate of your preference (remember that it is annual).
- Enter the payment time (in this case, you must express it in months).
- Select the type of loan, either personal or business.
- Click on “Calculate.”
You will get the results immediately, comparing prices and annual interest percentage rates.
BBVA
The BBVA bank also offers its quick credit simulator, where you can simulate online loans regardless of whether you are a customer. To use it, you must follow these steps:
- Enter the BBVA portal.
- Indicate whether you are a client of the bank.
- Enter the type of loan you want reforms, energy, car, and others.
- Select the quantity you wish according to your needs.
- Choose the number of installments (you will have a better chance of getting credit if you have more than one headline).
- Choose if you work in a private company or are a civil servant.
- Request your quote with payroll or without payroll
You will obtain results of the most accessible loans proposed by BBVA without having an account within the bank.
Kubo.Financiero
Another alternative to simulate online loans is through Kubo.Financiero. This tool allows you to calculate according to the amount that covers your needs, the term, and the monthly payment, to obtain your ideal loan.
These are the steps to follow to obtain the results of your ideal loan with Kubo.Financiero:
- Go to Kubo.Financiero official website.
- In the form on the first line, complete the amount of money you need.
- Enter if you can pay weekly, monthly, or fortnightly.
- Indicate how much you can pay in each installment.
- Click “I want it!” and learn about its suitable loans.
We remind you of the requirements of this web portal so that you can easily apply for a loan of any kind. These are:
- Have a credit history that is valid for at least six months. It must show that you are punctual with the payments of your loans.
- Your identification must be valid with your proof of address for at least three months.
- Your income should be at least MXN 10,000 per month. In addition, you must be in your current job or business for at least 5 or 6 months.
Simulating online loans is an excellent alternative for finding the appropriate information without leaving home. Loan simulation tools are becoming more functional and proving a worthy ally when accepting a personal loan.
And you? Have you already chosen the online loan simulator of your choice? Please make your best decision regarding obtaining a financial loan immediately.
