Accessing financing and personal or business credit options is mandatory for economic growth. You may need a loan to buy a refrigerator, pay an unforeseen, or invest. Regardless of the reason, you should always have a line of credit that allows you to grow and take advantage of the opportunities you find. Forbes magazine published that Mexican banks granted 3.85 trillion pesos in loans to the country’s private sector during 2017. This figure gives an idea of ​​the importance of loans for personal, business and national economic growth. This article evaluates the best personal loans in Mexico for 2019, if you want to know if it is better for you to have a credit card or a debit card check our comparison.

Citibanamex

Citibanamex offers the best financial conditions and payment terms for personal loans in the Mexican nation. The application system is fast, no endorsement or paperwork is required. You can apply online through the bank’s website.

The advantages offered are:

  • The loan can be requested by citizens or foreigners with a residence card with ages between 21 and 79 years.
  • Fixed annual interest rate of 17%.
  • Total annual cost of 27.7%.
  • Maximum amount of 750000 MXN.
  • Deadlines of 24 to 60 months.
  • It can be paid before without penalty.
  • It is deposited in less than 72 hours after its approval.
  • It can be requested through the internet or through its website.

Loan offers three different options to cover your cash or emergency needs

Loan,cash

Personal loans are usually approved in less than 72 hours depending on the amount requested and the credit history. It works like a line of credit since you can order multiple personal loans continuously or simultaneously.

The advantages offered are:

  • They can be requested by people from 18 to 83 years old.
  • Fixed interest rate from 25.75% up to 45.75%, the rate will depend on the credit history and credit bureau score.
  • CAT total annual cost depending on the interest rate varies from 34.5% up to 54.5%.
  • Amounts: from 3000 to 750000 MXN.
  • Deadlines from 6 to 72 months.
  • Fixed payments biweekly or monthly.

The bank offers more than five different products to cover the majority of immediate financing needs

financing money

Personal loans can be requested through the internet and 24 hours a day throughout the year. Your credit limits and deadlines are convenient and the crediting time is fast.

The advantages offered are:

  • It can be requested by users from 21 to 70 years of age. It is available for both. customers of the bank as for non-customers of the financial institution. The applicant must. Acquire a life insurance policy, which you can buy at the institution.
  • The annual interest rate is fixed and ranges from 10% to 45%.
  • The CAT or average total annual cost is 38.7%.
  • Amount from 10000 to 1000000 pesos.
  • Deadlines from 12 to 48 months.

We offers personal loans payroll

personal loans

If your salary or salary is deposited in an account of this financial institution you can request it. If instead your salary is deposited in another institution you can not request this product. Personal loans other than the payroll, only apply to people who have received an offer or invitation by the bank. The monthly payment will be deducted directly from your account each month which saves you a worry.

The advantages they offer are:

  • Available for users between 18 and 64 years old, who own a Banorte payroll account. Likewise, some customers selected from the bank may receive an invitation or offer to apply or request this product.
  • Annual interest rate of 22% up to 40%.
  • CAT or annual cost from 28.2% to 48%.
  • It is deposited in an account in your name within 48 hours or less after your request.
  • You receive supplementary life insurance or included at no additional cost for the period of the credit.
  • Direct charge to your payroll account. You do not have to worry the payments are directly charged each month of the money you receive in your payroll account.

Financial institution of multiple objects registered in CONDUSEF and the CNBV. This company grants personal loans that deposit directly into your bank account in less than 2 hours. You can request several simultaneous loans. After paying a day a loan automatically increase your limit.

The advantages they offer are:

  • Available to all Mexicans over 18 with a bank account.
  • The money is deposited immediately in less than 48 hours.
  • Before accepting the credit, they indicate the total amount you will have to pay and the total cost of the credit.
  • Amount of 1000 to 2000 MXN.
  • Term 30 days.
  • Interest rate 35.7% monthly or 428.4%.
  • Payment by transfer or deposit at the teller.