Movistar Money Increases Loan Limit to 50,000 Euros to Attract New Clients

This alternative leg of the teleco is being one of the most profitable and that is why it wants attract new clients who want larger loansso the previous limit of 15,000 euros is now history.

Up to 50,000 euros loan

Movistar’s loan service is going from strength to strength, to the point that last year it reached 60 million borrowed capital, tripling the figures from the previous year. This business is turning out to be profitable for the company, so they have a plan in place to achieve more profitability in this finance vertical.

Movistar Money from now on has improved the maximum capital to lend. This amount had previously been raised from 10,000 to 15,000 euros during the month of July, but now it is increasing significantly more.

From now on, Movistar Money offers a second variant of the personal loan from 2,000 to 15,000 euros. This, according to its website, is called a project loan and allows request 20,000 to 50,000 euros to be paid in 24 to 84 months.

This amount is returned according to the French amortization system and has a nominal interest rate (TIN) from 6.14% (maximum 13.56%) and an Annual Equivalent Rate (APR) from 7.99% (maximum 15.99%). For example, for the maximum amount currently allowed and the greatest number of installments possible to repay it, 84 months, the client would pay an installment of 772.09 euros each month. The total to be returned would be 64,855.56 euros, 50,000 of capital and 14,855.56 of interest.

Whichever operator you are

One of the advantages that Movistar Money has is that You do not necessarily need to be the operator blue, since since May of this year it was opened to all clients by partnering with the European credit platform Younited.

These loans are offered by both Younited and Telefónica Consumer Finance, financial of Movistar which was born under a collaboration agreement with CaixaBank Payments and Consumer, which guarantees the operation and solvency of Movistar Money.

Thus, anyone who needs financing can apply for their loan online and receive the money in 24 or 48 hours after its approval according to the financial health of the applicant. One of the advantages over other financial institutions is that you can use it for whatever you need, without having to justify the project.

For greater peace of mind, you can also secure your loan with the optional payment protection insurance. This covers you against possible eventualities, such as the loan installments or the balance pending amortization in the event of temporary disability, unemployment, hospitalization, disability or death. Both Telefonica Consumer Finance and Younited will offer you the possibility of contracting it, as well as all the detailed information and insurance conditions, during the loan application process.