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Now what Santander has an open loan campaign, it is recommended to be alert because at the end of the term that they mark you end up paying double what you requested.
For example, if you request 50 thousand pesos, the bank authorizes 51 thousand pesos, because a thousand pesos, they use it in management and a specific payment, which is not the commission for opening credit.
The annual fixed ordinary interest rate is one 45% according to the financial run that the bank makes at the time of making your request, which implies a monthly rate of 3.75% about the unpaid.
The financing is payable over a term of 36 months and at the end of it you will have paid one hundred thousand 600 pesos, that is, double what you requested.
The good thing about financing is that the Bank of Mexico raises the interest rate, which is the reference of a fixed annual cost, which will not be influenced by the adjustments of the reference interest rate that is made.
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