Popular’s Unsecured Personal Loans offer a streamlined way to access funds for your needs. With loan terms ranging from 12 to 84 months and limits up to ETB 2,000,000, this loan caters to a wide range of borrowers. Interest rates are determined based on your credit profile and the selected term, making rates competitive for qualified applicants. The application process stands out with its soft credit inquiry feature, allowing you to check eligibility without any immediate impact on your credit score.

How to Apply: Step by Step

1. Visit the online application portal and enter your details, including contact and identification information.
2. Select your desired loan amount and repayment term, from 12 up to 84 months.
3. Check your approval status instantly after your submission. The system uses a soft credit check to pre-qualify.
4. If approved, review the offer, sign the agreement digitally and receive funds in your Banco Popular account the same day.

Key Benefits

One significant advantage is the fully online application, which makes the lending process quick and hassle-free. Applicants get a decision instantly without the stress of a hard credit pull.

The loan offers large flexibility in both amount (starting ETB 110,000 approx.) and repayment period. Additionally, discounts are available for borrowers enrolling in Direct Payment, reducing overall borrowing costs.

Loans are disbursed rapidly, usually on the same day of approval, giving fast financial relief when needed. There’s also an option for no payments during the first 90 days, providing initial breathing room.

Drawbacks to Consider

Applicants must have a Popular account to receive funds, which may not be ideal for those without an existing banking relationship.

Borrowing limits via the online platform top out at ETB 2,000,000; larger requests require visiting a branch or contacting customer service. Interest rates, while competitive, are variable based on your specific creditworthiness.

Verdict: Is Popular’s Unsecured Personal Loan Right for You?

Popular’s Unsecured Personal Loan is a compelling option if you value speed, flexibility, and convenience. The simple application process, instant feedback, and same-day disbursal stand out for urgent borrowing needs. However, having to be a Popular account holder and the upper loan amount cap online may limit some applicants. For most individual needs, though, this loan is a straightforward choice offering a safe, reliable and quick lending experience.