Banco Popular’s Unsecured Personal Loan is designed for those seeking flexibility and speed. Users can borrow from ETB 108,000 up to ETB 1,890,000 (approximately $2,000 to $35,000), with terms ranging from 12 months to 84 months. Remarkably, checking your eligibility and available offers online does not affect your credit score, making this process stress-free for customers cautious about their credit history.

The interest rates are competitive and are determined based on your credit profile and chosen repayment term. Further, if you enrol in direct payment, you’ll receive a 0.5% discount on the standard APR, ensuring lower monthly payments. The funds are deposited directly into your Popular account, sometimes on the same business day if approved before 2 pm.

How to Apply for the Unsecured Personal Loan

• Access the online application and check preliminary offers without credit impact
• Select your loan amount and preferred repayment terms
• Provide your personal and financial details
• Digitally sign your agreement for convenience
• Get funds quickly deposited to your Popular account

Pros of the Banco Popular Unsecured Loan

One major advantage is instant eligibility checking with no credit score penalty, ideal for those cautious about their financial footprint.

The wide range of loan amounts and flexible repayment terms allows borrowers to tailor repayments based on their budget and needs.

A 0.5% APR discount for signing up for direct payment reduces the overall cost of borrowing for eligible applicants.

Cons of the Banco Popular Unsecured Loan

The loan is available only to residents who maintain an account with Banco Popular, which limits access for new customers.

Loans above ETB 1,890,000, renewal requests or co-applications require visiting a branch or making a phone call, adding extra steps for higher sums.

Our Verdict

Banco Popular’s Unsecured Personal Loan is a robust choice for eligible customers who value an online-first, hassle-free experience. The credit-friendly approach and fast disbursal make it suitable for urgent personal needs. Still, be aware of eligibility requirements and limits on larger loans. Overall, it’s a competitive solution worth considering for its speed and flexibility.