Simple Préstamos - Cash Loan is a finance application that offers quick loans to Mexican residents. The app is designed to provide loans ranging from $500 to $4,000 pesos, with a loan term of 91 to 180 days. The maximum APR interest rate is 24% per year, with a service fee of 0% and an average CAT of% plus VAT.

To illustrate, let's say you take a loan of $4,000 with a loan term of 91 days. The monthly interest rate will be 2% (24% / 12), and the monthly interest will be $80. The total monthly payment will be $1,413.33, and the total interest will be $There is no VAT charged, and the total payment amount will be $4,242.66.

To apply for a loan, you need to be a Mexican resident over 18 years old with a debit account that is at least one year old and a valid IFE/INE. You can download the application to apply for a loan.

The app offers two payment options: payment through OXXO stores using the reference number provided in the app or payment through electronic transfer from your mobile bank. Payment details are always available in the app.