Evolve Finance offers, among its financial products, payday loans of a high enough amount to cover almost any project. Small-scale financing has a very wide offer, but when the amounts and terms are extended, there is not so much to choose from.
In this case the Evolve Finance payday loan grants a minimum of 6,000 USD that could reach a maximum of 30,000 USD to be repaid in installments for a maximum period of 96 months.
The Evolve Finance payday loan is designed for people who need significant amounts of money. So much so that if the amount is less than 6000 USD, Evolve Finance does not grant this product, but instead offers one of its cards as an alternative.
The amount to request, therefore, must be in a range between 6,000 and 30,000 USD, with a return period that can be up to 96 months (8 years).
However, this term does not operate for any type of credit. In the simulator that Evo incorporates on its website so that the client can know the amount of the installment depending on the conditions, it can be verified that for loans up to 10,000 USD, the maximum repayment period is 48 months, and only if the amount it is higher, it can be extended up to 96.
When it comes to payday loans, it is always a good idea to read the fine print, since that is where we will know exactly what type of commissions are going to be applied to us. The Evolve Finance case is not an exception, given that, at least, some data is confused on its website.
Concerning commissions, it specifies that no study or opening commissions will be charged, but this information is not in accordance with what is indicated in the table of commission rates and expenses applicable to customers in payday loan operations, in which specifies that the opening commission can be up to a maximum of 10%.
Other commissions that should be mentioned, and which appear in said table, are the penalties for early amortization (between 0.5 and 1% of the capital already amortized) and a charge of 30 USD for each time the payment claim is not effective. and must be charged later than the agreed date.
Regarding interest, the simulator establishes different interest rates based on the amount and the term. These range from a minimum of 7% TIN to a maximum of 18%.
The advantages that Evolve Finance offers with this product are, in addition to a large amount (large enough to be able to face projects such as the purchase of vehicles, travel or renovations), the long term of return, online management and possibility of requesting it without having to change banks.
The client does not need to open a new account to access this financing. Once the request for approval has been completed, you can pay the loan installments through your usual bank account if your request is accepted.
It is also emphasized, like other advantages associated with this loan, is the need not to contract related products. It is known that the practice of requiring that some type of insurance be contracted is quite widespread in the banking sector, therefore, in this sense, this can be considered a real advantage.
In principle, any natural person of legal age, resident in Spain and who can prove regular income through a payroll or pension can have access to this product. No type of extra guarantee is required.
In any case, it is the entity that, after a detailed study of the applicant’s particular conditions, makes the final decision in this regard.
In order to have an Evolve Finance payday loan it is necessary to make the request and send the required documentation through the questionnaire on its website. After 48 hours, an answer is obtained from the entity, and within the next 48 hours, the money is deposited in the indicated account in those cases in which it has been affirmative.
Although it may initially seem like an interesting product when evaluating both the amount and the term and the interest, the lack of concrete information on its website makes it necessary for the applicant to carry out additional research on their part. Contacting the financial company itself to obtain a detail of the applicable conditions in writing or googling for opinions never hurts in this type of case.