What You Need to Know
BBVA USA offers an interest rate loan discount of 1.00 percent. To earn the discount, you must sign up for automatic withdrawals. The money must be withdrawn from a BBVA consumer checking account. You must open the checking account before you close on your personal loan. The checking account requires $25 to open.
Some loans from BBVA USA could fund the same business day you apply. To receive the funding the same day, you must have the money deposited into a BBVA checking account. The money transfers into your bank account in one lump sum for personal loans.
To apply for a BBVA USA loan online, you must have an invitation code. They send those codes through the mail or to your email. If you have not received a code, you can only apply over the phone or at a branch location.
Customers cannot apply for all loan amounts online. You can only apply for a BBVA USA loan up to $35,000 online. If you want a higher loan amount, you can apply for up to $100,000 over the phone or at a branch location. You must receive approval for the loan amount you receive.
Qualifications to Apply for BBVA USA Loans
- Annual Income: Verifiable
- Job History: Verifiable
- Debt-to-Income Ratio: DOSCC
- Minimum Credit Score: DOSCC
- Credit History Length: DOSCC
- Credit Bureau Inquiries: DOSCC
- Bankruptcy History: DOSCC
- Past Loan Denial: >6 months
- U.S. Citizenship Required: Yes
- Required Age: Legal
- SSN Required: Yes
- Valid Bank Account Required: Yes
Useful Information About BBVA USA Loans
- Business Loans Offered: Yes
- Cosigner Loans Offered: No
- Joint Loans Offered: Yes
- APR Range: 4.99-28.99%
- Fixed Interest Rates: Yes
- Repayment Options: ACH, app, branch, online, phone
- Payments Due: Monthly
- Payment Methods Fees: No, but interest rate discount for ACH from BBVA account
- Smallest Loan: $2,000
- Largest Loan: $35,000 online; $100,000 branch or phone
- Loan Term Lengths: 12-72 months
Additional Relevant Information
When you apply for a loan with BBVA USA, they do a soft credit check on your information. Once you have approval, you can choose the loan repayment option that works best for you. If you want to pay your loan off quickly, you can choose a shorter-term, with higher monthly payments. If you want a lower monthly payment, you can select a longer-term.
BBVA USA personal loans do not have an application fee or any origination fees. You receive the full amount BBVA approves for you. You do not have to use part of your loan amount to cover fees.
History and Achievements
BBVA opened its first branch in Birmingham, Alabama, in 1964. The bank was initially called Central Bank & Trust Company. They were the first bank open on Saturdays. By 1975, they had over $1 billion in assets, and by 1995, they had over $10 billion in assets. In 2007, Compass Bancshares became part of Banco Bilbao Vizcaya Argentaria. It was then named BBVA Compass.
BBVA received awards for:
- "Leader in 2019 Mobile and Online Banking Awards" by Javelin Strategy & Research
- Named "Best Digital Bank in North America" by Euromoney in 2016
Today, BBVA USA has over 300 branch locations across 13 states in the United States. Around the world, they have over 77 million customers. They employ over 120,00 workers. They have branch locations in more than 30 countries around the world. BBVA has over $770 billion in assets.
Frequently Asked Questions
Can I apply for a loan entirely online?
Yes, if you have an invitation code. You cannot apply for a BBVA loan online if you do not have an invitation code.
What is the lowest my credit score can be?
BBVA USA does not have a set minimum score required to open a loan. Loan approval depends on your credit history. Other factors include credit score, income, debt, and bankruptcies.
What is the smallest loan amount available?
The minimum loan amount with BBVA is $2,000.
What is the largest loan amount available?
The largest amount you can apply for online is $35,000. You can apply for up to $100,000 over the phone or at a branch location.
What are the loan term lengths?
The term lengths for BBVA personal loans range from 12-months to 72-months. Your term length depends on your application.
Are the interest rates competitive?
The interest rates for BBVA personal loans are competitive with other lending companies. The interest rate you receive depends on your qualifications.
Are the interest rates fixed?
Yes. BBVA USA offers fixed interest rates for unsecured loans.
What types of loans are available?
BBV offers personal unsecured loans, home equity loans, and auto loans. You can use personal loan money for debt consolidation or major expenses.
What information do I need to apply for a loan?
BBVA requires basic personal information, including date of birth, address, and email. They will verify your SSN, income, and bank account information. Other information may be necessary, depending on your application.
How long does approval take?
Approval can be the same day you apply for the loan. Approval may take longer if other documents are necessary for your application.
How long will it take the money to enter my account after approval?
If you apply online, the funds could transfer into your account the same business day. Same day funding requires a BBVA checking account. Funding time depends on your application, qualifications, and BBVA. Funding may take longer for some applications.
If I have been denied a loan before, how long do I have to wait to apply again
You must wait at least six months before you apply for another personal loan from BBVA.
What are the payment options to repay my loan?
You receive an interest rate discount for signing up for automatic withdrawals. The money must come from a BBVA checking account to receive the discount.
Can I pay my loan off early?
Yes. There are no fees for paying your loan off early.
Is my information secure?
Their security measures comply with federal laws. Their computers have safeguards. Their buildings and files are secure.
Does this loan company offer a mobile app?
Yes. BBVA offers a mobile app for online banking. Through the app, you can set up alerts and make payments.
How do I contact customer service?
Through phone, email, mail, or by visiting a branch location. You can follow BBVA USA on Facebook, Instagram, LinkedIn, Twitter, and YouTube.
Bank Contact Information
BBVA USA
P.O. Box 10184
Birmingham, Alabama 35202
877-737-7727
