Rates and conditions
American Express offers fixed interest rates, which is very interesting in the world of loans, as you will know exactly what you are contracting and the total amount you will pay.
In this sense, note that the rates vary from 6.99% to 19.99% APR, depending on your credit profile and the amount requested. The repayment term can be chosen between 12 and 60 months, allowing you to find a plan that fits your monthly budget.
In addition, the money is deposited in the customer’s account within 1 business day after acceptance of the proposal, which also makes the loan ideal for financial emergencies.
Real simulation based on official rates
Let’s consider a loan of US$ 10,000, with a repayment term of 36 months and an interest rate of 12.98% APR — a real rate used in the example from the American Express website. In this case, the client will pay an estimated instalment of US$ 336.85.
At the end of the loan, the total amount paid will be US$ 12,123. That is, the total interest paid will be US$ 2,123. Attention: this is a real estimate disclosed by the institution itself as an example.
Advice for you
Still considering the example above, know that the exact rates and conditions depend on your credit history and the offer that will appear when you log into your Amex account. But you can indeed consider this average when thinking about apply for the American Express loan to get an idea of the rates applied.
This simulation should help you, for example, to compare with other offers in the market. And a final piece of advice we have is: always plan to pay a loan on time to avoid the total amount paid in interest being exorbitant, agreed?
How to apply for the American Express loan?
To apply for the American Express loan, go to your app — the same as your credit card — and check the loan option. There, you will be able to see if you already have pre-approved amounts and check your personalised rates.
Learn more about how to apply for the American Express loan by clicking the button below, which redirects you to the official loan page.
