Written in ECONOMY he
The official page of the Bank of Mexico (Banxico) has a payroll credit simulator so that people can calculate the characteristics that it must have when they submit the application with their respective banking institution.
For all the cardholders who are looking to obtain a loan, but do not know the qualities that they must have in order to are more likely to get itthe following Banxico tool is the ideal one.
How is the Banxico simulator used?
First enter this link which will take you right into the simulator option.
Then, you will have to fill in the empty fields that appear; there you will provide the necessary information as your age, monthly income (less than 7 digits), the money you require, and the periodicity of your payments.
Then they will only ask you to put the banking institution where you receive your payroll and if you are a retired or active worker (answer whatever your case may be).
Hit “See results” and that’s it! the same platform it will show you what your payroll credit would be like that derived from your data.
What happens if I don’t get a result?
Do not worry, if the legend appeared to you “No results were found for the search parameters used”, the same page tells you what the error may be.
What the institution indicates is that you must modify the amount of the credit, extend the term or change the periodicity of the payment so that the simulator can give you a result.
All previous is based on the CAT formula (Total Cost Calculator) that “It is a standardized measure of the cost of financing, expressed in annual percentage terms that incorporates all the costs and expenses inherent to the credits granted by the institutions.”
Notably payroll credits are loans granted to workerswhose salary is paid into a payroll account at a financial institution.