Restructure BBVA payroll loan

2023-08-03 22:15:21

The bank for good payer is offering me a restructuring of my payroll credit with a preferential rate, from 24% to 20.75% per year, with previous insurance reimbursement and others.

They made me the simulation that with these new conditions it would save me, for example, 75,000 pesos in interest against the previous credit.

My question is, what benefit does the bank get? I understand that I can ask for even more additional money or just enough to pay off the previous loan, so if I ask for more money, I pay more interest, but if I only pay off the previous one, the rate will drop.

Has anyone experience with this?

Gracias