What does Didi Loans offer?
With Didi Loans You can get from 300 to 30,000 pesos with interest rates ranging from 5% to 12% and without endorsement, according to the platform.
“Retailers, delivery companies or digital business schemes are seeing an important opportunity because the market, due to the issue of low interest rates, has decreased resorting to high-amount loans,” explained Ramón Martínez, an expert in corporate finance. and academic of the Banking and Commercial School (EBC).
What do I have to pay attention to?
In addition to the interest rate, it is important that you pay special attention to a series of points to avoid a headache during the payment of your loan:
Among them are whether the interest rate they charge you is annual or monthly, as well as the total annual cost (CAT), which in the case of Didi ranges from 60% to 242.3%, with the VAT not included.
“The rates are determined based on the risk involved in granting these credits and the probability of default. The higher the risk, the higher the rate,” explained Martínez.
It is important to remember that these loans are granted with compound interest, that is, if you request a loan for 1,000 pesos for two years, the first year you will pay 15% interest, plus 15% of the unpaid balance (what remains to be paid off). ) of the second year, detailed the EBC professor.
It is important that you ask the company, in this case Didi Préstamos, your amortization table, since in it you will be able to identify the payments that you will have to make during the life of the loan: in the table you will be able to notice that at the beginning of the loan more will be paid interest than principal, but this trend will reverse towards the end of your payments.
It is safe?
Didi Préstamos, like any other company whose main line of business is not granting personal loans, does so under the ranking as a service (AaaS)where through a third party -fintechs, small banks, sofipos or some other regulated institution- that gives them the support and everything necessary to operate the loans, said Ramón Martínez.
There are many examples, such as the case of department stores that offer credit cards to their customers.
“We are a service regulated by Profeco”, reads the Didi Préstamos website. This is in compliance with Articles 1 and 24 of the Federal Consumer Protection Law, which establish the power of the Attorney General’s Office to promote and protect the rights of consumers, explained the Condusef when asked about it.
“They’re safe. The resources come from a company that is consolidated, that meets the standards and the legal part that the authorities require, such as the Ministry of Finance and the Condusef”, said the EBC professor.
In addition, he added, in the event of any inconvenience, “all credit contracts when you are not a regulated company must be approved by Profeco and the Ministry of Economy; Profeco reports to the Ministry of Economy”.
How to apply for a loan?
The entire process to apply for a loan is done online.
To process a loan on the platform, it is necessary to be over 18 years of age, provide personal data and send a photo of your current INE and an interbank CLABE.
Wait for authorization.
Expansión sought Profeco, but did not immediately receive an answer.