The PIDE credit at SLAB is among the so-called pre-granted loans or also known among professionals in the banking sector, the pre-decided or pre-authorized, that is to say, the Bank with its computer system makes a selection of clients that it considers to be can grant you a loan or credit based on your data and experience of balances in accounts, seniority as clients, without RAI and Financial Credit Institutions delinquency filters, and other lesser-known parameters.
When the credit is already pre-granted, the bank sends a massive letter to all the selected ones telling them that they have available a loan of a certain amount, for example an authorized loan of 6,000 euros, and the client or owner only has to go to the bank, sign the contract that can be with or without the intervention of the Notary or Public Fedatario and dispose of the money.
Therefore, as a general rule, these pre-authorized loans will be received by the vast majority of people who do not need the money because they take it into account in their situation they do not need it and what the bank seeks is to create the need and grant a credit to people with good experience and thus have no problems returning the borrowed capital.
The interest rates that SLAB will charge for the PIDE credit will be the usual market currently around 10%, being SLAB personal loans or consumer loans and repayment terms approximately 5 years.
Based on the foregoing, the SLAB PIDE credit that had to start in 2012 can not be requested at the bank, since they are the ones that take the initiative and only grant it to those that have been automatically selected by your computer system.
Updated to January 2014: SLAB is sending new loan offers to its customers. It offers immediate loans limit 10,000 euros of credit and charges an opening commission of 2.30%. Interest rate of 12.20% and term of the offer until February 28, 2014. If you have the payroll registered in SLAB and you contract a payment protection insurance, you will receive 2% interest