Monto
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About this app
Monto is an all-in-one benefits platform that allows employees of affiliated companies to access their earned wages without having to wait until payday, apply for payroll loans 1, pay for bills, buy gift cards, receive discounts and much more - confidentially and securely at any time. Monto provides users with the necessary tools to achieve their financial goals.
With Monto, employees no longer have to wait for payday to receive the money they have already earned. Any day can be payday! In case of an emergency or unforeseen event, you can access your earned wages on demand in less than 2 minutes.
1 - Payroll loans in the Monto app can be underwritten by Monto, one of our affiliated lending partners or employers themselves. Loans can range from $5,000 to $40,000 MXN with a maximum APR of 35.00% with a 6 to 36 month term. For example, if you receive a $10,000 MXN loan with a 6-month term, biweekly payments and a 35.00% APR, your total cost would be $11,133.36 MXN and your required biweekly payments would be $927.78 MXN and the first installment would be comprised of $758.61 MXN of principal, $145.83 MXN of interest and $23.33 MXN of VAT. For all details regarding a loan, make sure to consult the loan amortization schedule provided.
All loans require application and approval by the lender. Depending on the lender, other fees may apply, such as origination fees, insurance costs or late payment fees. See lender's terms and conditions and loan agreement for additional details. Please consider you may not qualify for the lowest rates or may not qualify for a loan at all.
With Monto, employees no longer have to wait for payday to receive the money they have already earned. Any day can be payday! In case of an emergency or unforeseen event, you can access your earned wages on demand in less than 2 minutes.
1 - Payroll loans in the Monto app can be underwritten by Monto, one of our affiliated lending partners or employers themselves. Loans can range from $5,000 to $40,000 MXN with a maximum APR of 35.00% with a 6 to 36 month term. For example, if you receive a $10,000 MXN loan with a 6-month term, biweekly payments and a 35.00% APR, your total cost would be $11,133.36 MXN and your required biweekly payments would be $927.78 MXN and the first installment would be comprised of $758.61 MXN of principal, $145.83 MXN of interest and $23.33 MXN of VAT. For all details regarding a loan, make sure to consult the loan amortization schedule provided.
All loans require application and approval by the lender. Depending on the lender, other fees may apply, such as origination fees, insurance costs or late payment fees. See lender's terms and conditions and loan agreement for additional details. Please consider you may not qualify for the lowest rates or may not qualify for a loan at all.
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