Cash Max - Préstamo de dinero

What Cash Max lends and to whom

If you need a few thousand pesos and do not want a credit check holding up the request, this is the kind of lender the listing describes. Cash Max is an online personal loan app for Mexico. The developer lists amounts from MXN 500 up to MXN 50,000, with terms of 91 to 180 days.

The listing is written in Spanish and addresses individuals in Mexico. It presents the loan as one that is arranged without looking at your credit history. The developer's own office is in Mexico City.

Applying with a phone and an INE card

According to the developer, an application takes three steps. First you register with your mobile number. Then you fill in your personal details. Finally, the loan is paid into your own bank account.

The listing says the only document needed is an INE, the Mexican national ID card, which you photograph within the app. Because no credit bureau report is pulled, the developer presents the process as free of paperwork. Requests can be made at any hour, every day of the year, so an application is not tied to office opening times.

Loan terms, interest and the worked example

You choose the repayment term yourself, anywhere from 91 to 180 days. The developer says a longer term spreads the payments out and reduces the pressure of each one.

The listing gives a maximum annual interest rate (APR) of 10.95% to 100%, with IVA, the Mexican value added tax, not included in that figure. It also gives a representative example. For a MXN 5,000 loan repaid over 120 days in four payments, the total interest is MXN 1,800 at a stated rate of 0.3%, with IVA of MXN 288. The total to pay is MXN 7,088, divided into four instalments of MXN 1,772, which the listing describes as monthly.

The example is the only worked figure in the listing, so it is the clearest guide to what a loan of that size costs under the stated terms. Your own rate will depend on the terms offered to you, and the listing gives no further detail on how that is set.

Receiving the money and paying it back

The loan is deposited into your own bank account. The listing warns that the deposit can take up to one business day to be validated before the money appears.

Repayments are made online. The developer names SPEI, the Mexican interbank transfer system, which you can use from your bank's app. The listing says this is free and available around the clock. It mentions several online payment options in total.

Finally, the listing says that paying on time gives access to larger amounts and longer terms on later loans. It does not say what counts as on time or how the limits change.

Contacting the lender and how personal data is handled

The listing gives a telephone number, +52 55 4172 5602, and an email address, contactomaxcash@gmail.com, along with a website at cashimax.com. Phone and email support run Monday to Friday from 9:00 to 18:00 and on Saturdays from 9:00 to 15:00.

The developer's listed office is at Av. Sonora No. 27, Int. 6, in Roma Norte, Cuauhtémoc, Mexico City. On personal data, the developer states that information is protected under its privacy policy and is not shared without your consent. The full policy is linked from the listing on the developer's own site.