ANSES Launches New Line of Credit for Retirees and Pensioners with Subsidized Interest Rates

The new line of credit for retirees and pensioners of ANSES, which will have a subsidized interest rate and will allow access to loans of up to $400,000, is already underway after the publication of the measure on July 15 in the Official Gazette, under the resolution 144/2023.
The steps to follow to be able to take a turn in order to request an ANSES Credit are several, but simple.

The basic guidelines to obtain the loans:
• From $5,000 to $400,000 in 24, 36, or 48 installments.
• Retirees will have access to a loan of up to $400,000, and in the case of pensioners, they will have a maximum of $150,000.
• The fee cannot exceed 30% of the monthly income.
• The credit is deposited in the bank account within 5 business days.
• Before applying for credit, you can simulate the fee by entering my Anses.

Who is it for?

SIPA retirement and pension holders.

Which are the requirements?

• Reside in the country.
• Be less than 92 years old at the time of finalizing the credit.
• DNI (last copy).
• CBU of own bank account that is obtained in the bank, ATM or home banking.
It should be noted that those who take the credit cannot buy dollars

How to request the loan?

1. Gather documentation. The last copy of the DNI is needed to start the application.
2. Check that the personal and contact information is updated in my Anses.
3. Request an appointment to be attended at an Anses office

What is the cost of the procedure?

Free

Interest rate

The cost of the loan will be 29% per year of the Nominal Annual Rate (TNA), so the interest in real terms would be higher since the rate to be considered is the CFT (Total Financial Cost). According to Anses, it represents the “lowest market” interest rate.

Total financial cost

Beyond the rate, the cost that those who take the credit will end up paying is somewhat higher. Including administrative costs, insurance and other variables, the total financial cost (CFT) is the best indicator of what the loan will cost.

Can you apply for the loan now?

The registration to request these credits began on July 15 and must be done with prior appointment at the Anses offices. The agency reported that it will also open its doors on Saturdays to speed up the start of procedures.

Is it convenient to take out the Anses credit for retirees?

Anses credits are very convenient in financial terms. Financing is the cheapest on the market, by far. If one takes into account that until May inflation measured by INDEC ran at 114% per month, it is practically free money since the total financial cost of repaying the loan is directly negative in real terms (37.55% maximum compared to 114% of inflation).

For comparison only, the installment program Now 12 has a TNA of 72.75 percent. In both cases it is, in any case, financing below the rate of inflation. In other words, it is better to buy an appliance with this financing than in “12 interest-free installments” of Ahora 12.

But there is more, the Central Bank today regulates the interest rates paid by banks for fixed terms in pesos. It is at 97% annual nominal, 50 percentage points more than the highest CFT of Anses loans for retirees. In other words, taking credit and placing it in a fixed term is borrowing at a negative real cost and depositing at a return that closely follows -or exceeds, in effective annual terms- inflation. (Infobae)