How much do the new UVA credits from the City and Province banks give you?

Two of the most important public banking entities launched new financing instruments, with lower fees than traditional loans

10/30/2024 • 11:59am • LOANS

In a context of strong growth in financing and personal loans by the private sector, Banco Provincia and Banco Ciudadtwo of the most important public banking entitiesannounced the launch of a new line of personal loans adjusted by UVAwith different terms and rates, although, in both cases, with more than attractive conditions.

It is important to remember that, like UVA mortgage loans, These credits are linked to inflationsince the Purchasing Value Unit is a measure that is updated daily according to the Reference Stabilization Coefficient (CER), based on the Consumer Price Index disclosed by INDEC.

Its value is updated daily and can be consulted, at any time, on the website of the Central Bank of the Argentine Republic. The amount of UVAs of a personal loan is calculated by dividing the total amount of the loan by the UVA quote.

What are the new personal loans from Province and City like?

In the case of Province Bankthe new line of credit offers up to $50 millionwith a maximum term of 48 months. The rate It is fixed at 10% annually on the capital adjusted by UVA for those who receive their salaries through the bank, and 12% for the general public. However, the value of the fee cannot exceed 25% of the client’s income.

This line allows access the highest maximum amount in the Argentine financial systemwith a lower fee than traditional loans. For example, for a loan of $1 million, equivalent to 863.45 UVAs, with a value of $1,158.15 per UVA and a term of 48 months, The initial fee is $26,939.67.

It is aimed at natural persons, subject to credit, without age limit or specific destinationso it can be used for automotive, home parts, furniture, equipment and more.

On the side of City Bankits new line of UVA loans aims to the remodeling, expansion and completion of unique and permanent homes, with an amount of up to $100 milliona maximum period of 120 months and a German depreciation system, which is characterized by have decreasing fees over time.

The entity specified that the financing covers up to 100% of the budget of the work, with a maximum equivalent to 50% of the value of the property.

The Annual Nominal Rate is 8.5% more UVA for projects that promote energy efficiency (such as improving insulation in the envelopes of buildings, installing double or triple-glazed windows and implementing efficient air conditioning systems). For other cases, the TNA amounts to 9.5%, plus UVA.

For example, for a bathroom and kitchen remodel with the installation of a high-efficiency water heater, $10 million could be requested, with a first installment of $164,000 over a period of 120 monthsaccording to the UVA value as of October 21.

This line of credits It is available in all areas of influence of Banco Ciudadincluding the Buenos Aires Metropolitan Area (AMBA) and the provinces of Córdoba, Mendoza, Tucumán and Salta.