To commemorate the fortieth anniversary of the return of democracy, the Banco de la Nación Argentina (hereinfollowing Banco Nación) has launched a new credit line with a nominal annual rate (TNA) of 40% for dependent, self-employed and retired people and for small and medium-sized enterprises (SMEs).
In the case of humans, it is a single signature line of credit (unsecured). Men and women workers in a dependency relationship and retired people who receive their assets in the bank may access it, as long as they have a seniority of more than 3 months and your income is not more than $278,000 per month (four times the minimum wage, vital and mobile).
The nominal annual rate (TNA) applicable is 40% during the first year of amortization (first twelve installments). From quota number 13, the applicable TNA is 48%. These are extremely convenient interest rates considering current inflation rates and projections.
- 40%
- Nominal annual rate applicable during the first twelve months of amortization.
The repayment terms are 24 and 40 months, and The amounts that may be requested range from $10,000 to $1,000,000. The amortization system to be applied is the French one, with decreasing installments. As they are personal loans, the beneficiaries will be able to freely dispose of the funds and use them for the destination they wish.
The only difference between the credits for retired people and workers in a dependency relationship is that in the first case the fee may not exceed 30% of the applicant’s net incomewhile for the second group the percentage of affectation is more permissive and rises to 35%.
- $1.000.000
- Maximum amount of capital that natural persons may access.
The request can be made through the BNA+ application and the installments will be debited directly from the borrower’s account. It is a condition to access the credit that the applicants are not informed in the Central Debtors of the BCRA as of December 2020.
The monotributistas and registered managers will be able to access the same line of credit, with identical limits of amounts, terms and conditions, but a notable difference is that from quota 13 the TNA will go from 40% to 53%, and not 48% as in the other cases. However, a bonus of 3 three percentage points per year may be applied to said rate for payment on time of the requested loan. If late payments are verified, the bonus will be permanently lost..
- $278.000
- Net monthly income that, as a maximum, applicants must receive to access the line of credit.
In the case of SMEs, MiPyMEs from all economic sectors that are subject to credit with commercial reciprocity will be able to access the line of credit. The loan may be used for investment or renewal of working capitaland the maximum amounts will be $40 million or $10 million, respectively, and the TNA will be 40% during the first year and from quota 13 it will be equivalent to BADLAR plus seven annual percentage points.
The amortization will be done with the German system, with monthly, quarterly or semi-annual periodicity, according to the flow of funds of the applicant, and the amortization period will be 18 months in the case of replacement of working capital and up to 60 months in the case of investments. The guarantee will be determined according to credit rating.
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