Benefits in Banco Nación loans
- A single signature (without mortgage guarantee).
- Full or partial early cancellation free of charge.
- Fees are deducted from your account.
- Exemption from VAT on interest in accordance with the provisions of RG AFIP 680/99.
Which users will be able to get the credit
Human Persons in work activity (in a dependency relationship or contracted and self-employed and monotributistas) retired and/or pensioners. Up to two users are supportedat least one of them must be the owner of the single and permanently occupied dwelling to be expanded, refurbished and/or finished.
It must be verified that the user does not have another property suitable for housing by submitting the application form. Ownership Index issued by the Real Property Registry correspondent.
It will be admitted that each applicant may own up to 50% of an undivided part of a property for housing, as long as he proves that he does not reside in said property due to circumstances related to binding divorce or by accepting donations with free usufruct for life on the property, in favor of another person/s.
What interest does Banco Nación offer?
Users in a dependency relationship and retirees and/or pensioners or monotax or self-employed users and for the entire term of the loan:
- For the first twelve months of the loan, a fixed interest rate of 27% annual nominal.
- From month thirteen to month thirty-six the loan rate will be variablecalculated by annual periods from applying the “Percentage of the Increase in the Salary Variation Coefficient (“CVS”)” of the previous calendar year.
- As of the thirty-seventh month, the PRIVATE SECTOR BADLAR RATE multiplied by 1.3taking the rate corresponding to five business days prior to the last business day of the month of November, checking that it does not exceed the current rate for personal loans – Free destination – Asset Portfolio.
For the rest of the Users:
will apply a variable interest rate which will be calculated annually from the rate BADLAR PRIVATE SECTORtaking the corresponding to five business days prior to the last business day of November multiplied by 1.6 during the entire loan period.
Destination of the credits
Expansion, refurbishment or completion of single and permanent occupancy dwelling. To be considered finished, a degree of progress of not less than 60% of the total work must be completed.
Other factors to consider
- Modality: in pesos.
- Maximum amount: up to $4,000,000.
- Support proportion: up to 100% of the work budget without exceeding $4,000,000 and without exceeding 50% of the home’s appraisal prior to the work.
- Amortization: the installments will be settled monthly and by the French system.
- Term: up to 120 months.
- Guarantee: single signature.
Source: Ambito
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