The measure includes goods and services in more than 30 items of national production throughout the country.
In this way, the maximum direct discount rates that bank issuers can apply to the trade, to be collected within 10 business days after the sale is made for each financing plan they are 5.11% for three installments; 9.77% for six; 18.18% for 12; 24.55% for 18; and 35.83% for 24.
In turn, although many businesses do not charge interest, new maximum limits were established for each financing plan.
A) Yes, the maximum interest that can be charged on the cash price is 5.39% for three installments; 10.82% for six; 22.22% for 12; 40.53% for 18; and 55.85% for 24.
In the same way, the Resolution formalizes the readjustment -announced last Thursday- of the interest rates for the program, in force at this stage until June 30.
In this way, the Annual Nominal Rate (TNA) for payments in three, six and 12 fixed installments will be 42%, while for 18 and 24 fixed installments it will represent 49%.
Previously, rates stood at 33% annual nominal and 38%, respectively.
Thus, The interest rates of Now 12 are still below those of the market, since a personal loan has an approximate interest of more than 60% per year.
Interior Trade said in a statement that “this adaptation responds to the growth that the Now 12 Program has had, and in view of its sustainability in accordance with the recent evolution of the monetary policy rates of the Central Bank of the Argentine Republic (BCRA). and to the policy of the National State of tending to the harmonization of interest rates”.
According to the recitals of the resolution published today, “The planned financing rate means a stimulus for the promotion of sales of locally manufactured products and, therefore, it is convenient for both suppliers and businesses, as well as for consumers.”
The program works seven days a week, and all products and services can be purchased online and at participating stores throughout the country, which must display the program’s logo for consumers’ knowledge.
Among the most important items included in the program are appliances, appliances, computers, notebooks and tablets; mattresses, furniture, construction materials and tools, bicycles, clothing and footwear.
With 24.9 million purchases, the program registered from January to April of this year operations for $411,677 million pesos with an average ticket of $17,585, and among the best-selling items are clothing, appliances and construction materials.
Source: Ambito
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