He City Bank launched a new line of personal credits for remodeling, expansion and completion of a single and permanent home, which allow access up to $100 million, for a maximum term of 120 months. These loans are nominated in UVAs, plus a fixed rate which can be 8.5% or 9.5% depending on the energy efficiency of the project.
A notable feature of these loans is that the German amortization system is applied, so the UVAS fee, not necessarily in pesos, goes down as the months go by.
The financing reaches up to 100% of the construction budgetwith a maximum equivalent to 50% of the value of the property.
For example, for a bathroom and kitchen remodel with the installation of a high-efficiency water heater, the lowest rate applies. $10 million could be requested and the first installment would be $164,000 for a period of 120 months (UVA value as of 10/21/24).
Furthermore, these loans They have the German amortization systemin which the capital component is constant in each installment and the interests decrease over time, generating decreasing quotas (in grapes).
The value of the monthly payment is lower (in grapes) as the capital is amortized, due to the reduction of the balance owed and therefore the interest payment.
The interest rate of 8.5%, plus UVAs, is granted in cases where the work generate energy efficiencyFor example, increasing insulation in the existing components of the envelope of a property, installation of double or triple glazed windows (DVH), solar control systems: awnings or curtains, installation, replacement, maintenance and repair of air conditioning systems (heating, ventilation and air conditioning) and water heaters using high efficiency technologies. In other cases, the fixed rate is 9.5%, plus UVAs.
Requirements to access new loans from Banco Ciudad
Individuals over 18 years of age can access these loans, both in dependency relationship as Monotributistas, Self-Employed or Registered Responsible Persons. The figure of a guarantor can be added for the purposes of computing income for the loanable amount.
In the case of employees in a dependency relationship, they must prove salaries at Banco Ciudad or migrate their salary plan to the entity.
In the case of registered Monotributistas, Self-Employed or Responsible, They must adhere to a set of Bank services which include a savings account in pesos with a debit card, a checking account, a savings account in dollars, an optional client account and credit cards, which are granted free of charge for 6 months and, with their use, the bonus can be extended.
Applicants in a dependency relationship will be asked for the last salary receipt, and for independent applicants, a minimum of 1 year of experience registered with the AFIP and the last three payments of pension or Monotributo contributions.
This new line It is available in all areas of influence of Banco Ciudad (AMBA, provinces of Córdoba, Mendoza, Tucumán and Salta) and can be requested at all branches or through the web of the City Bank.
Source: Ambito
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