Banco Ciudad Reduces Mortgage Loan Rate to 6.5%

Banco Ciudad announced a reduction in the interest rate for mortgage loans to 6.5% to facilitate the purchase of the first home. With this new rate, the installments will be among the lowest in the market, similar to or lower than rental costs. For a loan of 100 million UVAs over 25 years, the initial installment is 658,000 pesos, requiring total income starting from 2,632,000 pesos. This measure is supported by the funding obtained in the first auction of the ANSES Sustainability Guarantee Fund, promoted by the national government to boost mortgage credit in Argentina. The loans are available for employees in a dependent relationship who receive or transfer their salary account to Banco Ciudad, as well as for self-employed individuals and freelancers. The entry installment cannot exceed 25% of the household income, and it is allowed to present up to one guarantor to increase credit capacity.

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