Banco Macro Reduces TNA of UVA Mortgage Loans to 7.5%

Banco Macro has reduced the TNA of its UVA mortgage loan line from 8.5% to 7.5% in September, making it an attractive option for financing homes. This measure aligns with the Government's efforts to promote this type of loan. The credit can be repaid over a period of up to 20 years and is available nationwide, not only for property purchases but also for improvements and renovations. The new rate coincides with the maximum set by the Government for mortgage loans funded by the FGS. The proposal is aimed at clients of the Select Salary Plan, and their children can apply for the loan individually. The bank assesses the applicant's income to determine the loan amount. The Government plans to use part of the FGS funds from ANSES to provide banks with more long-term resources, with a program that contemplates up to 2,000,000 million pesos. The bids will be for up to 200,000 million pesos, where entities will compete for the funds, with rates starting at UVA plus 2.5% and UVA plus 4.5% for terms of one and five years, respectively. Each entity can receive a maximum of 20% of what is offered in each bidding, and they will have 90 days to convert the resources into loans, which must have a maximum rate of 7.5%, a minimum term of 15 years, and a cap of 150,000 UVA per operation.

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