Argentine banks reduce UVA mortgage interest rates

Argentine banks are reducing interest rates for UVA-indexed mortgage loans, driven by a national financing program funded by the ANSES Sustainability Guarantee Fund (FGS). Following a 200,000 million peso tender, several institutions have adjusted their terms for first-time homebuyers.

Banco Entre Ríos has announced a new line offering a rate of UVA + 7.5% for clients who deposit their salaries with the bank. This digital-only process allows for loans up to 150,000 UVAs with terms ranging from 15 to 20 years.

Other major banks have also implemented significant rate cuts. Banco Macro reduced its rate for Selecta Plan clients to 7.5% plus UVA. ICBC offers a preferential rate of 6.9% plus UVA for salary depositors, while Santander has lowered its rate to 9.5% plus UVA for 20-year terms. Credicoop has also adjusted its rate to 7.5% plus UVA for specific clients.