Banco Nación launches new UVA vehicle credits in Argentina

Banco Nación has expanded its ‘+Autos con BNA’ program, introducing a new credit line using the UVA (inflation-adjusted) unit to finance the purchase of new and used vehicles. The program offers loans up to $100 million, covering up to 100% of the vehicle's value without requiring a pledge. Terms for UVA loans range from 12 to 60 months, with interest rates of UVA + 19% TNA for clients who receive their salaries at the bank and UVA + 25% TNA for others. A traditional fixed-rate peso option also remains available with terms up to 72 months.

This expansion comes amid a complex economic landscape in Argentina. A report by Econviews indicates that rising credit delinquency is driven by structural economic factors rather than new debtors, noting that 84.4% of irregular balances come from long-term debtors whose capacity to pay has been eroded by declining disposable income. While some specialists express skepticism regarding the real cost of UVA rates, Minister Federico Sturzenegger defended the initiative, emphasizing the importance of offering longer repayment terms, such as five years, to stimulate demand in the automotive sector.

Additionally, Banco Nación has implemented measures to assist existing debtors, including reducing interest rates for debt refinancing from 35% to 29% annually. The bank also launched an ‘Electro Fest’ promotion, offering 24 interest-free installments on technology products through its digital platform.