Banco Provincia launches housing credits and debt refinancing

Banco Provincia has introduced new financial products aimed at housing and debt management in Argentina. The bank is offering UVA-indexed mortgage loans specifically for the construction, expansion, or renovation of homes within the province of Buenos Aires. These loans can reach up to 250,000 UVA, with repayment terms of up to 20 years. Financing limits vary between 70% and 80% of the project value depending on whether the client receives their salary or pension through the institution.

Additionally, the bank has launched a debt refinancing scheme designed to reduce monthly payments by up to 20%. This program targets various levels of delinquency, offering reduced interest rates for early arrears (up to 90 days) and even lower rates for advanced arrears (over 90 days). For example, clients with incomes up to four minimum wages may access rates as low as 25% TNA under the advanced delinquency scheme. The program allows for the consolidation of credit card balances and personal loans into a single monthly payment.