LOAN and CARD fees: new relief measures

The Central Bank will adopt the measures in attention to those who decreased their income through quarantine. Penalties are suspended and there will be a drop in rates

The Central Bank is giving the final stitches to the aid measures for debtors of personal loans and pledges, as well as for those who are in difficulty to pay the monthly maturities of credit cards.

As reported by high sources of the Central, the solution with the most possibility of application, in the case of personal and pledge loans, is that those who cannot pay the April installment leave it unpaid, and that obligation is added to the end of the loan as an additional fee.

In that case, there will be no penalties, differential rates or changes in the original conditions of the loan.

And as for credit cards, the short-term measure that will be implemented will be a grace period until April 13 for the maturities that occur on these days. That is, someone who must pay their summary before the 13th can pay on that date without penalties or extras of any kind.

In the case of those who cannot pay even on the new deadline, the penalties will be removed and the remaining balance will be financed at a rate of 49%, that is to say, a reduction in cost compared to the 55% that prevailed until now.

Meanwhile, a solution is still being sought for those who, having lost their income, have no way to cope with the maturities that come in the coming months.

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Written by Argentina News

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