• TRM (USD/COP)COP 3,235.59 +1.65% +COP 52.60Colombia's official exchange rate (Financial Superintendence), valid Nov 4 to Nov 4
  • EuroCOP 3,617.08 +1.72% +COP 61.02Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
  • Mexican pesoCOP 173.98 +3.35% +COP 5.64Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote

Banco Ciudad cuts rate to 7.5% on its mortgage loans for home upgrades

FinanceInternationalInfobae40 s readAI summary
Image: Infobae

Banco Ciudad cut the fixed rate (TNA) on its UVA mortgage loans for home upgrades from 9.5% to 7.5%, aimed at existing owners seeking a larger home. The line offers terms of up to 25 years and a maximum amount of AR$200 million, and now allows financing simultaneous buy-sell transactions. According to the bank, the cut is backed by new funding obtained through its participation in FGS Anses tenders.

In 40 seconds

  • The fixed rate falls from 9.5% to 7.5% TNA, with terms of up to 25 years and a maximum amount of AR$200 million.
  • The line is for legal adults with income at Banco Ciudad, or monotributistas and self-employed workers with the Paquete Crecer.
  • It finances up to 75% of the property and the installment cannot exceed 25% of net income.
Read the full story at Infobae

IASummary generated by artificial intelligence from a story by Infobae. It may contain errors: the original source prevails.

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