Now 12 with modifications: What are they?
The Ministry of Commerce modified the financial conditions of the Now 12 program and set an average annual interest rate of 59.08% for purchases in 3, 6, 12, 18 and 24 fixed installments. The decision was formalized through Resolution 5/2022, published this Tuesday in the Official Gazette.
The financing rate, according to the Executive Power, implies a “stimulus for the promotion of sales of locally manufactured products and, therefore, it is convenient both for suppliers and businesses, as well as for consumers.”
According to the official text, the direct rates of the program will be calculated based on the annual nominal rate equivalent to 85% of the fixed-term rate established by the Central Bank for individuals. The direct rate will be calculated by dividing the sum of the accrued interest in each installment by the value of the coupon, explained Commerce.
The Government highlighted that Now 12 has “an effective regulatory structure to which financial entities, suppliers and businesses have known how to adhere and execute without problems”.
“The sectors involved in the marketing of goods and services included in the program have steadily increased their local supply, managing to supply domestic demand and sustain consumer demand levels”he added.
Source: National Government
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