The Secretary of Commerce led by Guillermo Hang reported on Thursday a readjustment of the interest rates of the Now 12 program, which at this stage is in force until June 30, and reaffirmed the continuity of the program that includes 30 items of products and services produced and marketed with Argentine work.
“In order to continue promoting the expansion of investment, production and consumption of families, and at the same time establishing harmonization with the rate structure of the system in order to strengthen exchange stability, the rates of the Now 12 program are readjusted”, the Secretariat reported in a statement.
Through Resolution 490/2022, the Ministry of Internal Trade adapted the financial conditions of the Now 12 Program: the Annual Nominal Rate (TNA) for payments in 3, 6 and 12 fixed installments will be 42%, while for 18 and 24 fixed quotas will represent 49%.
In this way, this stage of the program will remain in force until June 30 with the new interest rates.
Internal Trade pointed out that “this adaptation responds to the growth that the Now 12 Program has had and in view of its sustainability in accordance with the recent evolution of the monetary policy rates of the Central Bank of the Argentine Republic (BCRA) and the policy of the National State to promote the harmonization of interest rates”.
The purpose of the initiative is to promote the consumption of nationally produced goods and services, through making purchases with a credit card, in 3, 6, 12, 18 and 24 installments and at a rate lower than the market rate.
The program works seven days a week and all products and services can be purchased online and at participating stores throughout the country, which must display the program’s logo for consumers to know.
Among the most important items included in the program are appliances, appliances, computers, notebooks and tablets; mattresses, furniture, construction materials and tools, bicycles, clothing and footwear.
With 24.9 million purchases, the program registered from January to April of this year operations for $411,677 million pesos with an average ticket of $17,585, and among the best-selling items are clothing, appliances and construction materials.
Source: Ministry of Domestic Trade