How is Now 30, until when do I have time and what are the interest rates

With the objective of encourage local consumption, the state launched a Financing plan known as “Now 30”, although, unlike other times, the current scheme it works differently, so many people wonder how it is.

How does Now 30 work?

Currently, with a minimum reference rate for the fixed term deposits of 75% annual nominal that ends up having an impact on the active rate of the banks, the interest for finance consumer products are excessively high.

In this line, the National State has once again relaunched the “Now” program which is called “Now 30.” The name refers to the fact that, through this, you can make purchases in up to 30 installments. In addition, it includes a freezing of some products What air conditioners for 90 days.

Now 30 works by offering a differential interest rate, that is, that people can perform purchases in installments with much lower interest than if you do it outside of the program, such as through a credit card.

Large chains as well as small and medium businesses participate in this program, as long as they have a physical headquarters.

How much interest does Now 30 have?

As we mentioned earlier, the program Now 30 has a rate of differential interest. Currently, the nominal annual rate of this program is 48% and a financial ceiling of $200,000 per product.

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The Ahora 30 program generated an increase in sales.

Refering to effective annual rate, is 67.06% and the total financial cost rises to 85.57% annually. This percentage, although high, is well below the annual inflation In our country.

For example, in the case of a product of $120,000, 30 installments of approximately $7,994 will be paid. That is, $239,820 at the end of the 30 installment period (2 and a half years).

When is Now 30?

The program Now 30 is currently in effect until December 22 this year, although it will be extendable until the January 19, 2023. For now, the Program is working relatively well, since many merchants increased their sales.

“October was a month in which sales picked up after two months of fall. All the products made in Tierra del Fuego rebounded, but especially air conditioners and televisions,” explained the Association of Argentine Terminal Electronics Factories, better known as AFARTE, to the Télam news agency.

Although there are no final figures, from the association explained that the program Now 30 added to cyber monday They were probably the cause of this increase.

Where can you buy with Now 30?

can be purchased with now 30 in most big box stores and supermarkets, as well as in small and medium-sized businesses. To know if a trade is attached, must show the signaling of the program clearly and visibly.

The Ahora 30 program, added to Cyber ​​Monday and the World Cup in Qatar, increased the sale of televisions

The Ahora 30 program, added to Cyber ​​Monday and the World Cup in Qatar, increased the sale of televisions.

On the other hand, you can also access the Argentina.gob.ar page to find out in detail about the premises adhered to the program, as well as the products that can be purchased. However, in the case of products, general features It is about any television, cell phone, air conditioning, refrigerator or washing machine that is of National Production and its list price equal to or less than $200,000

How does it affect businesses?

Unlike other state-enforced schemes, the Program Now 30 is optional for merchantsthat is, adherence to it is voluntary, although, once a trade joined, must comply with it.

On the other hand, the suppliers or businesses in the operations made through Credit cards may choose to collect within a period of 60 calendar days with a maximum discount rate of 37.79% direct, or within a period of up to ten business days with a maximum discount rate of 41.31% direct, for sales made with the modality 30 installments.

Direct rates are the equivalent of one TNA (nominal annual rate) of 48%, half of what is currently in the traditional financial market. It should be remembered that it will be understood by “Consumer Sales Companies” to businesses that sell final consumer goods reached by the “Plan 30 installments”, and by “Supplier Companies” to the entities supplying the products.

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