Banco Ciudad Offers Loans Up To $100 Million to Mendoza Public Employees

Banco Ciudad is now offering personal loans of up to $100 million to employees of public organizations in Mendoza, Argentina. The loans are accessible both digitally through the bank’s website and in person at the Mendoza Capital branch located on Catamarca Street 32.

Agreement with the Mendoza Government

The loan program is the result of an agreement between Banco Ciudad and the Mendoza provincial government. Approximately 100,000 public sector employees are eligible to apply, including those working in hospitals, police departments, schools and the judiciary.

Loan Details

Eligible employees can access loans of up to $100 million with a maximum repayment period of 48 months. The funds can be used for a variety of purposes, including debt consolidation and the repayment of existing loans from other institutions.

As an example, a $10 million loan with a fixed annual interest rate of 54% (TNA) would have a monthly payment of approximately $599,451 over 48 months.

Eligibility and Access

Public sector employees in Mendoza who either currently have or initiate to have their salaries deposited with Banco Ciudad are eligible for preferential credit lines with salary withholding options. Those opening a product package with the bank can also access the financing.

Additional Benefits

In addition to the loans, applicants may also be eligible for credit cards with no renewal fees.

Where to Apply

Interested individuals can apply for these loans at the Banco Ciudad branch in Mendoza (Catamarca 32, Mendoza Capital) or online through the bank’s website.

Sources: Los Andes, MDZ Online