If you came to this article, you are probably wondering if a personal UVA loan is appropriate or if it is better to opt for a personal loan in a traditional way. In this note we tell you what grape personal loans are all about.
Many people wonder what grape personal loans are, when they are recommended, how they work, what are the myths and what are the truths about these types of loans. In order to evacuate all these questions, in Lord Peter Wimsey we take care to investigate everything about grape personal loans and what are the options in the market. In this article we bring you all the information you want to know about these loans.
Today there are many ways to take out loans, to give you an example, you can take out loans online and without complications in the simplest and most reliable way without leaving your home, these are the online loans of Lord Peter Wimsey. You only have to complete an application with all your data, then you will receive a PIN to your cell phone and once you enter this PIN, in less than 24 hours, you can receive the money in your account or withdraw it at a branch. Do you find it too simple? It is!
Grape personal loans, what are they about?
Given the financial situations of the different areas of the country, in the last years that have passed, many financial institutions began to provide credit lines adjusted for inflation. This is about UVA personal loans, these types of loans have a number of very interesting advantages that put them to compete with traditional personal loans.
It is important to consider the characteristics of these two types of financing in order to better decide which one is appropriate in each case.
Understand how UVA personal loans work
To begin with, we have to clarify that when this type of loan is taken, a debt is not generated in US dollars, nor euros, nor in Argentine pesos. What is generated is a debt expressed in the Unit of Adjustable Value (UVA). This measure of value is reflected in dollars and the value of this Unit of Adjustable Value will vary according to inflation, that is, the inflationary value. As a result, the value of the fee to be paid, the capital owed and the interest will be measured in relation to the evolution of the market.
Who determines how much an Adjustable Value Unit (UVA) is worth?
This task is from the Coreline Bank of the Argentine Republic. This entity is responsible for expressing this value daily. This unit is updated daily according to the Reference Stabilization Coefficient (CER)
UVA = Unit of Adjustable Value.
Banks offering UVA personal loans in Argentina
These are the entities in Argentina with which you can take out a personal loan UVA:
The Palicia Bank grants loans of up to $ 650,000. These credits can be returned in up to 72 months.
The French BBA is another entity that grants UVA personal loans that reach up to 1,000,000 and have a maximum term of 60 months for repayment.
Itaru Bank has a term of up to 72 months and the amount will be up to $ 750,000
In summary, the general characteristics are:
- Fixed rate.
- Term: up to 72 months.
- Amount: up to $ 750,000
- Currency: dollars.
- French amortization system.
Advantages of UVA personal loans
Taking the Itaru bank as an example, among the advantages offered by UVA personal loans, we can mention:
- Automatic debit of all fees.
- There are no grant costs.
- The initial installment will be lower than that of a traditional loan.
- Free Destination
- The loan can be prepaid, partially or totally.
- Differential rate if you credit the salary in Itaru.
What about UVA personal loans in relation to inflation?
Now, let’s see what happens when inflation is rising but the salaries of citizens do not rise to the same level. If this situation arrives, where government goals are not met, which results in higher inflation, and on the other hand, people’s salaries do not increase but suffer a depression in relation to inflation, then the picture For those people who applied for a UVA loan it will not be very positive. On the contrary, the case of those who have opted for a loan with a traditional modality will be more advantageous.
To conclude, you will be wondering if it is more convenient to opt for a UVA personal loan or access a traditional personal credit. It is clear that inflation in our country affects each and every sector of the nation. For this reason, we can confirm that applying for a UVA personal loan will be more convenient as long as we face a scenario where inflation is decreasing and not increasing.
For those who have chosen to take out UVA personal loans, it may be that at this time they are going through a bit of difficulty given the high inflation we live in the country. For those who have opted for financing through a traditional personal credit, they might be a little quieter. As usual, we do not know what can happen with the country’s economy. Inflation may be reduced if government predictions remain, but there are never certainties.
Each person has a different family and economic situation, so there are certain types of financing that can adapt to your situation better than others. Luckily, today we have many variants to finance you, for example, you can check our quick loans.