Now 12 is renewed: which new item can be purchased in fixed installments and at what rates

As expected, the Government has finally extended from this Friday 1 July, until 31 January 2023, the “Hour 12” program which finances purchases in fixed installments with credit cards on 3, 6, 12, 18 and up to 24 includes , which is incorporated and at what rates it is funded.

There are two novelties. On the one hand, interest rates were adjusted upwards to bring them into line with the ranges established by the Central Bank with respect to the reference rate. And anticipating the proximity of the winter holidays, a new item has been added: that of national cultural events.

On the latter point, the resolution warns that it aims at theatrical performances and concerts by national artists, limited to $ 20,000.

With resolution 490/2022 the Secretariat has set the Annual Nominal Rate (TNA) for payments in 3, 6 and 12 fixed installments will be 42%, while for 18 and 24 fixed installments it will represent 49%.

They also specified that new payment facilities will be added, the details of which will be officially released this Friday. During the first half of this year, Now 12 have registered 32 million transactions.

The program works seven days a week and all products and services They can be purchased online and at participating stores. from all over the country, who must display the logo of the consumer awareness program.

Among the most important items included in the program that was born in September 2014, during the government of Cristina Kirchner, there are appliances, appliances, computers, notebooks and tablets, mattresses, furniture, construction materials and tools, bicycles, clothing and footwear.

Hour 12: what changes

The internal trade secretary, led by Guillermo Hang, has renewed the maximum discount rates that banks can apply to businesses and the maximum interest limits that businesses can charge consumers for each ongoing financing plan included in the Now 12 program. The official status came through resolution 490/2022 published last Tuesday in the Official Gazette.

The maximum interest they can charge on the cash price is:

• 5.39% for 3 installments
• 10.82% for 6 installments
• 22.22% for 12 installments
• 40.53% for 18 installments
• 55.85% for 24 installments.

For internal trade, “This adaptation responds to the growth that the Now 12 Program has hadand in consideration of its sustainability in relation to 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 aim at harmonizing interest rates “.

In this way, the Government has extended the validity of the program – as the companies had requested – first launched in 2014 and currently encompasses 30 product and service categories. Although the cost of prorating purchases with Now 12 becomes more expensive, the new rates they are still below market prices.

“With 24.9 million purchases, the program recorded operations for $ 411.677 million pesos from January to April this year with an average ticket of $ 17,585. Among the best-selling items are clothing, appliances and building materials. “, underlined the secretariat days ago.

What items can be acquired with Now 12

• white line: air conditioners, air conditioners and / or ventilation, dishwashers, washing machines and dryers, cookers, ovens and stoves, stoves and stoves, hot water tanks and water heaters, refrigerators, freezers and freezers.

• To dress: clothing for men, women and children (includes workwear, sportswear, everyday wear and all kinds of clothing accessories), as well as jewelry and watches.

• Footwear and Leather Goods: sports and non-sports shoes, wallets, suitcases, bags and leather goods in leather and other materials.

• Materials and tools for construction: sand, cement, lime, gypsum, bricks, iron, sheet metal, openings, wood, ceramic, toilets, pipes, pipes and their connectors, taps, membranes, tiles, paint, glass, hardware, wooden floors, tanks, joints, joints, pins and work tools.

• Furniture: home furnishings.

• Bikes: including electrical ones, their parts and / or pieces.

• motorcycles: includes all those whose final price does not exceed THREE HUNDRED FIFTY THOUSAND WEIGHT ($ 350,000).

• Tourism: includes the following services and / or products to be provided entirely within the National Territory. That is, long-distance bus tickets, airline tickets, hotels and other accommodation facilities authorized by the competent provincial body, tourist packages purchased through authorized travel agencies, car rentals, excursions and recreational activities, regional products.

• Mattresses: includes mattresses and springs.

• Books: includes textbooks and school books.

• Glasses and contact lenses: Eyeglasses and contact lenses, purchased from opticians, the final price of which does not exceed TWENTY-SEVEN THOUSAND WEIGHT ($ 27,000).

• Library elements: school library items (notebooks, stationery, pencils, pens, backpacks, cartridge cases, labels, among others).

• Toys and board games: includes all products.

• Technical Services of Electronics and Household Appliances.

• tiresaccessories, conversion kits for CNG vehicles and spare parts for cars and motorcycles.

• Musical instruments.

• Computer, Notebook and Tablet.

• Lighting equipment, including electric lighting equipment with LED (light emitting diode) technology.

• TV and monitor.

• Perfumery: cosmetics, personal care and perfumes.

• Small appliances.

• Sports preparation services, including gyms.

• Medical equipment, instruments detailed below: respiratory therapy equipment (oxygen therapy devices, aerosol therapy devices – nebulizers -); Furniture (orthopedic beds, Bath aids: bath chairs, transfer chairs, grab bars); Wheelchair; Orthoses, orthopedics and their parts (Prostheses for amputees, customized shells, customized orthoses, insoles, customized corsets, walkers, canes, crutches). There is a limit of TWO HUNDRED THOUSAND WEIGHT ($ 200,000) for the item.

• Machines and tools: drills, angle grinders, sanders, polishers, saws, stick welders, TIG system welders, MIG-MAG system welders and vices.

• Personal Care Services: hairdressers and beauty salons.

• Event and trade fair organization services Commercial. Includes catering and photography.

• Repair services of motor vehicles and motorcycles.

• Alarm installation services.

• Thermal baths.

• Kit for domestic connection to public water and sewage services.

• durable kitchen items. pots, pans, pans and grills, all in aluminum.

• funeral services. coffin, funeral service, burial, transfer within the national territory.

• Shows and cultural events. It includes plays and concerts by national artists and a limit of TWENTY THOUSAND PESOS ($ 20,000) is set.

• Educational services: language courses, computer courses, sporting and cultural activities. It does not include schools or universities.

YN