Pensioners have genuine alternatives suggested by ANSES (National Agency for Medicines and Health Products Safety)
Retirees in Argentina have access to various loan options from public banks such as National Bank, Provincial Bank, and City Bank. These loans, designed for flexible use, can range from 5,000 to 2,000,000 pesos with repayment terms of up to 60 months.
To apply for a retiree loan, retirees can start the process by visiting the website or home banking of the banking entity. They should select the option for personal loans for retirees and indicate the desired amount and term of the loan.
City Bank, for example, does not specify any conditions regarding the use of the loan proceeds. This means retirees can use the funds to pay off debts, cover medical expenses, or make improvements to their homes.
Once approved, the money is credited to the account within 24 to 48 business hours. However, it's important to note that the total financial cost of a loan often exceeds 110% annually in the long term, making the interest load significant.
Provincial Bank offers an online simulator that allows retirees to calculate the amount of the installment, the interests, and the minimum income required. On the other hand, National Bank offers loans with accreditation in 48 hours, with amounts ranging from small credits to figures exceeding millions of pesos, and repayment terms of 36 to 72 months. The installment cannot exceed 35% of the net pension of the retiree.
Retirees must confirm their personal data and CUIL during the application process. General requirements for retirees to request a credit include proof of retirement income and a good credit history.
In Argentina, loans specifically for retirees offering up to 10 million pesos with terms up to six years are not clearly listed. However, there are social loans for retirees around 1 million pesos with a term of 60 months at a fixed rate of about 50%.
Specialists recommend resorting to a credit only in case of a concrete need, such as medicines, basic home repairs, or urgent debts. Taking financing for current consumption can seriously compromise the economy of retirees.
It's also worth mentioning that ANSES credits, which many retirees believe are direct financing from the pension agency, no longer exist. The ANSES adjusts AUH in September 2025, and the payment amount will be determined in the future.
Each bank has its particularities, and requirements may vary. Therefore, it's essential to thoroughly research and compare the options before making a decision.
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