Infonavit reduces its interest rate on home improvement loans

After the third funding auction of the financing line for the product Improvement, focused on home improvement, the Institute of the National Housing Fund for Workers (Infonavit) announced a reduction in the interest rate of this loan, which will be 13.1%, that is, the lowest that has been had in the history of said product.

The Infonavit reported since mid-2011, when the Improvement At a rate of 18%, this product has had reductions over time, so in this third auction it reached its lowest level, with the allocation of resources to four banking institutions that will be able to grant this financing to the persons entitled to organism.

“Since last July 16, 2021, people who request financing of this type will begin to see the benefits of the new financing conditions reflected in their pockets. Improvement, among which the reduction of the Total Annual Cost (CAT) from 18.4% to 13.9%, ”the State mortgage company reported in a statement.

In addition, the agency stated that the minimum amount of the loan increased to 4,631 pesos and the maximum to 129,138 pesos, according to the payment capacity of the rightholder interested in this product.

The Infonavit He explained that the third auction was held on June 23, with five institutions with different positions; However, the final allocation of these resources for the product financing line Improvement was awarded to See For More Bank, CI Banco, Monex Bank Y Bancoppel, for an amount of 4,500 million pesos.

Improvement It is a loan that supports workers with the remodeling, repair or improvement of their home. The resources can be used to make minor improvements such as painting, waterproofing, changing bathroom furniture, making adjustments to meet the needs of people with disabilities or buying eco-technologies, “the Institute said.

According to him InfonavitTo process this credit, the beneficiaries must meet the following requirements:

  • Have an active employment relationship at the time of requesting financing.
  • Prequalify.
  • Have a savings balance in the housing subaccount of at least 5,128 pesos.
  • Have at least four months’ seniority in the company where they work.
  • Not having other support from the body in progress.

“Once the requirements are covered, it is only necessary to enter My Infonavit Account (micuenta.infonavit.org.mx) and click on the “I am interested in a loan” section, he added.

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