In Argentina, a peer-to-peer loan is a mutuo contract governed by the Civil and Commercial Code: it should be written, ideally with a certified date, paid by traceable transfer and justifiable before ARCA, the national tax administration.
The mutuo contract in Argentina's Civil and Commercial Code
Since 2015, the Código Civil y Comercial de la Nación has governed money loans under the name mutuo. The code presumes this contract to carry interest unless agreed otherwise: without a written clause stating it is free, the lender may claim interest from the borrower.
No numerical usury cap, but judges can cut interest
Argentina publishes no ceiling comparable to the French usury rate. Article 771 of the Civil and Commercial Code nevertheless allows a judge to reduce interest that is disproportionate to the average cost of money for similar transactions.
Lending in pesos or dollars amid inflation
With historically high inflation, many Argentine families prefer to lend in dollars or to index the debt. A badly drafted currency clause still causes disputes: the contract must specify the currency, the conversion method and the place where payment is made.
Certified date and certification by an escribano
A document signed between relatives proves its date poorly against third parties. Having the signatures certified by an escribano, the Argentine notary, gives the document a certain date; our page on the notary's role in a private loan explains this logic.
What ARCA may ask about a family loan
ARCA, which replaced AFIP at the end of 2024, can treat unexplained loaned funds as unjustified enrichment. Case law from the Tribunal Fiscal requires proof of the lender's solvency, of the transfer, of how the money was used and of actual repayments.
Income tax on interest and the provincial stamp duty
Interest received by a private lender is in principle subject to income tax, the impuesto a las ganancias. Each province also applies its own impuesto de sellos to contracts with consideration, with rates and exemptions to check with a contador, the local accountant.
CNV-regulated crowdfunding and BCRA-registered fintechs
Law 27.349 of 2017 gave the Comisión Nacional de Valores responsibility for approving crowdfunding platforms, which focus on business projects. Fintechs lending to households appear instead in a register of non-financial credit providers kept by the BCRA, the central bank.
Mutuales and cooperatives, a long-standing alternative
Across the country, mutuales and cooperatives supervised by INAES grant ayuda económica to their members, often repaid through payroll deductions. Before joining, check the entity's registration number, the total cost of the help and the conditions for leaving.
Hijacked WhatsApp accounts and fake lenders on Facebook
A common fraud in Argentina involves hacking a WhatsApp account and then asking contacts for an urgent loan. Other scammers post no-strings credit offers and demand fees before any payout, as described in our report on fake private lenders.
Reporting a scam: bank, fiscalía, BCRA
The BCRA advises first sending a written complaint to your bank or virtual wallet, then reporting to the police or the prosecutor's office, including the specialist UFECI unit. Without a satisfactory reply after ten working days, the BCRA complaint form can be used.
Checking a borrower's financial standing
The BCRA Central de Deudores lets anyone check a person's banking position free of charge using their CUIT or CUIL tax number. This check does not replace proof of income, but it reveals arrears already reported by the banks.
Local situations: the capital, provinces and major cities
The rules are national, but stamp duty, the escribano associations and consumer offices depend on each province. See our dedicated pages on Buenos Aires and Córdoba for the contacts specific to those jurisdictions and their local practices.
Steps to formalise a private loan in Argentina
- Set out in writing the amount, currency, rate, term and schedule, expressly referring to the mutuo contract of the Civil and Commercial Code.
- Have an escribano certify the signatures when the sum is large, to obtain a certain date enforceable against third parties and ARCA.
- Check the CUIT or CUIL of each party and consult the BCRA Central de Deudores before lending.
- Transfer the funds only to a CBU or CVU account in the borrower's name, never in undocumented cash.
- Ask the provincial tax agency which impuesto de sellos applies to the signed contract.
- Keep every repayment statement and have the lender declare interest received with help from a contador.
Indicative costs of a peer-to-peer loan in Argentine pesos
| Item | Order of magnitude (ARS) | Note |
|---|---|---|
| Interest between individuals | Free to agree, indicative depending on inflation | Can be reduced by a judge if disproportionate (Article 771) |
| Provincial impuesto de sellos | Percentage varies by province | Rates and exemptions to check with the provincial tax agency |
| Signature certification by an escribano | Fees set by each association, indicative | Gives the contract a certain date |
| Tax on interest received | According to the impuesto a las ganancias scale | Declared by the lender to ARCA |
| Fees demanded by a fake lender | Total loss of the sums paid | No serious lender asks for advance payment |
Argentine documents to prepare for a mutuo
- DNI of each party and CUIT or CUIL number
- Signed mutuo contract, ideally with certified signatures
- Evidence of the lender's income or solvency
- CBU or CVU in the borrower's name
- Bank proof of the initial transfer
- Dated and signed repayment schedule
- Receipts or statements for each repayment
Frequent mistakes and fraud signals in Argentina
- Handing over dollars in cash with no receipt or contract, which makes the debt impossible to prove and exposes the lender to tax reassessment.
- Paying processing, insurance or release fees to a lender found on Facebook or Instagram before receiving any money.
- Answering a WhatsApp message from a relative asking for an urgent loan without calling them on another channel to confirm.
- Signing a dollar contract without specifying which exchange rate applies if repayment is made in pesos.
- Trusting a credit company missing from the BCRA register or a platform not approved by the CNV.
Questions about private loans in Argentina
Is a loan between relatives in Argentina interest-free by default?
No. The Civil and Commercial Code presumes a mutuo carries interest unless agreed otherwise. If you want an interest-free loan, write this clearly into the contract, also setting out the consequences of late repayment, then have it reviewed by a lawyer or an escribano.
Is there a legal maximum rate for an Argentine private loan?
No numerical cap is set for individuals. In a dispute, however, a judge can reduce interest considered excessive under Article 771. A rate far above current bank rates therefore remains legally fragile and may not survive a court challenge.
Does a family loan have to be declared to ARCA?
There is no single form comparable to the French formulaire 2062 (the French tax form for declaring loans), but the borrower must be able to justify where the funds came from and the lender must declare interest. A dated contract, bank transfers and a contador's advice limit the risk of reassessment.
Where do you file a complaint after a loan scam in Argentina?
Report it to the police or the prosecutor's office, including UFECI for cybercrime, and send a written complaint to your bank. The BCRA then handles unresolved complaints, after which the National Directorate for Consumer Protection can step in.