For the rest of the fixed-term deposits of the private sector, the guaranteed minimum rate will be 44%.with an Annual Effective Rate of 54.1%.
This means that if tomorrow a person made a fixed term for 30 days of $100,000, at the end of the term he will receive $103,833, that is, the $100,000 that he had deposited at first plus an interest of $3,833.
However, if you decided at the end of that term to make a new fixed term for 30 days with the initial money plus the $3,833 earned in interest, you would obtain $107,813 at the end of the term, that is, the $103,833 deposited at the beginning of the month plus a interest of $3,979.
In case there are no changes in the interest rate during the next year, if before each expiration the person were to make a new fixed term for 30 days with the initial capital and the interest earned, in 12 months he would have $154,100. That is, the $100,000 initially deposited plus interest of $54,100.
Banks also offer pre-cancelable “UVA + 1%” fixed terms, as an investment option at a positive real rate for savers, since they offer a minimum rate of 1% per annum on the interest rate equivalent to the Market Price Index. Consumer who informs the INDEC plus the annual rate of 1%, which allows maintaining the purchasing power of savings and beating inflation by one point, if the contractual term of 90 days is met.
The particularity of this product is that it has the option of pre-cancellation after 30 days, although with an interest rate equivalent to 70% of the TNA given by traditional fixed terms, which would currently be 32.2 %.
The advantage of UVA time deposits is that, in recent months, they not only beat traditional placements, but also also had higher returns than those who chose to buy dollars both through the bank and in the stock market with Dollar MEP or CCL.
Since the beginning of 2022, the official official dollar has risen 9.5% while the MEP has fallen 3.5% and the CCL 5.7%, all percentages lower than the 16.1% that UVA deposits had.
Currently it is mandatory for all banks to offer fixed terms “UVA + 1%” in home banking through all means, either in branches with a physical presence or through electronic platforms.
Source: Ambito
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