The Central Bank (BCRA) published the interest rates offered by the main banking entities for fixed-term deposits in pesos for 30 days.
Fixed term, how much do I earn if I invest $500,000?
Scope
Banks increased the yield on fixed terms after the Central Bank’s decision to maintain the monetary policy rate at 40%, which prompted financial entities to improve these investments.
The fixed term is one of the most popular options among Argentines due to its ease and because, until recently, it offered higher returns in pesos compared to the purchase of financial or informal market dollars.
However, the Central Bank’s decision altered the expectations of many Argentines who saw in this investment the opportunity to increase their income, generate an additional salary or even live off the interest, since the rate has fallen more than 100 points since December.
Fixed term: how much do I earn if I invest 500,000?
One of the main doubts that arise when establishing a fixed term It is how much you have to deposit to win a significant sum. In this calculation, the most important thing is to know the amount that one is willing to deposit, knowing that you will not be able to claim it for 30 days and the interest rate of the bank in which the investment is made.
For example, when depositing 500,000 in Banco Nación, The saver will receive within 30 days (minimum placement period) the invested capital plus $16,027.40 in interest, with an APR of 39.00%. In Santander, A fixed term of $500,000 pesos for 30 days in Santander would give $513,973. $13,973 pesos would be the interest earned.
Fixed term: the best rates on the market
Currently, banks adjusted interest rates for fixed terms as follows:
- Comafi Bank: 40.5%
- Macro Bank: 40%
- Banco Galicia: 42%
- Banco Nación: 39%
- Mortgage Bank: 36.50%
- Credicoop Bank: 36.50%
- ICBC: 35.45%
- BBVA Bank: 35.50%
- HSBC: 37%
- City Bank: 35%
- Santander Bank: 34%
Source: Ambito
