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Fixed term: how much money can I invest without being informed to the AFIP

Fixed term: how much money can I invest without being informed to the AFIP

The regulations that apply to all banks take into account a series of variables to send the information to the collecting agency.

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Banks must inform the AFIP (Federal Administration of Public Revenue) the total accumulated amount of fixed-term deposits made by a client each month.

Banks are subject to regulations that require them to report to the AFIP the total sum of deposits made in fixed terms each month, as long as these exceed $400,000. This limit was recently increased from the previous $200,000.

The new limit applies monthly and covers all forms of deposits, including not only fixed terms, but also savings accounts, salary accounts, social security accounts and special accounts.

However, this amount may vary in practice depending on the client’s declared income. The effective limit can be highersince banks frequently They create the profile based on each client’s recorded income.

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The new limit applies monthly and covers all forms of deposits

The new limit applies monthly and covers all forms of deposits

Depositphotos

What is a fixed term

A fixed term It is an option to invest in banks or financial institutions where the user deposits the money they want for a certain period at a fixed interest rate. During this time, known as the “deadline,” the money cannot be withdrawn without incurring penalties. To the final of this time, The investor receives the original amount plus the interest generated.

The Annual Nominal Rate (TNA), for its part, is a reference value which is used for financial operations. Indicates the percentage of interest that will be charged or paid for a product, within a period of one year without intermediate capitalization periods.

Source: Ambito

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