Although traditional fixed-term deposits have seen a decline in their attractiveness compared to last year, the recent rise in interest rates has made them re-emerge in the investor spectrum.
Fixed-term deposits have lost some of their appeal compared to 2023. However, with the recent slowdown in inflation, This financial instrument is beginning to regain its attractiveness for investorsGiven this scenario, one of the most frequently asked questions is how much can be earned by investing $100,000 on a fixed-term deposit for 30 days.
In August, interest rates for fixed terms increased and Banks now offer more competitive returns for 30-day peso deposits. Thus, in recent times, the yield offered to savers for their deposits is very close to 35% nominal annual rate, 5 percentage points below the Central Bank’s (BCRA) monetary policy index, which is 40% today.
Current interest rates by bank
These are the interest that banks pay for fixed-term deposits (annual nominal rate):
- BBVA Bank: 34.25% per year.
- City Bank: 34% annually.
- Provincial Bank: 35% annually.
- Banco Galicia: 35% per year.
- Nation Bank: 36% annually.
- HSBC Bank: 33% per year.
- Patagonia Bank: 29% annually.
- Banco Santander: 33% annually.
- Mortgage Bank: 35% per year.
How much do I earn if I invest $100,000 in a fixed term?
With this data as a reference, the profit that can be obtained from different investments of $100,000 in Banco Nación is as follows:
- Fixed term of 30 days: If $100,000 is invested, $30,410.96 is obtained in interest, so at the end of that period, the saver would have about $130,410..
However, if the terms are longer, and the amounts as well, the yield could be as follows:
- 60-day fixed term: with a deposit of $800,000, the interest generated would be $62,465.75.
- 90-day fixed term: with $800,000, you would earn $96,164.38 in interest.
savings fixed term finances investments interest rates
Depositphotos
Simulation for a deposit of $2,400,000
If you decide invest $2,400,000 in a fixed-term deposit with an annual rate of 36%such as the one offered by Banco Nación, The profit in 30 days would be $71,013.70It is essential to keep in mind that the amount invested will not be available during the fixed-term period, so it is key to consider both the capital to be immobilized and the rate offered by the bank when making an investment decision.
Source: Ambito
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