One day after knowing the data on inflation, which was 6.6% in February, the Central Bank again touched the reference interest rate, raising it by 3 percentage points: it went from 75% to 78% annually. This translates into an improvement in the monthly payment that banks pay to small savers if they invest on a fixed-term basis.
In times of high inflation, investors try to protect their pesos and the most cautious see in the fixed term a good way to compensate – or at least reduce losses – the continuous price increases without risking too much. Also, this is one of the alternatives where you can put money to work in short periods: 30, 60 or 90 days.
With the annual increase of those three percentage points decided yesterday by the BCRA, the traditional fixed conditions up to 10 million dollars will go from yielding 6.25% to 6.5% per month for 30-day maturity deposits; while the annual percentage rate of charge (TEA) of a fixed term of these characteristics will be almost 113%.
Another decision that favors the common saver is that, in turn, the institution has not touched the interest rate that banks charge for credit card debts.
How much do I need to deposit to earn $50,000 in 30 days
According to the simulators of the BBVA and Provincial banks, a saver must invest about $755,000 to make a profit of just over $50,000 in 30 days, or about US$2,000 if the free estimate is taken.
If the same money is deposited in the 60-day fixed term, the profit will be $96,805.48, or you will receive approximately $851,805.48. If instead you invest for 90 days you will earn about $145,000, i.e. the initial value will amount to $900,208.22.
If that initial $755,000 are reinvested with accrued interest each month, after 5 months the investor will have reached the $1,000,000.
If the small saver does not have much to invest, he can deposit a smaller amount. The minimum to deposit is $1,000.
If instead of $755,000, one deposits an initial amount of $100,000 to 30 days in any public or private bank, the initial gain will be $6,624.66. If that money is left within 60 days, the accrued interest will be equal to $12,821.92. If that $100,000 is left on deposit for 90 daysthe value will be $19,232.88.
If, however, after the first month, you withdraw that $100,000 plus interest of $6,624.66 and roll over for 30 days, your invested amount will be $113,687.47 at the end of the term.
If yesIf you only have $10,000 to deposit, your 30-day return will be approximately $662.47. At the end of the period, the customer will have approximately $10,662.47.
If that initial $10,000 is reinvested with interest accrued over twelve months, the total annual profit will amount to $20,000provided that the same rate is maintained throughout the period.
The last time the BCRA raised its monetary policy rate was at mid-Septemberwhen it ordered a 750 basis point increase in the performance of its remuneration liabilities, which was approved 69.5% to 75% annually, a level that defines the remuneration of time deposits, interest rates for loans and other financing costs in pesos.
In total, the Central Bank has implemented four interest rate hikes since July 2022: 800 points on July 28, from 52 to 60% annually; 950 points on August 11, up to 69.5% annually; 550 points on September 15, 75% per annum; and 300 points now, at 78% annually.
NS
Source: Clarin
