Almost a month has passed since the Central Bank decided to eliminate the minimum forward rate, i.e. there is no longer a minimum ceiling that banks must respect to pay for freezing pesos in a fixed-term deposit. As soon as the initiative became known, the monthly installment they will pay for that type of investment fell from 9.10% to 6% on average. Therefore, the nominal annual rate (TNA) has gone from 110% base to 70% (even if some institutions offer less and others one point more). How much should we invest, then? have $50,000 interest in a month?
In the first hours in which the rate deregulation became known, the banking institutions paid for a fixed term an annual rate of 75%. The next day, the majority They have already paid 70%. A month later some even lowered it few points and already offer an annual interest of 68% (TNA).
This way, with a TNA of 68% the 30 day fixed term return is 5.66%. If instead the annual rate is 70% (the one offered by most entities), The monthly interest will be 5.83%. And for those who pay 71% of the TNA, that is, the monthly return is 5.92%.
For 72% TNAs, the monthly return is 6%. For rates of 73%, the 30-day interest rate will be 6.08%. And if the annual rate is 74%, the monthly return will be 6.16%.
If the annual nominal rate is 75% or 76%, the performance per month will be 6.25% and 6.33% respectively.
For its part, the Ualá virtual wallet, which offers the possibility of setting fixed terms via Uilo, is the one with the best performance, with a rate of 77%, or a monthly interest of 6.41%.
In any case, whatever the amount chosen, these rates are already well below the inflation rate which was 13.2% in February and that of March (the data will be known next Friday, April 12). It is expected in percentages close to 12%.
With the government saying March inflation will be 10% (though consultants see it closer to 12%) and forecasting April’s figure to be in the single digits, they are already considering a new rate cut for the fourth month of the year. . But for now they are between 68 and 76%.
What rate does each bank pay and how much do you need to deposit to get $50,000 in interest?
BBVA: 68% TNA, or 5.66% at 30 days. To then receive a monthly interest of approximately $50,000 $880,000.
Banco Nación, Santander, Galicia, Province, HSBC, Credicoop, ICBC, City, Banco de Corrientes, Banco Dino: They pay a 70% APR, which is 5.83% monthly interest. Therefore, you will need to block some of them $860,000to get just over $50,000.
Banco Macro, Comafi and Mortgages: The three entities pay a nominal annual rate of 71%, meaning the monthly yield is 5.92%. So, to get anywhere near $50,000 a month, you will need to lock in approximately $850,000.
Banco Bica, CMF and Banco del Sol: These banks have a TNA of 72%, which is why the monthly interest is 6%. That is, to have a return of $50,000, the investor must invest a for a fixed term the sum of $840,000.
Banco Terra del Fuego and BiBank: With an annual rate of 73%, the monthly return amounts to 6.08%. With which block for 30 days approximately 830,000, you will get a value close to $50,000.
Voii Bank: with a TNA of 74% this entity gives monthly interest by 6.16%, It will then be enough to invest for 30 days, a little less $815,000.
Meridiana Bank: with a rate of 75% and a monthly return of 6.25%, for a fixed period to leave the same $50,000, you will have to put a sum under this investment of $805,000.
Regional credit: The rate is 76% (TNA) and the monthly interest rate is 6.33%, so freezing around $790,000 will reach your goal of $50,000 in return.
Ualá is itching on this point: the fixed duration is established through Uilo – financial institution with banking license – from $785,000the interest it gives will be $51,280 per month.
SN
Source: Clarin
