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** $860,000**to 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** $785,000**the interest it gives will be $51,280 per month.

SN

Source: Clarin