After the rate hike, how much is a fixed term of $ 100,000 at 30 days and one year worth today?

Despite in a moment of as much economic crisis as the current one, the Argentine is saving by spending, the more conservative continue to see the bank as a possible investment in an attempt not to lose so much against inflation.

The increase in monetary policy interest rates set this Thursday by the Central Bank (BCRA) – from 52% to 60% – will take effect this Friday and it will have an immediate impact on time deposits in pesosto prevent the increase in prices from affecting savers.

In the case of deposits of up to 10 million pesos made by individuals, the new nominal annual guaranteed minimum rate (TNA) will be 61% – previously 53% – for 30-day deposits which will represent a monthly return of 5.08% and an effective annual return of 81.3%.

For the rest of the private sector fixed-term deposits, the guaranteed minimum rate will be 54%, which will mean an effective annual rate of 69.6%.

So, at current rates, what would be the profit a saver would receive in 30 days if he deposits $ 100,000? If this Friday a person made a fixed term for 30 days that amount at the end of the term will receive $ 105,080, i.e. the $ 100,000 he had initially deposited plus an interest of $ 5,080, about $ 694 more than Thursday.

However, if you decide at the end of that term to make a new fixed term for 30 days with the initial money plus the $ 5,080 earned in interest, you would get $ 110,418 at the end of the term, or $ 105,080 deposited at the beginning of the month plus $ interest. 5,338

In the event that there are no changes in the interest rate in the course of the following year, if before each expiration the subject were to carry out a new fixed term of 30 days with the initial capital and the interest accrued, in 12 months he would have had $ 181,300. That is, it would add about $ 81,300.

Clarin used the online fixed term simulator of entities such as Banco Provincia or BBVA, which have already made the rate change to calculate different amounts and terms:

• What if you deposit $ 10,000 in 30 days: The interest earned will be $ 518.08.

• If that amount were put into a 90-day term, the gain would rise to $ 1,504.11.
• And if I deposit $ 50,000 in 30 days. we would get $ 2,590.41.
• If, on the other hand, it were for 90 days, the amount earned would be $ 7,520.55.

• By increasing the bet further, if the saver deposits $ 100,000 in 30 days, the interest earned will be $ 5,180.82

• If, on the other hand, that $ 100,000 stays for 90 days, the interest earned will increase at $ 15,041.10.

• If current rates were held and the saver left it in the bank for 151 days, the profit would be about $ 25,235.62.

Fixed duration UVA + 1% pre-erasable

Banks also offer pre-cancellable fixed terms “UVA + 1%”, as an investment option with a real positive rate for savers, since they offer a minimum rate of 1% per annum on the interest rate equivalent to the consumer price index reported. from INDEC plus the annual rate of 1%, which allows you to maintain the purchasing power of savings e beat inflation by one point, if the contract duration of 90 days is respected.

The peculiarity of this product is that it has the possibility of 30-day pre-cancellationalbeit with interest rates equal to 85% of the TNA given by traditional fixed terms, which currently would be 51.85%.

It is currently mandatory for all banks to offer “UVA + 1%” in home banking by all means, both in branches with physical presence and through electronic platforms.

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