After the new rate hike, how much do the fixed terms of 30 days and one year yield?

The increase in monetary policy interest rates set Thursday by the Central Bank (BCRA) went from 60% to 69.5% (up from 52% previously). It went into effect this Friday and will have an immediate impact on term deposits in pesos.to prevent price increases from affecting savers.

How do you translate? In the case of deposits of up to $ 10 million made by human persons, the new guaranteed minimum annual rate (TNA) will be 69.5% – previously 61% – for 30-day deposits, which represents a monthly return of 5.79% and an effective annual return of 96.5%.

For the rest of the fixed-term deposits from the private sector the guaranteed minimum rate will be 61%, which represents an effective annual rate of 81.3%.

This means that if this Friday a person made a fixed term for 30 days of $ 100,000, at the end of the term they will receive $ 105,791, which is the $ 100,000 they had initially deposited. plus interest of $ 5,791.

However, if at the end of that term you decide to make a new fixed term for 30 days with the starting money plus the $ 5,791 earned in interest, he would get $ 111,917 at the end of the termthat is the $ 105,050 deposited at the beginning of the month plus an interest of $ 6,126.

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 you would have $ 196,525. That is the $ 100,000 initially deposited plus interest of $ 96,525.

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:

Either way, the rate that offers a 5.9% rate over a 30 day period, which is why if you invest $ 100,000, you will get it after a month about $ 105,900, which is an interest of $ 5,900.

If, on the other hand, this term is left to 60 days or 90 days, at the end of the period in which the bank can already withdraw, a profit of $ 11,424.66 and $ 17,136.99 respectively.

Fixed terms UVA

Banks also offer fixed pre-cancellation terms “UVA + 1%” as an investment option at a real positive rate for savers. It offers a minimum rate of 1% per annum on the interest rate equivalent to the Consumer Price Index reported by INDEC, which allows you to maintain the purchasing power of savings and beat inflation by one point. if the contractual period of 90 days is respected.

The peculiarity of this product is that You have the option of pre-cancellation after 30 days, albeit with interest rates equal to 85% of the TNA given by traditional fixed terms, which currently would be 59.075%.

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

How to make a fixed-term contract online

To make your Fixed Time Online you must follow these steps:

• Fill out the form with your personal data. It is important to have your DNI handy, as one of the required data is the procedure number that appears on the front or back of the document.
• Enter CBU or Alias. Indicate the account from which you want to debit the amount to prepare this fixed term. Once the term has expired, the saver will receive on his account the amount charged plus accrued interest.
• Before setting the deadline, the entity will show you a simulation of how it will be made, to confirm or change if necessary.
• Finally, the saver must Enter home banking and approve the DEBIN. The entity will send a Debit Money Request (DEBIN).

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