Tuesday, May 30, 2023

A definite limit: if you want to earn 7,000 pesos a month, this is the amount to invest

Added to this context is the recent measure of the Central Bank to increase the interest rates of traditional fixed terms and Leliqs. There was an increase of 3 points, so the nominal annual rate was set at 78%.

It is worth noting that since the saver can only invest $2000 for a certain term with a profit for 30 days, in order to obtain higher profits, constant innovations must be made.

Defined term: what amount to invest to earn $7,000 per month?

If a saver wants to earn $7,000 a month for a fixed term deposit, he needs to invest about $110,000.

fixed term money

Term defined: by recommendation of the Central Bank

From the official website of the Central Bank of the Republic of Argentina, they have published a series of recommendations for all users who want to deposit their money for the first time.

  • Keeping money at home generates no income. The defined term has a marked return (rare interest), it is simple, it is safe and it contributes to the financing of banking customers.
  • Before choosing a bank to set up a fixed term, click on a fixed term rate from Home Banking or from an investment bank, the online media usually offer better interest rates.
  • In general, the longer it is said, the more he is willing to pay in the bank. If it is known that the money will not be needed for a period of more than 30 days, consult the interest rates for several days, 60, 90, 180 and 360 days.
  • Certain conditions, which are taken at a higher rate than the reference rate, and which have had special incentives or compensation in addition to interest, are not guaranteed by the Deposit Guarantee Insurance.
  • In general, the higher the deposit, the higher the interest rate. The minimum amount for a defined term is about $1000.
  • Fixed term operations can be done in pesos or in dollars, and they are certainly different for each.
  • It is advisable to invest in a fixed term, when you are sure that you will not need the money deposited for a certain period, because it will be immovable, and cannot be withdrawn until maturity.
  • The defined terms are compensable in pesos, this increases your security because it allows avoiding the transfer of money from one to another. When presenting a compensable term defined in another entity, the options that can be accessed are: deposit it in another account or establish a new fixed term.
  • Before deciding on a specific period, he should opt for the rate of interest in different entities in order to offer the best rate.
  • Those fixed bills that have a specific modality (eg precancellable, adaptable with CER clause, UVas, etc.) or that are made electronically (by ATM, Home Banking, telephone, etc.) are not compensable, because it is necessary to possess. to present a physical document to the other party.
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