Cancellable UVA Fixed Terms allow you to withdraw money before 90 days. What are the aspects one should know before choosing them?
loss Fixed Installments UVA. especially, Chances are it grants to “pre-cance it” in case of need of funds ahead of time, Despite the attractiveness of this investment at the moment, there are some central points to consider that could change the equation.
Inflation in July reached around 7.5 percent And in August, for many analysts, it could reach almost 6%, which is why in recent months it has exceeded the yield offered by traditional fixed terms, which is 5% per month. Therefore, the UVA version becomes an attractive option for savers.
Based on the latest forecasts prepared by the participants in the Market Expectations Survey (REM), it is calculated that Between the coming July and the end of December, the Consumer Price Index (CPI) is likely to rise by 33%., A level that doubles the benefit that would be provided by the terms set by UVA for the final months of the year, and is above the roughly 27% that a traditional placement would provide over the same period.
“An alternative to the development of the CPI is UVA, which mimics an advance in the normal level of prices with a delay of 45 days. In other words, small investors with additional pesos who are not choosing to spend on consumption, They can channel them to one’s constitution Fixed tenure set out in UVA, which can be an option that preserves the value of your savings”, Firm iProfessional andres mendezDirector of AMF Economy.
One piece of information that all savers who want to keep their pesos in a UVA fixed term should keep in mind that it is required to Minimum reserve of your funds for 90 days to be able to withdraw your money, As a result of this long period the peso is requested to stabilize, there is a “Pre-cancellable UVA” option.
Of course, there are a few points to this option to pre-cancel placements that To be taken into account before turning to this means financial.
The pre-cancellable UVA fixed period allows you to withdraw money before 90 days, but it has some limitations.
1. Pre-cancellable Fixed Period: Minimum Time for Depositing Peso
even though he Pre-cancellable UVA fixed term allows you to withdraw money before the stipulated 90 days In normal UVA option, one detail that every saver should know is that they will not be able to go back and withdraw their pesos whenever they want. lease, you still have to wait a specific period to get your cash.
that is, Investors who are in urgent need of cash and want to trigger their UVA fixed-term cancellation option will still need to wait at least 30 days to be able to exercise their right.
Lastly, whichever option is chosen, the mandatory reserve period for the deposited money is one month. Only after this period has passed, and until the 89th day after its formation, you will be able to use the possibility of pre-cancellation.
2. Cancel UVA Fixed Term, Pay Less
Another fact to keep in mind while creating a pre-cancellable UVA fixed term is that if the money is withdrawn before the stipulated 90 days, at least, for this instrument, There will be no return commensurate with inflation.
it means that The saver who activates the pre-cancellation clause, and withdraws his money between 30 and 89 days after making his appointment, will receive a special interest rate determined by the Central Bank,
The same is currently 56% per annum, which equates to 4.66% per month. A level that is less than the 61% nominal annual rate (TNA) offered by the traditional fixed term.
In short, the saver who leaves the UVA before a certain period has less benefit in the form of a “penalty.”