Tuesday, August 16, 2022

Fixed-term Banco Ciudad: If you invest $50,000 in that unit for 30 days you can earn this money

These days it is difficult to decide what to do with pesos and fixed tenure is a very popular option for retail savers. It Pays to Banco Ciudad

By Pilar Wolffelt

22/07/2022 – 17,27hs

In the current context of exchange rate fluctuations, buying dollars becomes unaffordable for many and is an unsecured savings instrument, therefore The traditional fixed term is a less risky savings instrument for many Argentines.

Presently, banks pay the return fixed by the BCRA, which is 53% per annum, with Effective Annual Rate (TEA) of 68%Which was last updated in mid-June.

One of the most chosen institutions by savers to invest in this type of instrument is Banco Ciudad, where many employees and retirees receive their salaries,

Banks pay 53% for the traditional fixed term.

Banks pay 53% for the traditional fixed term.

Fixed Term Banco Ciudad: How Much You Can Make With $50,000

so we help you calculate How much is a traditional fixed deposit of $50,000? in this public bankWhich can be done within 30 days.

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Taking into account, as stated, the currently applicable TNA of 53%, the average monthly return is 4.41%, hence, subsequently Your profit in 30 days would have been $2,208So that At the end of that time, you’ll have a total of $52,208.

as long as The annual effective rate (TEA) is 68%, which equates to a monthly return of 5.7%So, if you decide to renew it month by month, you’ll have accumulated a total of $79,000 in one year.

It is important to mention that the fixed period can be renewed after the initial period prescribed for investing is over, be it for total capital plus interest or even just initial capital.

One of the most chosen channels is mobile banking.

One of the most chosen channels is mobile banking.

Fixed term banco kudad: these are channels and so can you

The pandemic and isolation changed our habits a lot. Thus, while earlier it was common practice to visit the bank for a fixed period, these days, The home banking channel is usually the most chosen By savers to carry out this operation.

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To use the Banco Ciudad tool for making deposits, first enter Home Banking With username and password, which must have been generated earlier.

Next, it is necessary to select the “Investment” option from the menu, enter the “Fixed Term” and click on the “Constitute” button.

Then, you need to specify how many pesos you want to invest—in this case, $50,000—, the time for which the investment is being made and the fixed tenure type chosen.

It is necessary to enter the number of the account from which the amount will be debited and, if you want the investment to be automatically renewed after the initial period is over, you can activate the option “automatic renewal”.

after doing those steps Don’t forget to review the data before clicking the “Confirm” button.

Nation World News Desk
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