Saturday, March 25, 2023

Fixed term: if you want to earn 5,000 pesos per month, this is the amount to invest

It is worth noting that the saver, with an amount less than $2,000 can make a fixed-term deposit and get a profit after 30 days, if it will be necessary to carry out constant renewals in search of greater profits, this would allow it. economic difference to be obtained 107, 5%.

At the same time, it is important to emphasize that interest rates can vary according to banking entities, so the Central Bank has issued a series of recommendations, in order to determine a specific term.

fixed term money

Defined term: what is the amount to invest to earn $5000 per month?

If the saver aims to achieve a defined term of $5,000 profit per month, he must make the next deposit of $87,000.

Term defined: by recommendation of the Central Bank

From the official website of the Central 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 bank 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 determined that the money will not be needed for 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are sure that you will not need the money deposited for a certain period, because it will be immovable, and cannot be withdrawn until maturity.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 you present a compensable fixed term in another entity, the options that can be accessed are: to deposit it in another account or to establish a new fixed term.
  • Before deciding on a specific time, he will have to choose the best rate offer in the interest rates of different entities.
  • Those terms fixed to a specific modality (eg precancellable, adaptable with CER clause, UVas, etc.) or those made electronically (by ATM, Home Banking, telephone, etc.) are not compensable, because it is necessary to Possess. to present a physical document to something.
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