Sunday, October 1, 2023

How much can I earn if I invest $1,000,000 in 61 days?

And Term deposit (DAP) It is a savings instrument that allows you to earn interest on the amounts held in the bank.

DAPs are regulated by the central bank and the Financial Markets Commission (CMF)and with these mechanisms there is no risk of loss and the profits (interest) to be achieved are known from the time of investment.

Due to high inflation rates in Chile, fixed-term deposits have become more popular in the last year.

However, the losses are Monetary Policy Rate (MPR) of the central bank have meant that time deposits are currently generating fewer profits than in previous months.

How much can I earn if I invest $1,000,000 in 61 days?

People interested in a DAP can do so on their bank’s website in the Investments section.

In We show you how much money you would earn from an investment $1,000,000 in 61 days as a fixed-term deposit, at various banks operating in Chile:

Bank A

  • Amount to invest: $1,000,000
  • Duration: 61 days
  • Interest rate for the period: 1.61%
  • Interest at maturity: $16,063
  • Total Amount Payable at Maturity: $1,016,063

Banco B

  • Amount to invest: $1,000,000
  • Duration: 61 days
  • Periodic rate: 1.73%
  • Revenue: $17,283
  • Amount to be received: $1,017,283

Banco C

  • Amount to invest: $1,000,000
  • Desired term: 61 days
  • Periodic rate: 1.52%
  • Interests: $15,250
  • Final Amount: $1,015,250

Bank D

  • Amount to invest: $1,000,000
  • Duration in days: 61 days
  • Periodic rate: 1.44%
  • Interest to Earn: $14,437
  • Claim Amount: $1,014,437

In the previous examples you can see that the interest rate for the period varies between 1.5 and 1.7% at most banks. The only difference is with Bank D, which makes a lower profit on the amount to be invested than the competition.

In the case of those who want to simulate winning a Fixed deposit You have the option of entering the amount and term of the investment into the simulator available on your bank’s website.

Nation World News Desk
Nation World News Desk
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