Do you want to take care of the value of your pesos from inflation and you don’t know what to do? We at ICBC help you think by computing a fixed term return
By Pilar Wolffelt
22/08/2022 – 16,42hs
central bank This month, traditional fixed-term rates rose radically, as it was the highest in force so far this year With an adjustment that took them from 61% to 69.5%. It is an investment option for the retail saver that is more attractive these days than it was a few weeks ago. And that is, with inflation projected for the year that could be between 90% and 95%, the guaranteed annual effective rate is 96.6%, which is an interesting index.
With dollar volatility this year, fixed periods, thanks to the fact that the Central Bank (BCRA) has been increasing month by month since early 2022, is an attractive investment. This year for many savers, or at least an option to evaluate when thinking about where to put their pesos.
all Banks in Argentina offer this savings tool And Banco ICBC is one of the unifying institutions ranking 10 most chosen to do it among savers. Many SMEs have accounts in that unit and they pay salaries of their employees there. Therefore, We help you calculate a fixed-term return of $125,000 over 30 days in that unit,
ICBC Bank Fixed Tenure: $125,000 in 30 Days How Much You Earn
Taking into account the BCRA regulated rate for all financial institutions, the monthly earnings for the period set by ICBC Bank are 5.79%, up from 69.5% per annum today.
Thus, in a month, it will be possible to get a edge of $7.237 Starting from $125,000 capital, therefore, after 30 days you will have $132.237.
Keeping the peso in a fixed period is more interesting today than it was a few months ago.
whereas, If the fixed tenure is renewed every 30 days for 12 months in Banco ICBC, the yield should be estimated on the basis of Annual Effective Rate (TEA) of 96.6%.
It should be remembered that TEA is calculated taking into account the monthly performance of the product. So, if you have a fixed-term starting capital and monthly income for one year, at the end of that period, with the current rate, you’ll have a total of $245,750, which is almost double the starting capital of $125,000.
How to Form a Fixed Term in ICBC Bank
Digital is the most commonly used tool by savers to invest their money in the traditional 30-day fixed period at Banco ICBC In these days. To manage it, it can be tracked and renewed automatically from ICBC Access Banking and ICBC Mobile Banking.
These tools allow you to choose the amount, The term that is most convenient for you and you can invest up to $1,000 from your account for a minimum period of 30 days.
To do this, you need to enter the “Invest” option. Select “New Fixed Period”. You must select the type of fixed term and then complete the boxes according to the amount of investment you wish to invest (Amount, in this case $125,000 plus the duration) and indicate the Debit account and Payment account.
Another option is to make a fixed term through the institution’s investment telephone center. There, you’ll get the help you need if you don’t have much experience with digital devices.