Savers have gained in recent months with the traditional fixed term over inflation. How many pesos are obtained by depositing $150,000 in 30 days
By Mariano Jaimovich
02/08/2023 – 4:08 p.m.
The level of inflation, so far, is located below what the interest rate pays for a traditional fixed term. Thus, savers can find an alternative to face the prices of the economy and protect the purchasing power of their income. In this regard, iProfessional took as a witness case how much can be earned in the Galicia Bank, one of the largest national private entities.
In this case, it was considered a initial deposit of $150,000 to 30 dayswhich is the base time required by the financial system to offer an income of 75% nominal annual rate (TNA) for this type of placement.
In short, a traditional fixed term provides a monthly gain of 6.2%, a percentage that is only offered for amounts less than $10 million made by individuals. It is that for higher figures or deposits made by companies, the interest paid is lower, because it is around 70% of TNA.
Therefore, retail savers who make a monthly constitution will receive a income higher than inflation. At least, if it is compared with the records of the last months. In fact, in November and last December the consumer price index (CPI) was around 5%. Although in January it would have shown an upward trend and was around 6%.
Fixed term and inflation: who wins in the coming months?
In this sense, the inflation estimates for the coming months put analysts under a watchful eye as to whether the traditional fixed term It can continue to be a good investment alternative.
One of the approaches taken into account is that in recent months, the interest rate of 6.2% It was very similar to the increase in the price of the official dollar. So both variables have been in the same tune.
The traditional fixed term offers an income of 6.2% every 30 days, a percentage that has exceeded inflation in recent months.
Regarding the projections for the prices of the economy, reflected in the Survey of Market Expectations (REM), published by the Central Bank this February based on a survey carried out with 40 analysts, the CPI could mark An estimate 5.5% in February and 6% in March.
Meanwhile, the profit of the traditional fixed term can be much higher if one considers the effective annual rate (EAR), which is achieved by renewing every 30 days in a row the initial deposit made together with the interest earned, for a period of 12 months. With this process, an income of 107% per year, which is equivalent to earning a theoretical income of 8.92% on a monthly basis, which is much higher than forecast inflation.
Fixed term Banco Galicia: how much can you earn with $150,000
When doing the calculations to know What is the income that can be obtained if $150,000 is invested in a traditional fixed term in Banco Galicia for a period of 30 days, the results indicate that the total capital that will be achieved in that time will be $159,300.
That is, for placing the amount of the example for only one month an additional $9,300 will be earnedwhich is equivalent to obtaining an income of 6.2% per month (75% per year).
On the side of the steps requested by this entity to establish a traditional fixed termit is required in the first instance to be a client of the Bank Galiciahave an account in pesos and be registered as a user to be able to enter the different electronic channels that the financial institution has, such as the website (home banking) or the app for cell phones and tablets.
Another requirement to make this type of deposit is to make a placement, already symbolic, of more than $100.
If you put $150,000 into a traditional fixed term, after 30 days you will earn about $9,300.
Those savers who prefer to use the online banking To make a traditional fixed term of more than 30 days, the following steps must be taken into account to successfully complete the placement:
- When entering the entity’s home banking, you must go to “start“of the site, and only there go to the tab of “investments“at the option of”term permanent“.
- In this section, you have to select the alternative that shows “traditional in pesos”and there you must click on the “choose amount” button“.
- after it is due indicate the amount of money that you wish to invest (minimum is $100).
- Step followed, you have to “select term“preferred and squeeze”following“.
- After fulfilling that instance, touch the option that says “account credit” and in consequence, “following“.
- It’s recommended verify that the selected data is correct, and there has not been an error in the entry, and after that the operation must be confirmed by press “constitute fixed term”. In short, the traditional fixed term is already established.-
