After the inflation data, the BCRA raised the fixed-term rate. To find out how much you earn now, we calculate the yield of $150,000 at Banco Patagonia
By Pilar Wolffelt
09/20/2022 – 10:30 p.m.
Last week, after knowing the inflation data for August, which was 7%, the Central Bank of the Argentine Republic (BCRA) raised the performance of the traditional fixed term by 550 points to 75%. This rate adjustment was in line with what was expected by the market and brought the monthly yield of the fixed term to 6.25%
That level of profit offered by the fixed term today is below the inflation of August, but in line with the expectation that, in the coming months, the price index will begin to fall by around 6%.
This data brought a little closer the return of this savings instrument in pesos to inflation than before But, the small saver needs concrete tools to know how much he can earn with his fixed-term pesos in a month and in a year. That will allow him to make projections and make a decision according to his economic objectives.
The first thing you should know is that all banks have this alternative available and one of the most chosen by savers to put a fixed term is Banco Patagonia. Therefore, to help you make decisions, at iProfesional, we calculate how much you can earn with the new rate of the BCRA with $150,000 in a fixed term in that entity.
Fixed term at Banco Patagonia: this is how it performs today
As indicated, with the new nominal rate of 75%, the monthly yield guaranteed by Banco Patagonia is 6.25%, therefore, If a person puts $150,000 in a 30-day fixed term, at the end of that period they will have $9,375 more in their account.which results in a total of $159,375 at the end of the month.
Meanwhile, if the saver decides to renew the investment plus the profit month by month for a year, he must take the Annual Effective Rate (TEA) as a reference index. And, in that case, the current percentage is 107% and, at the end of the year, the return will have been $160,500 and the money accumulated in the destination account will be $310,500 in total.
Banco Patagonia offers users many alternatives to operate.
Fixed term Banco Patagonia: how to put the pesos
Before making the decision to put a fixed term in Banco Patagonia, it is essential to know that this entity offers several channel options to make the investment.
On the one hand, you can make the fixed term through Patagonia e-bankthe digital channel that allows you to make a 30-day deposit online and without any additional cost or time limits.
Another possibility is to do it through the physical bank brancheswhich are a more traditional option.
And finally, offers users the Banco Patagonia Investment Center channel, which is accessed by calling 0810-999-6655, option 5, Monday through Friday from 9 a.m. to 7 p.m.
The online option is one of the most chosen options these days and to set a fixed term through that channel you have to follow these steps:
- Enter the “Investments” link and, from there, go to the “Fixed Term Registration” option.
- You must select the type of traditional fixed term in pesos, the amount to deposit ($150,000 in the case addressed) and the period of time for which you want to make the deposit.
- Once these data have been completed, you must verify the information and click on “Accept”.