If it is the first time you do a fixed deposit you probably wonder “which is the Minimum what can i put in it fixed term?” and even “what is the traditional fixed term“, so from iProfessional we will answer these and other questions for you.
How much is the minimum that I can put in a fixed term?
He Minimum which can be placed at term varies by bank, though, Usually it is between $500 and $1,500.depending on the chosen channel.
For example, in the case of the National Bank, the minimum is $500 if done through homebanking, while the fixed-term placements in a branch they raise the amount to $1,500.
What is the traditional fixed term?
He traditional fixed term is a type of operation in which they freeze the funds for periods ranging from 30 days to 365 days a year. In addition, what characterizes this type of placement is that they cannot be canceled until their expiration date.
How much do I earn if I invest 10,000 in a fixed term?
To answer this question, one must compare with the inflation and the devaluation. If we take the rate of fixed deposit nominally, for a 30-day placement of $10,000 you will obtain $10,650, of which $10,000 corresponds to the capital original and $650 to interests.
In the case of placing that money for 30 days and renewing it for 12 months, assuming that the interest rate does not change, you would get $21,300 of which $10,000 correspond to the original principal and $11,300 of interest. This is because the effective annual interest rate is 113%.
In order to obtain real profitability, inflation for the period must be discounted.
However, to say that we got $11,300 of Profits It is false, since in between there was inflation and devaluation. In the case of the inflation, according to the expectations of Central Bank of the Argentine Republic, It will be located around 100% per year, so if it were to come true, you would not have obtained such a significant profit, since it would only be 13%, so you would have obtained a profit of $1,300.
That is, if you bought 100 products, with the interest earned, you will be able to buy, on average, 113 products. In the case of taking devaluation as a reference, many discussions arise about what exchange rate take as a reference.
First is the official dollar which is the one that governs the imports y exports. Although some people take it as a relevant type of change, the reality is that this exchange rate It is far from reality for various reasons, including the almost null access to it by a citizen or company.
In second place are the exchange rates “savings”, “tourist” and “Qatar” that take as reference the official exchange rate plus 65%, 75% and 100%, depending on which is taken as a parameter. However, they are exchange rates with certain restrictions and these could be extended.
Third, there is the parallel exchange rate o blue that, although it is an exchange rate that people usually take as a reference, it is a fairly small market and, therefore, very manipulable. In addition, it is an “illegal” exchange rate, so there are restrictions for certain operations.
Finally we meet the financial exchange rates that meet several characteristics to be taken as a reference, such as being a legal exchange rate, without restrictions and, in many cases, the determinant of prices. Besides, mep dollar It is the one that many people access, for example, to save to buy a property.
The “tourist” exchange rate takes as reference the value of the official dollar plus 75% of taxes and perceptions.
whatever the exchange rate that we take as a reference, should be compared with the bowl of the fixed term at the end of the year to find out if we made a profit in hard currency or if, on the contrary, we lost money.
How much do you earn in a fixed term of 30 days?
And traditional fixed term to 30 days grants a yield of 6.5% per month. In this way, if you put $100,000 during that period you would get $106,500, of which $100,000 would be the original principal and $6,500 the interest earned.
