Fixed term: how much do banks pay this Saturday?

The fixed term is a vehicle investment which consists of lending money to a bank in exchange for an interest that will be returned at the end of a certain period. Among the main advantages of this way of investing is its simplicity: in a couple of clicks, a saver can already place their pesos in this system.

How much do banks pay the fixed term

According to what was reported by the Central Bank of the Argentine Republic (BCRA), the nominal annual rate (TNA) of the fixed term is currently as follows:

  • Bank of the Argentine Nation: 39%.
  • Banco Santander Rio: 39%.
  • Banco Galicia: 39%.
  • Banco Provincia: 39%.
  • Bank BBVA Argentina: 39%.
  • Macro Bank: 39%.
  • HSBC Bank Argentina: 39%.
  • Credicoop Bank: 39%.
  • ICBC Argentina: 39%.
  • City Bank: 39%.

In all these cases, it is necessary to be a client of the bank in order to access the fixed-term deposit. However, Banco de la Nación Argentina, Banco Provincia, Banco BBVA Argentina, Banco Credicoop and Banco Ciudad allow investment by non-customers.

How to calculate the profit of the fixed term

To calculate the approximate monthly profit of the fixed term just take the interest rate annual (39%) and divide it by the number of months in a year (12), in this way, we will obtain the nominal interest rate that banks pay.

For example, currently, a fixed term of 30 days returns a monthly nominal benefit of 3.25% (39 / 12). This means that $100,000 invested in a 30-day fixed term offer a nominal profit of approximately $3,250.

If the profit is reinvested and a new fixed term, what is known as the effective rate is obtained, which is nothing more than the compound capitalization of this investment.

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