Traditional fixed terms offer a new interest rate for a few days. How much can be earned in 30 days by placing 80,000 pesos
By Mariano Jaimovich
01/08/2022 – 7:17 p.m.
The increases in interest rates at the end of last month, generates that savers have a calculator in hand to know how much they can increase their money with traditional fixed terms. Thus, users who have an account in Santander Bank they have the alternative of earning extra pesos with their deposits.
In this way, through a 30-day placement in this institution, iProfesional calculated the profit obtained by setting up a traditional fixed term for an amount of $80,000.
As a point to keep in mind, At the end of July, the Central Bank raised the nominal annual interest rate (TNA) paid by the financial system from 53% to 61% per year, that is, about 8 percentage points.
The measurement was taken by strong increase in inflation during the past month, after the escalation that the free dollar had, and because the previous months the floor that marked the prices of the economy was 5% per month.
Specifically, different private analysts are estimating that in July there was an inflation close to 8%. While the official data from the Indec had already indicated that in June it was 5.3% and in May it was 5.1%.
The traditional fixed term allows now to obtain a monthly interest rate of 5.08%.
Income from fixed terms against inflation
In conclusion, the monthly rate offered by a fixed term is now 5.08%a figure that equates to the rise in prices in the economy in the periods prior to July.
And in the event that the saver seeks to renew his fixed term every month using the initial capital placed plus the interest obtained every 30 days, and repeats this operation for 12 months, the Annual Effective Rate (TEA) that you will receive now is 81.3%.
A percentage that represents a 6.78% monthly rent. An interest that becomes interesting based on the inflation records of the previous months, but that opens a question mark regarding the performance of prices in the coming months.
Banco Santander fixed term: how much can you earn with $80,000
When it comes to numbers The saver who wishes to make a 30-day fixed term with an initial amount of $80,000 at Banco Santander, has to know that he will earn a total capital of $84,064 after waiting the whole month..
In other words, with this instrument and the money mentioned in the example, a monthly rent equivalent to $4,064.
By placing $80,000 in a 30-day fixed term at Banco Santander, more than $84,000 will be obtained after that period.
To constitute a traditional Fixed Term, savers can opt for the electronic channels of Santander Bank, through the website (home banking) or the app, where you will be asked to make a minimum investment from $500 onwards.
According to the banking firm, the minimum term in which the placement can be made is 30 days and the maximum possible is 913 days.
As for customers who use banking startupor the Santander Bank application, and want to set up a traditional fixed term, they must perform the following steps:
- When entering the selected platform, you must first go to the “Home”, and then on “investments” click on the “fixed term” option.
- Next, you must enter the option “constitute a fixed term”and place the amount of the “amount” to invest and also the desired days for the “term”, which must be greater than 30 days, in the corresponding items.
- After completing those fields, select “Continue“.
- Finally, all the data of the investment to be made appears, and you only have to press “make up” to finish the process. Ready, you already made your fixed term.