After the rise in fixed-term rates applied by the BCRA, savers think about what to invest in. You can earn this by putting $75,000 in Banco Patagonia
By Pilar Wolffelt
03/08/2022 – 8:29 p.m.
Last Thursday, the Central Bank of the Argentine Republic (BCRA) raised the nominal fixed term rate for retailers to 61%, which represented an improvement of 8 percentage points for funds of less than $10 million that are placed in a bank for 30 days.
With a blue dollar that fell in recent days after having touched record values, savers are beginning to see in these instruments an interesting option to put their pesos.
And it is that this rate adjustment was stronger than expected, so yield is slightly closer to inflation than before To help you calculate the exact return you can get, we help you calculate how much you can earn if you put $75,000 in a fixed term at Banco Patagonia.
Putting a fixed term in Banco Patagonia is an interesting option for many savers.
Patagonia bank fixed term: how much do you pay per month
The mentioned new nominal rate of 63% is equivalent to an average monthly yield for a traditional fixed term of 5.1%, therefore, With $75,000, at the end of the first 30 days you will have a profit of $3,825 in your account, so you will accumulate a total of $78,825.
Meanwhile, if you decide to renew the fixed term plus the interest earned for several months, you have to consider the effective annual rate to calculate your earnings, which is 81.3%.
So, if you leave your $75,000 in the fixed term traditional in Patagonia Bank for a year, at the end of that term You will have a total of $135,975 in your account, which is equivalent to a profit of $60,975 in 12 months, an average of $11,331 every 30 days.
Banco Patagonia offers the option of making a fixed term deposit online.
Fixed term Banco Patagonia: how to invest
A key element that you have to know before making your investment is that, Banco Patagonia offers several channel options to make the investment. They are:
- On the one hand, Patagonia e-bank, home banking, which allows you to set up a fixed-term deposit online and without any additional cost or time limits.
The online option is perhaps the most chosen these days and, although it does not have the assistance of a person, it is very simple to use. To set a fixed term through this alternative, you must follow these steps:
- Enter the “Investments” link and, from there, go to the “Fixed Term Registration” option.
- Inside, you must select the type of fixed term (in this traditional case in pesos), the amount to deposit, which would be $75,000 in the case addressed, and the period of time for which you want to make the deposit.
- Once this information is completed, it is required to verify the data and confirm the operation by clicking “Accept”.
- TIt also has the bank’s Investment Center available to userswhich is accessed by calling 0810-999-6655 – option 5 from Monday to Friday from 9 a.m. to 7 p.m.
- And finally, physical branches, which are a more traditional option.