The latest increases in interest rates of traditional fixed terms up to 69.5% per year, made them more attractive. How much is earned in a month with $120,000
By Mariano Jaimovich
08/25/2022 – 3:51 p.m.
The high interest rates paid by traditional fixed terms are seducing saversbecause they offer an attractive income, beyond that they should also keep an eye on the tension that the price of the free dollar has and the upward trend of inflation. Under this premise, iProfesional took as an example how much a placement yields in the HSBCfor being among the private banks with the most clients.
Based on it, The rent provided by a traditional 30-day fixed term was calculated, which is the minimum period required for these placements, for an initial amount of $120,000.
The main fact is that this investment tool has been paying, since the beginning of August, a annual interest rate (TNA) of 69.5%. In other words, it offers 16.5 percentage points more than what it offered until July 29, the date on which the Central Bank began a policy of greater increases, because since then it has already raised yields twice.
Therefore, today a traditional fixed term for amounts of up to 10 million pesos, pays throughout the financial system an interest rate of 5.79% per month.
Fixed term rent for a whole year
In the event that the saver considers that the variables will favor bank deposits in the coming months and opts for renew their traditional fixed term with the interest obtained every 30 days, for a whole year in a row, the income they will have through this operation is 96.52% of the effective annual rate (TEA).
This percentage is about 6 percentage points above the estimated inflation for all of 2022, and is equivalent to earning a monthly profit of 8.04%.
The interest rate paid by traditional fixed terms is 5.79% per month, a figure that is close to inflation.
A level that is beginning to be considered seductive with respect to the increase in prices in the economy, due to the fact that it is located above the last July, which was 7.4%, the highest mark in the last 20 years.
For the saver who bet on the “month to month”, and seeks to obtain 5.79% monthly that offers a traditional fixed term, the current panorama indicates that it can even match inflation, because for this August a price increase of 6% is expected and for September this increase would be 5.5%, according to the Survey of Market Expectations (REM), carried out by the Central Bank.
HSBC bank fixed term: how much do you earn with $120,000
On the side of concrete numbers, that saver who wishes to make a traditional fixed term for a period of 30 days for $120,000 in the HSBC bank, will obtain after that time a total amount of $126,950.
In other words, with said initial amount, a “extra” monthly rent of $6,950.
According to the information published by this banking entity, the minimum amount of pesos required to make a deposit in a fixed term is $300.
This constitution can be specified, as detailed on the official HSBC website, through the bank’s email, as well as by telephone, online banking and in person at branches.-