Fixed term: how much you have to invest in each bank to earn $500,000 after departure

After the drastic removal of most exchange barriers, banks adjusted interest rates for term deposits. Since the dispersion is large, the amounts needed to obtain predetermined results may vary considerably.

Starting this week, Argentines can buy official dollars again through the bank, a practice that had practically disappeared in the last six years by the exchange rate.This possibility caused the demand of savers to increase to become green banknotes, so the financial institutions decided to respond with an aggressive rise of the rate of the retail fixed term.To try to attract the pesos in the market, there were banks that increased the rate for …

I know the return you get, how much each bank pays and how it is made.

The recent lifting of the exchange rate quota in Argentina has generated an immediate response in the financial system. Banks have adjusted upwards the interest rates offered for fixed terms, seeking to capture deposits in pesos in a context of greater competition for savings. Why did the rates rise? The removal of exchange restrictions for individuals, has transformed the financial landscape. Now, savers can access the dollar without limitation…

The fixed term is one of the most chosen tools by people who prioritize security and financial stability. After the departure of the quota to the dollar, several banks raised the Annual Nominal Rate (TNA), so it is located around 37%. With that rate, an investment of $1,000,000 to 30 days generates interest for $30,410.96. After the period, the final amount credited to the account the interest will be $1,030,410.96.