2023-10-12 21:05:00
He Indec reported this Thursday the data of the september inflation, which closed at a historic 12.7%. This is a higher number than the one recorded in August and the worst in 32 years. Given this data, the Banco Central He decided raise the interest rate on fixed terms to “encourage” savers.
After a board meeting, the highest monetary authority raised the minimum guaranteed interest rate on the fixed terms of human personsestablishing the new floor at 133% (11% monthly effective rate) for 30-day deposits up to 30 million pesos.
The annual effective rate (TEA), which means the interest generated following one year, if the fixed term is renewed every month, reached 253%. While, the effective monthly rate rose from 9.7% to 11%.
With double-digit inflation data as expected, the performance of the traditional fixed term was going to be negativefor which the organization led by Miguel Pesce decided to increase the variable.
After the STEP August had been established a new adjustment in rates, in that case 21 percentage points and set the Leliq yield at 118% (28 days) and 120% (180 days). These Letters constitute the fixed terms and thus savers receive an average rate of 9.8% monthly.
Interest rates increased: how much do I earn if I invest $100 or $200 thousand in a fixed term
With this increase in the interest rate, if a person invests $100,000 within 30 days they would earn $11,000 interest and you would get a total amount to withdraw or reinvest from $111.000.
With a capital to invest of $200,000 deposited in a fixed term of 30 days, an investor can earn $22,000 interest and you will get a total of $222,000 to withdraw or reinvest.
The annual effective rate (TEA) is the result of the monthly reinvestment of the total earned with each monthly fixed term. That is, in a year you must invest once more, month by month, andl deposit plus the interest earned in each year.
Therefore, if a person deposits $ 200.000 in a fixed term and reinvests it along with its interest, following one year you will obtain approximately $706,000. If you deposited $100,000 initially, following one year you will have $353.000
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