Banco Patagonia fixed term deposit: how much you will earn if you deposit $50,000 for 30 days at the new rate

These days, many people are thinking about how to transform the Christmas bonus into an investment that will allow them to capitalize their pesos and one option is to make a traditional 30-day fixed term deposit , which after last week’s rate hike implemented by the Central Bank (BCRA) yields 5% more than before.

Thus, today, financial entities must guarantee a yield of 53% per annum (nominal rate) for funds of less than $10 million placed at 30 days with an effective annual rate of 67%.

One of the banks that is among the most chosen by users to place a fixed term deposit is Banco Patagonia. Therefore, if you decide to put your bonus money in this bank, we help you to calculate how much it pays to put $50,000 in these investment instruments at 30 days.

Banco Patagonia fixed term deposit: this is how much you will earn per month

The aforementioned new nominal annual rate of 53% is equivalent to a monthly yield of 4.41%. With this average monthly income, if you place $50,000 in this type of investment at Banco Patagonia, at the end of the first 30 days, you will have accumulated $52,208 in your account, so your profit would be $2,205 in that term.

Meanwhile, if you take the effective annual rate as a reference, which is applicable in case you decide to continue renewing your investment month by month, it is equivalent to 67%, that is, 5.6% per month. Thus, if you leave your $50,000 in the traditional fixed term deposit at Banco Patagonia for one year, at the end of that term you will have a total of $83,500 in your account, which is equivalent to a gain of $33,500 in 12 months.

Advertisement

Banco Patagonia fixed term deposit: how to invest

As most of the entities nowadays, Banco Patagonia offers several options of channels to make the investment:

• On the one hand, Patagonia e-bank allows you to set up a time deposit online and without any additional cost or time limits.
• In branches, as it was done before digitalization.
• And it can also be done through the bank’s Investment Center by calling 0810-999-6655 – option 5 from Monday to Friday from 9 am to 7 pm.

Users have several ways to operate.

The online option is perhaps the most chosen these days and, although it does not have assistance from a person, it is very simple to use. To set up a fixed term deposit through Patagonia e-bank, you have to follow these steps:

1. Go to the “Investments” tab and, from there, enter the “Fixed Term Deposit” option.
2. Select the type of fixed term deposit (in this case traditional in pesos), the amount to be deposited and the period of time.
3. Once the data has been entered, click on “Accept” and confirm the data before confirming the operation.