30-day fixed term: how much does investing $2,000,000 pay with current rates

A fixed term deposit of $2,000,000 for 30 days allows you to know from the start how much money will be collected at maturity. With the current rates, the profitability varies depending on the chosen financial institution.

According to a survey published by TN, several banks have updated their interest rates in recent weeks, and some institutions already offer a Nominal Annual Rate (TNA) of up to 23%.

How much does a fixed term deposit of $2,000,000 for 30 days yield?

Taking as a reference a TNA of 18.75%, investing $2,000,000 for 30 days generates an approximate profit of $30,821.92 in interest.

At the end of the term, the saver will receive around $2,030,821.92, which is the result of adding the initial capital plus the earnings obtained.

What rates do banks offer for a fixed term deposit for 30 days

• Banco Nación: 19%

• Banco Galicia: 17.5%

• Banco BBVA: 18.75%

• Banco Santander: 14.5%

• Banco Provincia de Buenos Aires: 19.5% - 21%

• Banco Macro: 19.5%

• ICBC Argentina: 17.2%

• Banco Ciudad: 17%

• Banco Patagonia: 16%

• Banco Credicoop: 17.5%

• Banco BICA: 22%

• Banco CMF: 22%

• Banco Comafi: 17%

• Banco de Comercio: 19%

• Banco de Formosa: 18.5%

• Banco de Córdoba: 20.75%

How to set up a fixed term deposit from online banking

Most banks allow you to make a fixed term deposit online in just a few steps.

• Log into online banking or the bank's app.

• Access the Investments or Fixed Term menu.

• Enter the amount to invest, in this case $2,000,000.

• Select a term of 30 days.

• Confirm the transaction and save the receipt.

What is a fixed term deposit and why is it still an investment option

A fixed term deposit consists of depositing money in a financial institution for a specified period in exchange for an agreed interest rate from the start.

Its main advantage is predictability, as the investor knows how much they will receive at maturity. However, before making the investment, it is advisable to compare the offered yield with the evolution of inflation to assess whether it maintains the purchasing power of the capital.