After the price hike: Should you finance yourself or save for a fixed term?

After the price hike: Should you finance yourself or save for a fixed term?

The update implemented this week raised the return on fixed terms in pesos for retail deposits. The rate of these became 75% nominal annually. This means that If a deposit is created for 30 days renewed every month for a year, The annual effective rate will reach 107%The monthly rate is above 6.2%. This means that if the position is $100,000, the monthly return is $6,200. If it is completely renewed, the percentage is calculated on this new total.

If one takes into account inflation expectations That the market, based on the Central Bank’s market expectations survey, inflation will slow in the rest of the year, as term deposits will beat inflation.

An increase in the interest rate also affects Credit Card PurchasesEspecially in the case of financing payments. Premiums become more expensive and if the minimum is paid the benefits are high. The annual nominal rate of the banks will be 77% For expenses of up to $200,000, making Actual annual rate is 110.9%. If bank charges are added, the cost of financing is up to 132%.

The nominal annual rate of the program is 85% of fixed term ratea total of 63.7%.

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