If you want to create a traditional fixed term, it is important that you keep in mind the limits established by the AFIP to avoid restrictions.
When making a traditional fixed term denomination in pesos, it is important that you keep in mind the limits established by the Federal Administration of Public Revenue (AFIP). No need to justify the origin of the money and, if they request it, Know in detail which are the valid documents for this unit.
There is currently no maximum amount that can be held in a given period.
However, if you want to take advantage of the current interest rate (91%) is the maximum amount that can be kept $30,000,000, But if it is taken into account that interest should be reinvested to reach TEA 141%Amount to be kept should be less than $30,000,000,
Despite this restriction, the limit is from bank account, so a part can be deposited in one bank and the other part in another bank. however, Such high figures being unlikely, it has been decided to stick to the traditional fixed termcompared to other options like negotiable obligations,
On the other hand, it is important to remember If there is no declared income, the maximum amount that can be held over a period of time is $200,000 (including transfers, deposits), because, in excess of that amount, The bank may request to justify the origin of the funds,
What if I invest 1 million in a fixed period?
in case you put $1 million Over a certain period of time and you have not declared income to justify it, there is a high probability that the bank will ask you to “justify the origin of the funds”.
It is important to know what are the limits Establishes AFIP to avoid having to justify the origin of funds
If you don’t do this, the institution may close your account and send an STR (Suspicious Operations Report) to the FIU (Financial Information Unit).
In this line, the following documents are usually the most “common” to justify the origin of the funds:
- salary receipt and/or retirement benefits
- proof of monoattribute
- previous months billing
- certificate of funds issued by a public accountant
- declaration of heir
- Documents proving the sale of shares or company
- bill of sale, for example, in case of sale of a vehicle
How much money can be invested in Argentina without declaring it over a certain period?
The amount that can be kept in a certain period of time without declaring it in Argentina is, as we mentioned earlier $200,000, However, that amount includes all types of recognitions such as deposits, transfers, other types of investments, etc.
On the other hand, it’s important to note that financial institutions constantly cross-reference data with entities like the BCRA and AFIP, so if you have empty income and the amount of money you’ve held over a period of time “matches” your profile , it is very possible that it will not ask you to explicitly “declare” the money you have invested.
What is the minimum amount that can be invested in a given period?
The minimum amount that can be deposited in a given period is quite variable, as it depends on each bank. However, generally speaking, the minimum amount is $500 And this $2,000,
Also, it is important to note that, on many occasions, the minimum amount to make a fixed deposit varies if it is done through home banking or at a branch.
The minimum amount that can be kept in a given period depends on each bank
In this sense, through home banking, the minimum amount is lower, as it is much less expensive for the bank to virtually create their fixed terms for customers individually.
In the past, the interest rate also varied. In general, the rate for face-to-face care was much lower than the rate for virtual care.
However, both in-person and online have the same interest rate, with minimum rates being set by the BCRA.