2023-07-07 00:08:03
Investing in CDT is the right thing to do in these times.
Are Colombians capitalists? When the Superfinanciera data on the flows to the CDTs in April 2023 are reviewed, it can be shown that they are.
There is practically as much money in savings accounts as there is in certificate of deposit term (CDT). Colombians are beating inflation when they invest in CDTs and this investment is a very important reflection of capitalism.
Investing in CDT is the right thing to do in these times.
CDT balances almost equal to savings accounts
In April 2023, Colombians accumulated $269 billion pesos in savings accounts, while they invested $267 billion in CDT.
For the previous year (2022), Colombians had invested $170 billion pesos. In other words, in 2023, with yields exceeding 10% per year, there was an investment increase of 63%.
It was also shown that there was a decrease in the money saved in bank savings accounts and that this money was invested in CDTs.
When the interest rate is raised by the central bank (Banco de la República), investors take advantage of fixed income to put money to work and Colombians are following this investment principle. In short, money is flowing to the CDT in Colombia, just as it happens in the most capitalist country in the world (United States).
The best CDTs
Depending on the deadlines, the CDTs that are currently giving the best results are:
At 90 days: Banco Santander (15.70%), Banco Unión (14.51%), Banco Finandina (14.41%), Banco de Occidente (14.30%), Banco de Occidente (14.30%) and Serfinanza (14.23%).
At 120 days: Coltefinanciera (14.21%), CoopCentral (14.20%), GNB (13.75%), Banco Unión (13.70%), Banco Pichincha (13.43%).
At 180 days: Financiera Juriscoop (15.22%), Banco Falabella (14.82%), Crezcamos (14.12%), Credifamilia (14.05%), mibanco (14.01%).
At 360 days: Banco de Bogotá (15.33%), Banco Av Villas (15.14%), Tuya (14.89%), Banco Finandina (14.89%), Banco de Occidente (14.56%).
*Effective annual rate
This is interesting from the latest report from Superfinanciera. In April, the balances in CDT almost equal the balances that Colombians have in savings accounts (in both cases bordering on $270 billion). In one year, CDTs were opened for $97 billion due to high interest rates. pic.twitter.com/ciLzMBc7xr
— VICTOR GROSSO (@VictorGrosso) July 5, 2023
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