How to invest in a CDT: This is what you need to invest to earn 5 million in a CDT: Exact time and amount

How to invest in a CDT: This is what you need to invest to earn 5 million in a CDT: Exact time and amount
How to invest in a CDT: This is what you need to invest to earn 5 million in a CDT: Exact time and amount

A CDT or Term Deposit Certificate is a tool offered by different financial institutions in the country so that people can save and at the same time generate profits with the interests they offer. However, since these are very low-risk investments, banks do not dare to offer a very high reward, which is why it is designed more to be a model for saving money for a stipulated time.

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What people must do to invest in one of these CDTs is to approach the bank of their choice, choose a specific term, usually the maximum is 24 months or less, and sign the contract with the organization. Once the time is up, the bank will have to return the money it invested along with the interest generated over the agreed time.

However, many people do not understand or know very well how much money they could be generating with this or calculate the deadlines to know how much they have to invest to achieve a goal. For this reason, here we will tell you the amount you need to enter into a CDT to get 5 million and the deadlines you will have to wait for this.

How much should you invest in a CDT to earn 5 million?

Now, taking into account what was explained above about the low risk of this type of investment and the fact that banks do not provide very high remuneration, to achieve five million you must have a fairly close figure.

On the other hand, it is necessary to take into account that banks have been reducing the interest rate, this is an important point when investing.

According to the Bank of the Republic, the weekly and monthly deposit rates for this May 28 are the following:

  • Interest rate on certificates of deposit term 90 days (DTF)10.24%
  • Interest rate on certificates of deposit term 180 days (CDT180)10.46%
  • Interest rate on certificates of deposit term 360 days (CDT360)10.54%

These rates represent an average of those found in banks nationwide.

For this exercise, at Caracol Radio we use the Mejorcdt.com tool. There people can place the value to invest in a CDT and the page will show the results of the investment in terms of time in different entities.

In this way, we decided to place the value of 4,400,000 and in different banks the CDT would result as follows:

  • With Bank W you obtain $5,110,885 at a rate of 10.5% for 18 months.
  • With Coltefinanciera $5,090,085 is achieved at a rate of 10.2% for 18 months.
  • With Dann Regional you achieve $5,076,235 at a rate of 10% for 18 months
  • With Bancamia $5,045,117 is achieved at a rate of 9.55% for 18 months
  • With Ban100 you can achieve $5,027,857 at a rate of 9.3% for 18 months

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