Overview

• New BCRA comparisons for Aug. 28 show 30‑day TNA near 47% on average with many offers above 50% and peaks around 55% at banks such as CMF, while Meridian lists 54.25%, Macro 53.5%, Bica/Voii/Tierra del Fuego 54% and Mariva 53%.
• Rates vary widely by channel and customer segment, with higher returns online than at branches; Banco Nación displays 47% for home banking versus 32.5% in person.
• Digital wallets are pulling in fresh deposits with aggressive promos, as Cuenta DNI reports a 52% rate and says more than 60,000 users placed ARS 150 billion in three weeks.
• At these levels, short deposits often beat recent inflation, with a 50% TNA yielding about 4.17% in a month versus July’s 1.9% inflation rate.
• Sector sources warn that higher encajes and daily liquidity calculations are lifting bank funding costs, a shift expected to feed through to pricier loans and tighter credit.