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6h ago

Argentina’s 30-Day Fixed-Term Deposit Rates Rebound, Top Out at 54%

Fresh BCRA data show a 41% average TNA with top posted offers at 54%, outpacing the latest INDEC inflation reading.

El plazo fijo mejoró sus tasas de interés y aumentaron los rendimientos para depósitos a 30 días (Imagen ilustrativa).
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Overview

  • Banks lifted 30-day plazo fijo rates on Thursday, October 16, with several lenders crossing the 50% TNA mark.
  • The BCRA comparator lists a 41% average TNA (about 3.41% monthly) and a current range from 30% to 54%, which exceeds the latest inflation print.
  • Among major banks, reported TNAs include Banco Macro at 45%, ICBC at 42.4%, BBVA at 42%, Banco Galicia at 41% and Banco Nación at 41%.
  • Top advertised offers for non-clients reach 54% at Banco VOII, Banco CMF, Banco Bica and Banco Meridian, with others near 50% such as Mariva and Reba.
  • Channel and client status materially change returns: Banco Nación shows 34% in-branch versus 41% online, yielding about ARS 12,575 vs ARS 15,534 on a ARS 450,000 30-day deposit.