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5h ago

Argentina’s 30-Day Peso Deposit Rates Hit 55% as Banks Race for Savings

Digital placements now pay far more than in-branch offers, signaling an aggressive reshaping of deposit pricing after Central Bank policy shifts.

Las tasas de interés para plazos fijos este martes 2 de septiembre
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El palzo fijo sigue entregando intereses altos (Imagen ilustrativa).

Overview

  • BCRA’s latest comparison shows top 30‑day offers near 55% TNA (e.g., Banco CMF), with many large banks clustered in the mid‑40% range.
  • Banco Nación illustrates channel gaps, paying 32.50% TNA in branches versus 47% for electronic placements, and its simulator shows that earning about $100,000 in a month requires deposits of roughly $3.74 million in‑branch or $2.59 million online.
  • Monthly effective yields reach up to 4.5% TEM, with several institutions posting 50–54% TNA (Bica, Meridian, Voii, Mariva, Tierra del Fuego), while others remain lower such as Santander at 38% and Ciudad at 35%.
  • Banks accelerated rate hikes after the BCRA lifted minimum deposit-rate floors in 2024 and raised reserve requirements, moving some offers from roughly 27–29% to around 50% in recent weeks.
  • Savers are using the BCRA’s rate tables and bank simulators to shop offers, while dollar 30‑day deposits remain low‑yield, with Banco Nación at 2.5% annual generating about $2.47 on a US$1,200 placement in 30 days.