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2d ago

Argentina’s 30-Day Peso Deposit Rates Reach 55% as Banks Battle for Funds

Competition unleashed by BCRA deregulation is pushing up deposit yields.

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Overview

  • - Official tables for September 2–3 show 30-day TNAs spanning roughly 30% to 55%, with many large banks clustered in the mid-40% range.
  • - Top offers include Banco CMF at 55% and Meridian at 54.25%, while major players post lower figures such as Banco Nación at 47%, Provincia at 45% and Ciudad at 35%.
  • - Channel gaps persist: Banco Nación pays 47% for electronic placements versus 32.5% in branches, according to its simulator.
  • - Monthly effective returns (TEM) on leading offers reach about 4%–4.5%, exceeding estimated monthly inflation near 2%, based on rates published by the BCRA and media calculators.
  • - The BCRA’s daily comparison table includes rates for non-clients, and dollar term deposits have inched up, with Banco Nación at about 2.5% annual for 30 days.