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Argentina’s 30-Day Plazo Fijo Rates Diverge as Banks Cut Offers

Rate dispersion reflects bank-set payouts following the BCRA’s removal of minimum floors.

Overview

  • The BCRA’s comparative table for Friday, December 26 shows 30-day deposit rates spanning roughly 20.5% to 28% nominal annual.
  • Banco Nación pays 23.5% TNA versus 22% at Banco Provincia, a gap worth about $1,250 per month on a $1,000,000 placement.
  • Top yields come from smaller players, with institutions such as Banco Meridian and Reba posting around 28% TNA, while large banks cluster in the low-to-mid 20s.
  • Channel matters: Banco Nación pays 23.5% for digital placements but only 20.5% if the deposit is opened in a branch.
  • Rates have eased from early-November peaks near 35%; at 23.5% TNA, $1,200,000 earns about $23,178 in 30 days, and experts note fixed terms are more predictable than buying dollars even as both struggle to beat inflation.