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yesterday

Argentina’s Major Banks Cut 30-Day Deposit Rates to Mid-20s as Central Bank Publishes New Table

With minimums deregulated, posted TNAs now trail projected inflation, pushing savers to compare divergent offers across banks.

El plazo fijo sigue siendo un opción utilizada por los ahorristras (Imagen ilustrativa).
Image
Con tasas renovadas, el plazo fijo ofrece nuevas ganancias a 30 días (Imagen ilustrativa).

Overview

  • The BCRA’s December 9 transparency table lists 30-day TNAs such as Banco Nación at 24.5%, Macro at 25%, Santander and Galicia at 21%, Provincia at 23%, ICBC at 24%, and Ciudad at 22%.
  • Among the top deposit holders, rates cluster between roughly 21% and 25%, while some smaller lenders for online deposits to non-clients reach 28%–29.5% (e.g., Meridian, Voii, Crédito Regional at 29.5%).
  • Market surveys show a sharp pullback from early November, when 30-day fixed-term deposits paid around 35% TNA, to the mid-20% range now.
  • At a 24.5% TNA, depositing $1,500,000 for 30 days generates about $30,205 in interest, according to published examples.
  • Banco Nación’s simulator indicates earning roughly $335,000 in 30 days requires about $19,000,000 at 21.5% in-branch or about $16,304,000 at 25% electronically.