Overview

• Rates now show wide dispersion across institutions, with the central bank’s latest table listing offers generally from the high‑30s to the upper‑40s TNA and some reported outliers near 55%.
• Examples from the official list include Banco Nación at 44%, Banco Provincia at 43%, Banco Ciudad near 31%, and Banco de la Provincia de Córdoba at 48.5%, with CMF and others also at the top of the range.
• Banks are segmenting aggressively by channel and client: Banco Nación’s simulator shows roughly 29.5% in‑branch versus about 44% through electronic channels for 30‑day placements.
• Analysts tie the jump to recent reserve ratio changes and the shift from monthly to daily integration, which raised funding costs and intensified competition for peso deposits.
• At current quotes, 30‑day deposits yield above projected inflation, though advisers highlight liquidity trade‑offs and point to short‑term market instruments such as Lecaps as flexible alternatives.