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Argentine Banks Offer 30-Day Peso Term Deposits Near 37% TNA

Banks are using digital channel premiums to offer peso yields near 37% after the central bank removed minimum rate floors, with liquidity rules tweaked earlier this year.

El plazo fijo sigue siendo una interesante opción para los ahorristas (Imagen ilustrativa).
Plazo Fijo.
Image
El plazo fijo es una herramienta ideal para los ahorristas.

Overview

  • Systemwide 30-day peso deposit rates have clustered around a 37% nominal annual rate, led by Banco Nación’s electronic channel at 37%.
  • Individual bank offers span from the low 20s to as high as 39% TNA at digital-focused lenders such as Reba Compañía Financiera.
  • Electronic and homebanking channels pay an 8–10 percentage point premium over in-branch rates, driving pronounced channel-based differentiation.
  • Banks are also promoting 30-day US dollar deposits at annual rates between roughly 0.05% and 2.5% to keep greenbacks onshore.
  • The recent surge in peso rates follows the BCRA’s March 2024 removal of minimum rate floors and later policy moves including a 30.5% benchmark rate and the winding down of liquidity instruments.