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3w ago

Argentine Banks Push Term Deposit Rates to 36% as Savers Calculate Living Costs

Savers rely on official TEM tables to discover that roughly ARS 37.6 million is required to generate a monthly Canasta Básica Total in interest.

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Hacé rendir tus ahorros en un plazo fijo: ¿Cuánta plata se gana con una inversión de $155.000 a 30 días?
Un plazo fijo de 5.000 dólares a 30 días puede generar hasta 10,27 dólares de interés, según el canal elegido.

Overview

  • Since March 2024 deregulation of minimum interest floors by the BCRA, banks have competed vigorously to offer the highest 30-day peso rates, reaching 36% TNA at Banco Provincia de Tierra del Fuego.
  • Removing dollar purchase restrictions in April prompted banks to revive dollar term deposits with rates up to 2.50% TNA at Banco Nación.
  • Argentina’s near 2% monthly inflation has eroded purchasing power, prompting savers to seek low-risk, high-yield deposits to safeguard their funds.
  • At the top peso rate, a saver must deposit roughly ARS 37.6 million to earn ARS 1.128 million in monthly interest, equivalent to the Canasta Básica Total poverty threshold.
  • Depositors use the BCRA’s daily TEM reference tables and online simulators to compare offerings and quantify the capital needed to cover living expenses.