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.