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2h ago

Argentine Banks Trim Plazo Fijo Rates in Late-September Repricing

Fresh BCRA tables show most 30-day offers now cluster between 30% and 45% after early‑September peaks.

Image
Los bancos sorprenden con las nuevas tasas de interés para plazos fijos en dólares
El plazo fijo cambió de tasas, pero mantiene la ganancia para depósitos a 30 días (Imagen ilustrativa).
Se registra una tendencia a la baja en las tasas, en línea con la baja de la tasa de referencia del Banco Central de Reserva del Perú (foto: El Peruano)

Overview

  • Major institutions cut 30‑day TNAs for peso deposits, with Banco Nación down to 36% from 47% three weeks ago and peers such as Santander at 35%, Galicia at 35.25%, Provincia at 34% and BBVA at 35%.
  • The BCRA’s latest comparator lists most advertised 30‑day rates in a roughly 30%–45% band, while several mid‑sized and provincial lenders still quote near 40%–45% for non‑clients.
  • Channel gaps persist, with Banco Nación offering 36% via online channels but 29.5% at the counter, and other banks also paying more on web or non‑client promotions than in‑branch.
  • Banks raised some dollar term‑deposit offers to keep FX in the system, with examples including Nación at 2.5% annual, Galicia at 2.4% and BBVA at 1.25%, which deliver modest returns such as about $3.70 on US$1,800 in a month at Nación.
  • In Peru, banks and financieras are running limited‑time TREA offers near 5% through September 30, and a market analyst indicates deposit rates may ease in October following recent BCRP reference‑rate cuts.