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2h ago

Banks Cut 30-Day Peso Deposit Rates to Low-40s TNA as Market Calms

A calmer peso market after recent volatility prompted banks to trim promo yields from peaks near 58%.

El plazo fijo sigue rindiendo con las tasas elevadas.
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Overview

  • Average 30-day rates now hover around 40%–43% TNA, down from last week’s roughly 47% and well below recent spikes.
  • Offers remain highly dispersed: Banco Voii 48%, Reba 47%, Provincia de Córdoba 46%, Meridian 46.5%, while Nación pays 43% and large banks such as Santander 38% and Provincia 37%.
  • At a 43% TNA, a 30-day deposit yields about $35,342 on $1,000,000 and $8,835 on $250,000, and it takes roughly $3.68 million to earn about $130,060 in a month.
  • For 60-day placements, Banco Nación lists 42% TNA, with $750,000 generating approximately $51,780.82 in interest.
  • Plazos fijos remain low-risk instruments regulated by the BCRA and currently beat August inflation of 1.9%, though they are less suitable for protecting savings against a rising dollar.