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4h ago

Banks in Argentina Push 30-Day Peso Deposit Rates Toward 50% as Funding Tightens

A fresh increase in reserve requirements has forced lenders to compete for pesos with higher electronic promotions, which the central bank displays in a daily comparison table.

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Plazo fijo: ¿Cuánta plata hay que invertir para ganar $225.000 en 30 días? (Imagen ilustrativa).
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Overview

  • On August 26 the BCRA’s official rate table showed top 30‑day peso offers around 50–51% TNA, with examples including Banco CMF and REBA at 50% and BICA at 51%, and VOII near 50%.
  • Among the 10 banks with the largest deposit volumes, posted TNAs ranged widely from about 35% at Banco Ciudad to 47.7% at ICBC, with Banco Nación and Credicoop at 47%.
  • Banco Nación illustrates the channel gap, with electronic TNAs reported between 44% and 48.5% versus roughly 29.5% to 32.5% in-branch, and its simulator shows $5,645,000 yields about $225,026 in 30 days online.
  • Official data cited in recent coverage put the system’s average 30‑day rate near 51% late last week, up sharply from roughly 33% a month earlier after the latest reserve-requirement changes.
  • Consumers are using the BCRA comparison and bank simulators to place short-term deposits, with $500,000 for 30 days generating about $14,460 at 35% TNA to roughly $20,548 at 50%.