Overview
- The BCRA published its daily 30‑day plazo fijo table on Wednesday listing the ten banks with the largest deposit volumes and additional rates reported for non‑clients.
- Quoted rates on October 14 range roughly from the mid‑teens to the mid‑20s in nominal annual terms, with examples including Banco Nación ~19.25%, Banco Provincia ~21%, CMF and VOII ~23–23.5%, and Reba up to 24%.
- INDEC reported September inflation at 1.9% month‑on‑month, and converting annual nominal rates to a 30‑day equivalent shows 22% a.a. ≈ 1.8% for 30 days and 23.5% a.a. ≈ 1.93% for 30 days.
- That math means many traditional large banks currently pay less than last month’s price rise while a subset of smaller or digital banks post nominal rates that approximately preserve purchasing power; actual real returns still depend on contract terms, client status and subscription channel.
- The spread reflects a 2024 deregulation that let banks set their own minimums, increasing competition and rate dispersion and raising the risk that savers will move funds toward smaller lenders if inflation stays high or large banks do not raise offers.