Following the slowdown in inflation, the BCRA cut the monetary policy rate, which impacted the yield on 30-day fixed-term deposits in pesos.
With the slowdown in inflation, the Central Bank (BCRA) reduced the monetary policy rate, which in turn impacted a cut in the yield of fixed terms. At this moment, Banks offer returns of, on average, 30% of the Annual Nominal Rate (TNA).
The fixed term is one of the most popular options among Argentines due to its ease and because it offers higher returns in pesos compared to the purchase of financial dollars or the informal market.
Fixed term: how much do I earn if I invest $700,000?
One of the main doubts that arise when establishing a fixed term It is how much you have to deposit to win a significant sum. In this calculation, the most important thing is to know the amount that one is willing to deposit, knowing that you will not be able to claim it for 30 days and the interest rate of the bank in which the investment is made.
For example, when depositing $700,000 in Banco Nación, After 30 days (minimum placement period), the saver will receive the invested capital plus a 2.5% monthly interest ($17,500)given that the TNA is 30%. Within private financial entities, for example, Santander gives a monthly return of 2.25% ($15,750) and Macro 2.625% ($18,375).
Fixed term: the best rates on the market
Currently, banks adjusted interest rates for fixed terms as follows:
- Bank of the Argentine Nation: 30%
- Banco Santander Argentina: 27%
- Bank of Galicia and Buenos Aires: 28%
- Bank of the Province of Buenos Aires: 29%
- BBVA Argentina Bank: 28%
- Macro Bank: 31.5%
- HSBC Bank Argentina: 28%
- Credicoop Cooperative Limited Bank: 29%
- Industrial and Commercial Bank of China (Argentina): 29.3%
- Bank of the City of Buenos Aires: 28%
- BICA Bank: 32%
- CMF Bank: 35%
- Comafi Bank: 30%
- Current Bank: 29%
- Bank of the Province of Córdoba: 29%
- Chubut Bank: 32%
- Sun Bank: 28%
- DINO Bank: 29%
- Mortgage bank: 29%
- Julio Bank: 29.5%
- Masventas Bank: 23.5%
- Meridian Bank: 33%
- Provincial Bank of Tierra del Fuego: 30%
- VOII Bank: 35%
- BIBANK: 30%
- Regional Credit Financial Company: 34%
Source: Ambito
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