Fixed-term interest rates adjusted again. Some banks offer up to 50% annually, according to data updated as of October 20.
He savings in pesos continues to be an extremely crucial issue for thousands of Argentines who seek to protect their capital in a context with rising inflation and which is characterized by the financial volatility. Faced with this scenario, the traditional instrument of the fixed-term deposit takes center stage because many banks adjust their rate proposals to raise funds in pesos.
Since the centralization of statistics in the hands of the Central Bank of the Argentine Republic (BCRA)even the lists published by banks, there is a wide dispersion of the returns required to pay attention to them. The variations between large, digital and traditional entities can make a very important difference for small savers.
fixed term investments
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Fixed term: the interest rates of each bank today, October 20
According to the latest references, the general average rates for fixed terms in pesos are between 35% and 40% of Annual Nominal Rate (TNA) for the largest banks. However, some smaller or digital entities are offering up to around 50% TNA or more. These are the numbers according to the main banks in Argentina on this Monday, October 20:
- Banco de la Nación Argentina: 44%
- Santander Bank: 37%
- Banco Galicia: 41%
- Provincial Bank: 39%
- BBVA: 42%
- Macro Bank: 48%
- Credicoop Bank: 42%
- ICBC: 42.4%
- City Bank: 38%
Before deciding where to place a fixed term today, it is advisable to compare between banks, consider the minimum amount required, whether it is for clients or non-clients, and the channel (whether online or in the branch) since these factors influence the rate offered.
Source: Ambito
