The current economic context in Argentina has put the focus on the interest rates offered by banks for fixed term depositsespecially for amounts of $500,000 within 30 days.
Amid expectations of a possible reduction in monetary policy rates by the Central Bank (BCRA), banking entities offer returns that vary significantly depending on their Annual Nominal Rate (TNA).
Fixed term: the best rates on the market
The banks that lead the ranking of highest rates are the CMF SA Bank and the Banco Voii SAboth with a TNA of 35%. A deposit of $500,000 in these institutions generates a monthly return of $514,383.56becoming the most profitable options for savers looking to maximize their income.
Other entities with competitive rates include the Banco Meridian SA and Regional Credit Compañía Financiera SAUwhich offer a TNA of 33% and a monthly return of $513,561.64. Meanwhile, regional banks such as Banco del Chubut SA and the Banco Bica SA manage a TNA of 32%, which translates into a return of $513,150.68.
Public and private banks
Public banks, such as Argentine Nation Bankhave slightly lower rates but are still competitive. With a TNA of 30%, a fixed term of $500,000 in the Nation generates $512,328.77 monthly. For his part, the Provincial Bank of Buenos Aires and the City Bank offer TNA of between 28% and 29%, with yields ranging between $511,506.85 and $511,917.81.
In the private sector, rates vary considerably. For example, the Macro Bank stands out with a TNA of 31.5% and a monthly return of $512,945.21even surpassing some public entities. Other banks, such as BBVA Argentina Bank and the Galicia Bankmanage TNA of between 27% and 28%, with returns ranging from $511,301.37 until $511,424.66.
The lowest rates on the market
He Banco Masventas SA offers the lowest rate, with an APR of 23.5%, which is equivalent to a monthly return of $509,657.53. In the case of Industrial and Commercial Bank of China (ICBC)the TNA is 27.8%, generating $511,424.66.
The role of the Central Bank in rate dynamics
The BCRA, under the management of President Javier Milei, faces a delicate balance between monetary policy, inflation and the exchange rate. Currently, the reference rate is at 32% annual nominaland experts anticipate a possible reduction of up to 500 basis points if monthly inflation continues around 2.5%. This scenario could cause adjustments in the rates offered by banks in the coming months.
According to the consulting firm 1816, a reduction in the monetary policy rate could encourage investments in assets in pesos, while the crawling peg (devaluation rate) could decrease to 1% per month.
Fixed term: why comparing options is key
The difference between rates can translate into significant variations in income for savers. For example, while a fixed term of $500,000 with a TNA of 35% generates $514,383.56one with a TNA of 28% only offers $511,506.85marking a significant gap.
Furthermore, regional and cooperative banks, such as Credicoop Bank or the Current Bankoffer competitive rates close to 29%, being viable options to diversify investments.
Source: Ambito
