Analysts expect the BCRA to keep rates at competitive levels so as not to lose attractiveness compared to other forms of investment, such as bonds and foreign currencies. However, savers will be the ones who will evaluate their best option.
While the Parallel dollars extend the exchange summerinvestments in pesos maintain their attractiveness for now, with rates that are close to inflation and that in recent months have been gaining on the variations of the MEP and blue exchange rates. However, the Central Bank (BCRA) updated the interest rates offered by the main banking entities for 30-day fixed-term deposits in pesos.
Currently, annual nominal rates (TNA) range between 30% and 40%, according to the entity. But also, in this context, the nominal yields offered by virtual wallets, which reach a maximum of 45%, are competing, although with some conditions.
Despite the stability in rates, inflation remains a central concern, with the cumulative inflation rate standing at 104.4% over the past year. Analysts expect that the BCRA maintains rates at competitive levels so as not to lose attractiveness compared to other forms of investmentsuch as bonds and foreign currencies, however, savers are the ones who will evaluate their best option.
With the consumer price index (CPI) projected at 3.5% for September, Some economists predict that fixed-term deposit rates could experience upward adjustments in the coming weeks to generate greater incentive. Currently, the monthly effective rate (TEM) for fixed-term deposits is around 3.33%.
Generally speaking, the banks that lead the rate offering are Reba, Banco Bica, Banco CMF, Banco VoII and Bibank, all offering the 40% cap.
Fixed term: what interest rate does each bank offer this Monday, September 23?
Below is a table with the most recent rates offered by the country’s largest banks. This data has been updated as of September 23, 2024:
- Reba: 40% APR
- Bica Bank: 40%
- CMF Bank: 40%
- VoII Bank: 40%
- Bibank: 40%
- Comafi Bank: 39%
- Meridian Bank: 39%
- Regional Credit Financial Company: 38%
- Chubut Bank: 37.5%
- Julio Bank: 37.25%
- Dino Bank: 37%
- National Bank: 37%
- Galicia Bank: 37.5%
- Macro Bank: 37%
- HSBC: 37%
- Mortgage Bank: 36%
- Bank of Tierra del Fuego: 36%
- Bank of Corrientes: 36%
- Bank of the Province of Buenos Aires: 35%
- BBVA Bank: 35%
- Credicoop Bank: 35%
- ICBC Argentina: 35.45%
- Bank of Cordoba: 35%
- City Bank: 34%
- Santander: 33%
- Bank of the Sun: 33%
- Masventas Bank: 30%
Virtual wallets: What interest rate does each one offer this Monday, September 23?
- Ualá: 45% APR (Paid account, with a limit of $500,000)
- Orange X: 42% (Paid account, with a limit of $600,000)
- Prex: 37.68% (FCI)
- Payment Market 37.34% (FCI)
- Personal Pay: 36.46% (FCI)
- LetsBit: 35.87% (FCI)
- N1u: 35.02% (FCI)
- Lemon Cash: 34.25% (FCI)
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
