Most commercial banks stopped paying rates that were above 110% annually to first park in the 75% zone.
The banks lowered their prices again interest rates during the past week, so the performance of the Fixed deadlines continues to fall and consequently savers’ deposits continue to collapse.
Following the decision of the Central Bank on March 12, when it decided to lower the monetary policy rate that it paid to banks for passive repos by 30 points (from 110% to 80%) and released the minimum rates that banks offer to savers and banking entities followed that line and adjusted their returns.
In this way, the majority of commercial banks stopped paying rates that were above 110% annually to first stay in the 75% zone and in the last week the main banking entities in the country adjusted it again to the order of the 70%.
When considering that the effective monthly rate they pay per month is 5.75% on average, it is observed that the performance of the fixed term will be below March inflation, which according to private projections will be around 13%.
How much do fixed terms pay in the 10 banks with the most deposits
- Banco de la Nación Argentina 70%
- Banco Santander Argentina SA 70%
- Banco de Galicia and Buenos Aires SAU 70%
- Bank of the Province of Buenos Aires 70%
- Banco Bbva Argentina SA 70%
- Banco Macro SA 71%
- Hsbc Bank Argentina SA 70%
- Credicoop Cooperative Limited Bank 70%
- Industrial and Commercial Bank of China (Argentina) SAU 70%
- Bank of the City of Buenos Aires 70%
In other financial entities, the performance for fixed terms is: Ualá, 77%; Meridian Bank, 75%; BiBank, 73%; Banco Tierra del Fuego, 73%; Banco del Sol, 72%; Bica Bank, 72%; Mortgage Bank, 71%; Comafi, 71%; Banco Julio, 71%; Bank of Currents, 70%; Bancor, 70%; Banco Santa Fe, 70%; Banco Entre Ríos, 70%; Banco San Juan, 70%; Banco Santa Cruz, 70% and Banco Masventas, 64%.
Source: Ambito
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