The bank leading this increase is Banco Bica, which offers a 40% Annual Nominal Rate (APR), followed by Banco Voii with 39.25% and Banco Meridian with 39%. These increases reflect an adjustment of up to four percentage points compared to the previous month, in an attempt to improve the savings offer in pesos.
Other banks that have joined the trend include BiBank and Crédito Regional Compañía Financiera, both with an APR of 38%, while Banco Macro, Banco del Sol, Banco Dino and Banco de Tierra del Fuego have also adjusted their rates, standing at 37%.
The improvement in fixed-term deposit rates may not be enough to maintain demand, given that inflation in July stood at 4% monthly, far exceeding the yields offered by most entities.
Ranking of banks with the highest fixed-term rates:
Bica Bank: 40% APR
Voii Bank: 39.25% APR
Meridian Bank: 39% APR
BiBank: 38% APR
Regional Credit Financial Company: 38% APR
Macro Bank: 37% APR
Bank of the Sun: 37% APR
Dino Bank: 37% APR
Bank of Tierra del Fuego: 36% APR
Nation Bank: 37% APR
Provincial Bank: 35% APR
Galicia Bank: 35% APR
Mortgage Bank: 35% APR
BBVA Argentina: 34% APR
ICBC Bank: 33.5% APR
Banco Santander: 33% APR
HSBC Argentina: 31.5% APR
Source: Ambito
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