Fixed-term deposits: which banks pay the rate closest to inflation?

The slowdown in inflation to its lowest monthly level since January 2022 gave it a Greater attractiveness to fixed-term deposits. Currently the average annual nominal interest rate For retail placements it is somewhat higher than 34.5% in the main banks of the country, with a maximum of 37%, While in other smaller entities the limit rises to 40%.

In monthly terms, yields are close to the 3%. While they are still below the monthly inflation rate, which in July was 4%the gap has narrowed considerably in recent times.

According to a survey by the Central Bank (BCRA), These are the rates of the fixed terms in the Top ten banks with the highest volume of deposits:

• National Bank: 37%
• Macro Bank: 37%
• Provincial Bank: 35%
• Credicoop Bank: 35%
• Galicia Bank: 35%
• BBVA Bank: 34.25%
• City Bank: 34%
• ICBC Bank: 33.5%
• HSBC Bank: 33%
• Santander Bank: 32%

Which banks offer a rate higher than 37% for fixed-term deposits?

The financial institutions that offer an annual return greater than 37% for fixed terms are the following:

• Reba: 40%
• BICA Bank: 40%
• VOII Bank: 39.25%
• Meridian Bank: 39%
• CMF Bank: 38.25%
• BIBANK: 38%
• Regional Credit Financial Company: 38%
• Julio Bank: 37.25%

He Banco Dino and Uilo (Ualá wallet) offer a rate of 37%Comafi 36% and Hipotecario 35%. Likewise, other provincial banks such as those in Chubut, Corrientes, Córdoba or Tierra del Fuego, give yields of between 35% and 36%, while Brubank gives 34%.

The Badlar rate exceeds the monetary policy rate

The monetary policy ratewhich is the one that banks “lend” funds to the Treasury, is currently 40%. Therefore, this return functions as a cap on the returns on fixed-term deposits.

However, the Badlar rate average, which governs fixed terms greater than $10 million, climbed to 41.25% on August 22, the highest level since May 3.