Investments in pesos were pressured by the acceleration of inflation in August. Find out what rate each bank offers in this context.
In recent months the gap between the inflation rate and the performance of the fixed terms had been declining. However, in August the disinflation path was interrupted, while the rates in pesos did not show significant changes; In the country’s main banks the average is 35.45%, with a maximum of 37%, while in other smaller entities the returns reach up to 40%..
In monthly terms, yields are close to the 3%. In parallel, inflation in August accelerated to 4.2%which is why investments in local currency lost in real terms.
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% (3.1% monthly)
- Macro Bank: 37%
- Galicia Bank: 37%
- HSBC Bank: 36%
- ICBC Bank: 35.45%
- Provincial Bank: 35%
- Credicoop Bank: 35%
- BBVA Bank: 35%
- City Bank: 34%
- Santander Bank: 33%
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:
- Rebate: 40% (3.3% monthly)
- BICA Bank: 40%
- VOII Bank: 40%
- Meridian Bank: 39%
- COMAFI Bank: 39%
- CMF Bank: 38.25%
- BIBANK: 38%
- Regional Credit Financial Company: 38%
- Bank of Chubut: 37.5%
- Julio Bank: 37.25%
He Banco Dino offers a rate of 37% and the Hipotecario bank 36%. Likewise, other provincial banks such as those in Corrientes, Córdoba or Tierra del Fuego, offer yields of between 35% and 36%.
The Badlar rate fell behind 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 The average, which applies to fixed-term deposits of more than $10 million, stood at 38.625% on September 13, when in August it reached 41.25%.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
