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.
He Central Bank (BCRA) published the interest rates offered by the main banking entities for 30-day fixed-term deposits in pesos. Currently, the annual nominal rates (TNA) range between 30% and 40%, according to the entity.
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%.
In this sense, if these figures are compared with the data from Friday, September 13 (a week ago), no major variations have been observed in most rates.
However, the Banco Galicia raised its TNA from 37% to 37.5%which places it slightly above the overall average. Generally speaking, the banks leading the rate offering are Reba, Banco Bica, Banco CMF, Banco VoII and Bibank, all offering the 40% cap.
Fixed term: this is the interest rate of each bank on Friday, September 20
Below is a table with the most recent rates offered by the country’s major banks. This data has been updated as of September 20, 2024:
Reba: 40%
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 Bank: 37%
Bank of the Province of Buenos Aires: 35%
BBVA Argentina Bank: 35%
Credicoop Bank: 35%
ICBC Argentina: 35.45%
City Bank: 34%
Mortgage Bank: 36%
Bank of Cordoba: 35%
Bank of the Sun: 33%
Masventas Bank: 30%
Source: Ambito
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