Overview
- Deposit yields fell by about 3 to 4 percentage points in March 2026, with BCRA benchmarks for large 30‑day deposits (Badlar) and very large placements (Tamar) at 25.7% and 26.3%.
- Banks now advertise roughly 21% to 26% nominal annual rates, with Banco Nación paying 22% at 30 days and 26% at 90 days.
- Effective monthly gains for depositors are under 2.5% against inflation near 3% expected for March, which leaves savers with negative real returns.
- The easing follows moves to add pesos and cut funding frictions, including reserve purchases, partial rollovers of local debt, and lower bank reserve requirements to bring down borrowing costs.
- Household loan delinquencies above 10% in personal and credit‑card debt are restraining new credit, and BBVA Research expects strain to rise through the second quarter before stabilizing.