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Argentina’s Central Bank Posts Bank-by-Bank Deposit Rates as Yields Fall

The new public table signals softer returns in a deregulated market.

Overview

  • The BCRA, which published the comparison on Thursday, shows 30-day peso deposits averaging about 19% nominal annual interest.
  • Major banks cluster between roughly 16.5% and 21.5% TNA, with Nación at 19%, Provincia and Macro at 21.5%, and Santander at 16.5%.
  • Smaller and digital lenders advertise higher offers for non-clients online, with top posted rates near 25% to 25.5% on the central bank’s list.
  • Even with returns lagging inflation, savers still favor fixed terms for safety and predictability, and many banks now pay the same rate online or in branch.
  • Rate dispersion stems from the BCRA’s 2024 removal of minimum deposit floors, and banks have kept trimming offers, including Nación cutting dollar deposit yields to 2.0% a year.