Particle.news
Download on the App Store

Argentine Banks Keep 30-Day Plazo Fijo Near 25% TNA as Smaller Lenders Push 30–33% Online

With the BCRA’s 2024 rate‑floor rollback, competition now yields mid‑20% returns at major institutions versus notably higher online quotes from niche players.

Overview

  • On March 11, BCRA data show Banco Macro at 27% TNA, Nación and Provincia at 25%, Santander, Galicia and BBVA at 23%, ICBC at 24.8% and Banco Ciudad at 21% for 30‑day deposits.
  • The system average for 30‑day rates sits around 25% TNA, slightly below the roughly 26% level reported last week.
  • Smaller banks and financial firms list 30–33% TNA for online placements to non‑clients, including Banco CMF, Banco Voii and Crédito Regional at 33%, Meridian at 32% and BICA at 31%.
  • Banks commonly pay more for digital placements than for in‑branch operations, with a simulator showing 25% TNA online versus 20.5% in person for a 30‑day deposit.
  • Plazo fijo remains a low‑risk, predictable option that guarantees a known nominal return over 30 days, though current yields often trail inflation.