Overview
- Banco Provincia relaunched its Cuenta UVA savings account under its Baño de inversión campaign as an option to shield pesos from price rises.
- Deposits convert to inflation units called UVA that follow the CER index based on INDEC’s CPI, and withdrawals reconvert to pesos at the prevailing UVA value.
- Money must remain for the first 90 days, then the balance becomes usable like a regular account with debit card payments, transfers, and ATM cash.
- The account pays a 0.05% annual rate, has no opening or maintenance fees, and can be opened online with a DNI.
- With April CPI at 2.6% and 32.4% year over year per INDEC, and interest rates falling, analysts frame it as capital preservation versus a stricter UVA time deposit that pays about 1% more.