Fixed Term Deposits: Interest Rates Bank by Bank This Tuesday, August 11

Argentine savers looking to protect their purchasing power have a new set of interest rates to consider for their fixed-term deposits. On Tuesday, August 11, the Central Bank of the Republic of Argentina (BCRA) released a comparative table detailing the interest percentages offered by different banks for 30-day peso deposits.

The BCRA, led by Santiago Bausili, determines the nation's monetary policy and now provides this transparency for depositors. The published rates cover the ten banks with the largest deposit volumes, as well as those that have reported rates for non-clients. This allows individuals to use their bank's home banking service for deposits or to visit a chosen bank's website if they are not yet a customer.

Establishing a fixed-term deposit is presented as a cost-free process for users, requiring no paperwork or complex procedures. This ease of access is a key feature highlighted by the BCRA.

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This table includes the ten banks with the largest deposit volume and also includes banks that reported the offered rate to non-clients.

It is important to recall that in 2024, the BCRA removed minimum interest rate requirements for peso fixed-term deposits. Consequently, the profit percentage for clients is now entirely at the discretion of each banking institution. This deregulation means that the rates offered can vary significantly between banks, making comparison essential for savers.

The article provides a list of state-owned and private banks with their respective interest rates for 30-day peso fixed-term deposits on August 11. It also notes that some banks offer online fixed-term deposit rates for non-clients, further expanding options for potential investors.

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free of charge for users, without paperwork or other procedures.