With inflation still high – despite the February Indec data released yesterday placing it at 13.2% -, with prices rising and salaries insufficient, Argentinians are trying to find a way to earn the few pesos that “are left”. And between conservative options always appear fixed terms.
In this regard, on Monday the Government announced a reduction in the reference rate – from 100% to 80% -, and the eliminationalso of minimum performance that the the banks had to pay for freezing peso deposits.
Until March 11th all the banks paid 110% nominal annual (TNA) for these types of placements.
In practical terms, banks were no longer required to offer a minimum monthly return of 9.1% as it had been until now.
After the announcement, banks implemented a sharp reduction in interest rates on these deposits. The banks that now pay the most on a fixed-term basis are: Credicoop, which has a TNA of 80%, followed by Nación, Provincia, BBVA, Macro and Ciudad with 75%. The lowest payer does so at a rate of 70%.
The difference is made by the virtual Ualá, 90%, which for a fixed period of 30 days provides a rate of 7.5%.
- Credicoop Bank80% TNA: for a fixed period of 30 days the interest paid by the institution will be 6.66%
- National Bank, Province, BBVA, MacrosAND City TNA 75%: i.e. for a 30 day deposit offers a 6.25% interest.
- Comafi TNA 73.5%
- ICBC, Galicia, Santander AND HSBCTNA 70%: Pays 5.83% for a one-month placement.
To freeze 30 days a deposit of $100,000 with a TNA of 80%the interested party will receive an interest of $6,660.
So, by forming a fixed term in entities offering a 75% TNA, the interest that will be received will be $100,000 will be $6,164completed the month.
By depositing the same sum in a bank that pays an annual rate of 73.5%, the interest it will generate will be of $6,125.
SN
Source: Clarin
