The day after the Central Bank’s decision (BCRA) lower the monetary policy rate by 10%, Some banks continue to drastically adjust the fixed-term yield offered in pesos downwards.
From March 11 until the news was announced on Thursday, the average interest offered banks for these instruments was around 70%. Quickly, Once the announcement was made, some downward adjustments were seen. This Friday, The trend has continued and at least 8 entities appearing in the Central Bank’s rate comparator already offer a TNA of 60% or less for freezing deposits.
A month ago, the monetary entity’s decision would have meant that the performance of fixed-term terms will become almost uniformly at 5.4% (the reference rate was 80%). But since today there is no longer an obligation for institutions to have a minimum interest rate, the range is wide. Therefore, while some institutions still maintain a nominal annual rate of 70%, others already offer 65, 60 or even less.
It is expected that in the coming days, forward rates will be further adjusted, bringing them approximately 10 points below the reference rate set by the Central Bank.
Reducing the monetary policy rate to 70% per year from the previous 80% is a decision which, according to the body itselftook place as a consequence of the inflationary slowdown. But measured precisely by inflation, the yield on these 30-day peso deposits is between 5.83% and 5%, half of what is estimated to be the March price index (Indec will publish data this Friday).
It is also worth remembering that, upon assuming the current leadership of the BCRA, he ordered a first reduction in the rate (which brought it from 133 to 100% and a second – last month – which brought it to 80 %).
According to the BCRA fare comparator, they are from 71% to 57%Sense between 5.92% and 4.75% respectively for a 30 day deposit.
It should be noted that this reduction in tariffs does not concern the fixed terms already agreed, but rather the new ones.
Bank by bank, what are the rates (for now)
- Creditoop: 60%
- Banco Nación: 65% TNA
- BBVA: 66%
- Macrobank: 68% TNA
- Santander, Galicia, Banco Provincia, HSBC, ICBC and Banco Comafi: 70% TNA
How many pesos do you need to freeze for 30 days to get $50,000 interest?
So, for a fixed period we will leave about $50,000, if the rate is 71% (TNA) and the monthly return is 5.92%a person must deposit approximately $850,000.
If, however, the rate offered is by 65% (TNA), or 5.41% monthly, the silver to invest in this instrument must increase at $930,000.
In the case of putting the money in an institution that gives the 60% (TNA), the huge sum of $1,000,000 to get 5%, or $50,000.
About $60,000 more Regarding the previous example, if the TNA offered by the entity is 57% or 4.75% for 30 days for these placements.
What are the best performing virtual wallets?
According to a survey by the Argentine Chamber of Investment Funds, some e-wallets offer better interest rates.
- Uala: 75%
- Prex: 73.18%
- Personal salary: from 72.6% to 79% (depending on the amount)
- coconuts: 71%
- Payments market: 69.7%
SN
Source: Clarin
