Fixed-term deposits are flying: How much can you earn with $1,100,000 for 30 days at Banco Nación?

Fixed-term deposits in pesos returned to the spotlight after the Central Bank of Argentina (BCRA) raised interest rates. The measure had a direct impact on banks, which adjusted their yields and created new options for savers.

In this context, those looking to invest $1,100,000 for 30 days find significant differences between the alternatives offered by Banco Nación and those offered by other financial institutions.

Setting up a fixed-term deposit at Banco Nación for $1,100,000 for 30 days generates different interest rates depending on the channel used.

In branch , the APR is 27.50% and the EAR is 31.25% , resulting in a profit of $26,671.23 and a total of $1,126,671.23. Electronically , the APR rises to 34.50% and the EAR to 40.52%, bringing the interest to $39,780.82 and the final amount to $1,139,780.82.

image

In addition to Banco Nación, other financial institutions offer higher rates for fixed-term deposits in pesos. This translates to a 30-day investment of $1,100,000:

• Banco Santander Argentina SA : 38% → $34,833.33
• Banco Galicia y Buenos Aires SA : 45% → $41,250.00
• Bank of the Province of Buenos Aires : 43% → $39,416.67
• Banco BBVA Argentina SA : 43% → $39,416.67
• Banco Macro SA : 45% → $41,250.00
• Credicoop Cooperative Limited Bank : 44% → $40,333.33
• ICBC Argentina : 46.3% → $42,491.67
• Banco Ciudad de Buenos Aires : 35% → $32,083.33
• Banco BICA SA : 45% → $41,250.00
• Banco CMF SA : 50% → $45,833.33
• Banco Comafi SA : 46.5% → $42,625.00
• Banco de Corrientes SA : 46% → $42,166.67
• Banco de Córdoba SA : 48.5% → $44,458.33

Loans

Freepik

• Banco del Chubut SA : 39.5% → $36,208.33
• Banco del Sol SA : 47% → $43,083.33
• Banco Dino SA : 42% → $38,500.00
• Banco Hipotecario SA : 45.5% → $41,708.33 / 48.5% → $44,458.33
• Banco Julio SA : 38% → $34,833.33
• Banco Mariva SA : 47% → $43,083.33
• Banco Masventas SA : 25% → $22,916.67
• Banco Meridian SA : 49% → $44,916.67
• Bank of the Province of Tierra del Fuego : 49% → $44,916.67
• Banco VOII SA : 49% → $44,916.67
• BiBank SA : 42% → $38,500.00
• Regional Credit Company Financial SAU : 48% → $44,000.00
• REBA Financial Company SA : 48% → $44,000.00

The comparison shows that returns can vary by more than $20,000 in a month depending on the bank chosen, so prior analysis is key when deciding where to invest.