Banks have reduced interest rates on 30-day fixed-term deposits, making it more expensive for savers to earn the same monthly returns. According to a March 27 announcement, banks cut rates by up to four percentage points in recent days, affecting how much money is required to generate a profit of $200,000 per month.
The amount needed now varies depending on the bank. On average, investors must put in between $8.1 million and over $11.5 million pesos to reach that target income. For example, Banco Nación currently offers an annual rate of 23 percent; under this rate, approximately $10.5 million is necessary to achieve a monthly gain of $200,000.
Major private banks have lowered their annual rates even further than public institutions. Banco Galicia and BBVA Argentina both dropped their annual rate from 23 percent to 21 percent, meaning savers need about $11.56 million pesos for the same return. Banco Santander Argentina decreased its rate from 23 percent to 22 percent annually; with this change, the required investment rises to around $11.03 million pesos.
Some digital or regional banks offer slightly higher yields than larger institutions; at these entities the minimum amount needed drops just above $8 million pesos.
The difference between financial institutions can exceed three million pesos when aiming for identical earnings each month. As a result, comparing options among different banks has become increasingly important for those looking to maximize their savings.
