According to the latest survey, various financial entities are offering more attractive rates than bank deposits in order to mitigate the impact of inflation. Since May, banks have been operating with new rates, some well below 40% compared to the 110% they offered in early March.
Among the interest rates offered by different banks are: Banco Nación (30%), Banco Santander (27%), Banco Galicia (28%), Banco Macro (31.5%), Banco Patagonia (34%), Banco ICBC (29.3%), Banco Ciudad (28%), Banco Provincia (29%), BBVA (28%), HSBC (28%), Banco Supervielle (33.5%), Banco Comafi (29%), Ualá (40% at 30 days) and Banco Columbia (35%).
Virtual wallets have stood out by offering returns higher than fixed-term deposits. A study by the Argentine Chamber of Investment Funds highlighted the best interest rates offered by these electronic wallets, surpassing traditional banks. These virtual wallets are based on the Reference Stabilization Coefficient (CER), linked to increases in the Consumer Price Index (CPI).
The Central Bank decided to reduce rates to 40% in May, allowing investors to access their capital between 3 and 180 days, depending on the entity they invest in. With the projection of a continuous cut in interest rates, savers are exploring new investment options, such as virtual wallets.
Some of the applications noted for their returns are: Cocos Pay (35.25%), Ualá (35% up to $750,000 deposited), Naranja X (31% up to $600,000), Personal Pay (31.40%), Mercado Pago (28.89%), Prex (29.96%) and Claro Pay (28.90%). In this context, the UVA fixed term (Units of Purchasing Value) presents itself as an alternative for investment and savings protected against inflation in Argentina.
