To achieve the same gain, the investment would amount to approximately $12,750,000. Finally, Banco de Formosa presents the lowest rate on the market, at a "30% annual rate", which translates to a monthly interest of around 2.5%, requiring a deposit of about $13,600,000 to get the $340,000. The BCRA publishes a daily online comparative table of 30-day fixed deposit rates with information from different banks in the country, which facilitates real-time consultation of the best investment options based on the performance offered. Ranking of interest rates for fixed deposits. As of this Friday, the rates in the banks with the highest volume of deposits were as follows: ICBC: offers a TNA of 35.3%. Banco Nación: its TNA is positioned at 35%. Banco Macro: presents a TNA of 34%. Banco Credicoop: offers a performance of 33%. Banco Ciudad and BBVA Argentina: both register a TNA of 32%. Banco Provincia de Buenos Aires and Banco Galicia: both entities have a TNA of 31%. Santander Argentina: is at the lower end of this group with 29%. With that performance, to obtain $340,000 in one month, the necessary investment would be around "$8,870,000". On the other hand, in the case of BBVA Argentina, which previously offered a TNA of 40%, the current rate is at a "32% annual rate", which is equivalent to a monthly performance of 2.67%. Banks that allow investment without requiring to be a client, such as Banco Meridian and Crédito Regional Compañía Financiera, currently offer the highest rates, close to "46% annual rate". After a week of high market volatility following the legislative elections, fixed deposit rates have undergone changes, although with a suitable investment, the monthly gain continues to outpace inflation. According to the report issued by the Central Bank of the Argentine Republic (BCRA), most financial institutions proceeded to lower their returns in recent days. However, there are entities that offer higher returns, suggesting the convenience of comparing all available options before making an investment. Regarding the investment needed to reach a certain amount, the Banco Nación's fixed deposit simulator indicates that to obtain $340,000 in 30 days, it would be necessary to "invest approximately $11 million". In this way, at the end of the month, the total credited would amount to about $11,340,000, adding the initial capital and the interest generated. In this specific case, since the required investment is "high", the rate slightly increases to 37.5%, but this condition applies "only to fixed deposits made online". By way of example, at Banco Nación, the reference Annual Nominal Rate (TNA) fell "from 44% to 35%". Monthly, the interest is at 2.91%, a percentage that is "just above the September inflation reported by INDEC". In the event that the operation is carried out in person at the teller, the TNA is reduced to 30.5%, which would force investing a higher amount to achieve the same gain. There are other alternatives in the market with different returns.
