Argentine financial institutions update interest rates for October

Financial institutions in Argentina have updated their interest rates for October, offering various options for personal loans, fixed-term deposits, and digital wallets.

For personal loans, significant variations exist between banks. Financial experts recommend evaluating the Total Effective Annual Financial Cost (CFTEA) to understand the true cost of credit. Banks such as Galicia, Nación, Macro, Ciudad, Santander, Patagonia, Bancor, Banco del Chubut, and Hipotecario are among those offering different credit lines.

Regarding savings and investments, digital wallets and remunerated accounts are providing returns near a 20% Nominal Annual Rate (TNA). Brubank offers a TNA of 23% for its Ultra Plan, while Naranja X and Carrefour Banco report 20%. Other platforms like Ualá and Montemar Pay offer 19%, and Supervielle provides 14%.

For those preferring fixed-term deposits (plazos fijos), Banco Macro leads with a 21% TNA. Other traditional banks include Banco Hipotecario at 19.5%, Banco Nación at 19.25%, BBVA at 19%, Banco Credicoop at 18.5%, Banco Galicia at 18.25%, and ICBC at 18.1%.