Under Communication A 6871, the Board of the BCRA issued a new financial instrument that offers an attractive alternative for savings in pesos, adjusted by the evolution of prices, at a positive real interest rate, and with an early termination option.
This new instrument offers an interest rate that will not be lower than UVA + 1% annual percentage rate for 90-day deposits in pesos. It also offers an early termination option, effective as from 30 days, with a yield similar to that of traditional time deposits.
The early payment interest rate will be fixed when making the time deposit. This rate will be published daily in the BCRA’s website under Main Variables.
As from February 1, 2020, all banks must offer this new time deposit either in person or through electronic channels.
