The BCRA has started to publish a table to compare time deposit interest rates. Banks will keep such table updated. This tool will allow financial users to make online time deposits at any bank—regardless of whether they are clients or not—free of charge and with no other prior administrative requirement.
This comparison table is in line with Communication A 6667, issued by the BCRA on April 5 with the aim of offering more options for users to bring their savings into the financial system and encourage competition among banks.
Banks will resort to the Reporting System to enter the information on the table regarding the annual percentage rate on ARS100,000 time deposits in pesos for up to 30 days.
