Starting in July, Banco Nación will begin to pay interest on savings accounts in dollars up to a limit of US$10,000. The measure aims to compete with private banks and fintechs that already offer similar benefits.
The initiative is part of a broader strategy to attract foreign currency to the formal financial system.
Banco Nación permitirá pagar servicios sin incluir las tasas municipales
How much does Banco Nación pay for dollar deposits?
Starting July 1, clients who have a savings account in dollars will receive a nominal annual rate (TNA) of 2.1%, up to a limit of US$10,000.
This means that if the balance exceeds that amount, interest is calculated only on the first US$10,000. The crediting is daily and the service is activated automatically, with no need for prior procedures.
How can the money be used?
According to the bank, the funds and the interest caused can be used at any time for purchases, transfers, or withdrawals at branches.
El fin de los "arbolitos".
In addition, those who do not yet have a savings account in dollars can open one for free, 100% digitally from the BNA+ app.
Competition among banks and fintechs for dollars
Banco Nación's initiative adds to those of institutions such as Galicia and Supervielle, which have also recently announced returns on dollar balances. Thus, competition to attract foreign currency is increasing in an increasingly active market.
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Meanwhile, ALyCs and fintechs have been leading with products such as money markets in dollars and mutual funds with returns of up to 4% annually and immediate liquidity.
Why is there an effort to attract dollars to the system?
With this measure, the Government seeks to encourage dollars that are outside the system—the so-called "colchón"—to enter the banks. The goal is to formalize savings and facilitate financing in hard currency for different productive sectors.
In addition, this policy is aligned with the relaunch of fixed-term deposits in dollars already offered by Banco Nación, with competitive rates.
