The municipal savings banks expect to capture around S/21,000 million in fixed-term deposits this 2022, according to the projection of the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac).
Considering that more than 4 million workers will receive their gratuities and taking into account the current social and economic context, the fixed-term deposit becomes the first option to save and find profitability in the medium term.
OH Financial offers an effective annual rate of return (TREA) of 8.25%, it is followed by Caja Los Andes (7.8%) and Banco Ripley (7.5%), according to the official information that these entities provide to the Superintendency of Banking, Insurance and AFP (SBS).
However, the municipal boxes They offer the most attractive rates per campaign, thus we have Caja Piura with 9.25%, with deposits from S/500 with a term of no less than 1,080 days, there are also Caja Arequipa and Caja Huancayo, which offer up to 8.75% for amounts from S/500 and a term between 541 days and 720 days. These campaigns are valid until December 31 of this year and may vary depending on the availability of money of each entity.
At the end of this year, Caja Piura expects to reach S/ 2,715 million in fixed-term deposits with an accumulated growth of S/ 270 million, which represents 11% compared to 2021, the entity told this newspaper.
Among the benefits offered by this entity to users are that they can withdraw the interest generated at any time, as explained by José Samamé, northern regional manager of Caja Piura.
“The main benefit is the daily capitalization of the interest generated; namely, the interest that the term deposit generates daily generates a new interest for the next day, so our clients not only earn interest on their own capital but also on the same interest that their account generates. They can dispose of your interests at any time and choose the term that best suits them,” Samamé specified.
According to Jorge Solís, president of Fepcmac, in the savings bank system the average interest rate has gone from 3.96% in 2019 to 7.23% in November 2022.
“This is a reaction from the entire financial system due to the need to solarize the portfolios; namely, entities prefer to capture savings in soles than savings in dollars due to the volatility of the currency. The second factor is the need for liquidity,” he told La República.
Likewise, Solís added that the release of AFP funds and the free disposal of the CTS allow for greater competition and for entities to raise rates to capture these funds.
The specialist pointed out that this “is the time when people have to think about saving their resources to be able to alleviate any contingency that comes later”, for this reason, bet now on the fixed term deposits may be the most recommended option.
It should be noted that these rates are not going to last for long. “Starting in July 2023, these will go down,” warned Solís.
Other options to invest the bonus
There are two long-term investments that Jorge Carrillo, a finance expert at Pacífico Business School, recommends not to rule out especially the users who will receive their bonus.
“A property is a good investment to the extent that one lives in a rented house. Because what I spend now on rent I am going to allocate to the mortgage credit, then I am not going to decapitalize much and I am going to acquire a long-term asset,” explains Carrillo.
Secondly, you can choose to set up a business, but the specialist notes that you should carefully evaluate whether it is a business in which you can stand out from the competition, that it is in demand and above all that you like to do.
Carrillo remembers that investing in the purchase of shares, mutual funds or bitcoins are options with a lot of risk nowadays.
Savings are protected up to S/125,603
The SBS updated the maximum coverage amount of the Deposit Insurance Fund (FSD) to S/125,603 for the period December 2022-February 2023.
As a consequence, savings accounts, term deposits and accounts CTS that people have in banks, finance companies, municipal savings and credit banks, as well as rural savings and credit banks, have continued to be protected in excess of S/100,000 for more than 3 years (June 2019), explained Jorge Carrillo Acosta.
Savings and credit cooperatives are not covered by the FSD. However, these entities have created their own insurance, called Cooperative Deposit Insurance Fund (FSDC), whose maximum coverage amount is S/10,000.
Source: Larepublica
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