Rates for fixed-term deposits can reach up to 10%

Despite the national and international situation, the fixed-term deposit continues to be the financial product that offers the most attractive interest rates and that could gradually reach 10%, according to Arturo García, professor of Finance from ESAN Graduate School of Business.

The specialist refers that since the inflation began to rise, from mid-2021, the central banks in the world began to raise their reference rates as part of the monetary policy to alleviate the rise in prices. The Central Reserve Bank of Peru (BCRP) it has done the same, although in recent months it has been raising the reference rate by only 0.25%; the last time was this Thursday, January 12, and it reached 7.75%.

“Of course rates could be as high as 10%but it will be gradual throughout the year,” said García.

According to official information from the Superintendence of Banking, Insurance and AFP (SBS), the entities that offer the rates The highest for amounts from S/500 are Financiera OH (8.25%), Caja Rural de Ahorro y Crédito Los Andes (7.8%) and Banco Ripley (7.5%).

However, it must be taken into consideration that the entities also have campaigns that offer more competitive rates, but have a limited term of validity.

Caja Piura offers 9.25% for deposits from S/500 for 1,080 days; Caja Huancayo, Caja Trujillo and Caja Arequipa offer up to 8.75%, but the amounts vary between S/500 and S/1,000. In addition, there are two financial companies that offer high rates, although for amounts from S/100,000: Compartamos Financiera (9%) and Financiera Confianza (8.25%), according to the entities’ websites.

How to take advantage of high rates

If you already have a term deposit account, it is already frozen at the contract rate. However, Garcia recommends that If you have new savings, you can place the money in different terms, amounts, currencies and even different entities. “The principle of diversification must prevail,” he says.