More than 4 million formal workers in the private sector are receiving the payment corresponding to their gratuity, which adds up to a full salary plus a bonus of 9% for members of EsSalud and 6.75% for those of a health provider company (EPS). . In this context, many wonder what are the main options to take advantage of this extra money.
In this season, the interest rate that entities pay to savers for keeping their money in term deposits is becoming more attractive. According to the portal of the Superintendency of Banking, Insurance and AFP (SBS), in banks it would be on average 6.75% per year, while in savings banks it would be 8.75%. In detail, the BBVA for 365 days maintains a rate of 6.85%, while the BCP of 7.1%, the Banco Falabella 8.41%, among others.
Along these lines, Caja Piura maintains the highest profitability with 9.25% interest for minimum deposits of S/500 for a term of 1,080 days.
Is the gratuity in a fixed-term deposit advisable?
There are many options to invest the free. According to Walter Eyzaguirre, an economist specializing in financial education, 75% should be earmarked for savings and investment and 25% for fun.
“It is recommended that, of 100% of the uses of the bonus, 50% should be used to pay debts, which have a higher interest rate than what they can yield in a fixed term,” Eyzaguirre told La Republic. In this way, he recommends paying credit cards first, personal loans and, finally, mortgage loans.
In this sense, for those who want to move their money, using a fixed-term instrument is more profitable than just keeping it in a savings account. Thus, unlike an investment, such as mutual funds, which represent some risk, deposits are savings from which the money is withdrawn plus the return without loss of capital.
“It is important to have two variables to open a warehouse. You have to consider the deadline. If I am placing one that I am not going to respect, they are going to penalize me with interest. Second, you must be sure of the amount, know if I am sure that I will not need the money and I can open the deposit for a year, “added the specialist.
Recommendations for using a fixed-term deposit
Those who decide to use the money from their bonus for fixed-term deposits should take into account some recommendations, according to the financial institution Bancom.
- Evaluate your financial priorities: Users are advised to know their financial goals. For example, knowing if they require extra income, long-term savings or just avoiding micro-expenses.
- Compare interest rates: Evaluate the rate options for term deposits, therefore it is necessary to compare and determine the best competitive and profitable option.
- Determine the expiration term based on your needs: Deposits are characterized by having a variety of expiration terms, they can be from one or several years. In this sense, if you have excess income and your main goal is to earn profitability, you can maximize financial performance with long-term deposits; On the other hand, if what you want is flexibility and greater immediacy in earning money with the interest generated, the short-term deposit option is better suited.
- Strategically schedule the deadlines for withdrawals: It is essential to plan withdrawals or renewals according to the needs of each person. There is also the possibility of opening several deposits in the same entity for different amounts and terms. Thus, if for some reason you need to withdraw an amount, you only cancel the deposit that you require and the others will continue to maintain their profitability.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
