With the payment of the gratification, many citizens will have extra income that can be used to pay off debts, recreation, investment or savings. In this scenario, the option of fixed-term deposits begins to gain relevance due to the high interest rates that banks and municipal savings and credit banks (CMAC) are offering.
“To take a deposit, an investment insurance or a mutual fund, the first thing is to take into account the risk profile. That is, if you are not willing to face short-term volatilities or losses in your capital, you are a conservative profile, then the term deposit or guaranteed rate investment insurance is suitable for you,” Javier Gamboa, manager of Financial Insurance and Pensions at Rimac Seguros, told La República.
To date, there are many interest options that go according to different time periods, from a minimum of 30 days, annual and greater than 360 days. According to updated information from the Superintendency of Banking, Insurance and AFP (SBS)for July 21, the highest average interest rate for individuals and legal entities in the banks presents it My bank with 8.45%, followed by the GNB bank with 8.40% and Pichincha with 8.34%. (See chart)
On the other hand, in relation to the boxes, the highest rate is reported by Caja Piura, which reaches 8.56%, followed by Caja Ica (8.55%) and Caja Maynas (8.41%).
Which banks pay more interest for a fixed-term deposit in July?
Review the average interest rates for natural and legal persons of banks as of July 21, 2023.
| Financial entity | term deposits |
| BBVA | 7.49% |
| Trade | 4.97% |
| BCP | 7.72% |
| pichincha | 8.34% |
| BIF | 7.99% |
| Scotiabank | 7.67% |
| Citibank | 8.19% |
| Interbank | 7.70% |
| My bank | 8.45% |
| GNB | 8.40% |
| falabella | 7.79% |
| Santander | 6.32% |
| Ripley | 8.12% |
| Finally | 7.09% |
| ICBC | 7.08% |
| Bank of China | 7.68% |
| BCI | 7.78% |
Which municipal savings banks pay more interest for a fixed-term deposit in July?
Find out the average interest rates for natural and legal persons of municipal savings and credit banks as of July 21, 2023.
| Financial entity | Term Deposits |
| CMAC Arequipa | 8.34% |
| CMAC Cusco | 6.30% |
| Santa’s CMAC | 6.04% |
| CMAC Huancayo | 7.11% |
| CMAC Ica | 8.55% |
| CMAC Maynas | 8.41% |
| CMAC Paita | 6.76% |
| CMAC Piura | 8.56% |
| CMAC Sullana | 8.03% |
| CMAC Tacna | 6.48% |
| CMAC Trujillo | 6.59% |
| CMCP Lima | 8.20% |
It should be noted that the specialist recommends betting on longer term rates to take advantage of the current high rates. “Interest rates may begin to fall and what is recommended are alternatives to longer terms, of three, five or ten years, to be able to anchor rates that are currently high for long periods,” Gamboa said.
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.
