If you want your savings to increase in a year, it is necessary to know which financial institution offers you the best benefit. With the little-known tool that we will show you below you can make the best decision regarding your money.
The Superintendency of Banking, Insurance and AFP (S.B.S.) is the Peruvian body that, among its functions, is to regulate and supervise banks, municipal and financial savings banks. Currently, there are 18 in Peruvian territory. banks8 financial, 12 municipal savings banks and 5 rural savings banks.
In order to contribute to the financial education of Peruvians, the entity has launched a tool that seeks to provide more details about the Fixed deadlines in soles, dollars, CTS and savings of individuals.
What is the free SBS tool?
As indicated by the SBS, this tool will allow you to identify the prices of the main financial products and choose them in an informed manner. However, it is important to emphasize that the information obtained in the application is referential, so for detailed information you must contact the entity of your choice.
To access the ‘Cost and Performance of Financial Products’ tool you must click on the following link.
This is what the SBS fixed-term and CTS tool looks like. Photo: screenshot
How to use the free SBS tool?
To use it it is very simple. You will only have to follow four simple steps.
- Locate your region in which you are located: Lima, Áncash, Ucayali, etc.
- Choose the deposit operation.
- Select the product you want to choose: Savings for individuals, CTS, fixed term in soles, fixed term in dollars.
- Now, indicate the amount and term that fits your conditions and that’s it, click to consult.
A comparative table should appear with all the entities and their annual effective rate of return (ERR) (%). The TREA is the rate that shows the total return on a deposit.
Comparative table with all financial entities and the TREA of each one. Photo: screenshot
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.
