The extraordinary withdrawal from the AFPs is being taken advantage of by thousands of Peruvians. According to official data, until May of this year, nearly 300 thousand applications were processed, giving savers the possibility of obtaining up to one UIT, equivalent to S/5,150 during the first delivery.
According to several experts, this Extra money It can be used depending on the needs of the person, whether it is to pay off a debt, invest in a business, among others. If you still don’t know what to do with your money, one option within the range of opportunities is to place it in an account fixed term.
A fixed-term deposit is a type of savings offered by financial institutions, where a person deposits an amount of money for a certain period in exchange for receiving interest at the end of the term. During the agreed period, the money cannot be withdrawn.
This form of investment is safe and predictable, since the interest offered is known from the beginning and is not subject to market fluctuations, providing the depositor with a fixed and stable return. Below, we present which banks or financial institutions offer the best rate, according to the Superintendency of Banking, Insurance and AFP (SBS).
What is the EAR and why is it important in a fixed-term deposit?
Before providing more details about fixed-term deposits, it is necessary to point out that it is the Annual Effective Rate (AER)This indicator, in addition to other factors, indicates how much the person will earn by leaving their money in this type of account. It is a tool expressed in annual terms, which allows different financial products to be compared in a uniform and precise manner, helping consumers to make informed decisions about their investments or loans.
Term Deposit: This is what you would earn if you deposit S/5,000 from your AFP withdrawal
In case you do not know how to dispose of the money you withdrew or you simply want to place it in a fund that generates secure profitabilitya fixed-term deposit is an option. It should be noted that, once this money is capitalized in these accounts, you will not be able to use it for a period of one year.
For this example, the following values were considered:
- Fund to be deposited: S/5,000
- Fixed-term savings period: 1 year or 365 days
| ENTITY | TORCH | REVENUE |
| EFFECTIVE FINANCIAL | 6.50% | S/325 |
| RIPLEY BANK | 5.75% | |
| S/287.50 | OH FINANCIAL | 5.85% |
| S/292.50 | SCOTIABANK PERU (6 months) | 8% |
| S/400 | FALABELLA BANK | |
| 5.25% | S/262.5 | LIMA METROPOLITAN BANK |
| 3.80% | S/192.63 | QAPAQ FINANCIAL |
| 3.50% | S/175 | SULLANA BOX |
3.90%
194.99
Promotional amount. Indicators as of 07/04/2024 What is the Deposit Insurance Fund in Peru?
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.
