Have you ever wondered what happens if the bank to which you have entrusted your savings declare bankruptcy? It is necessary to know that there is a Deposit Insurance Fund (FSD), which is a financial backing in case the entity is declared in a state of dissolution and liquidation. Can you get all your deposited […]
Tag: municipal boxes
Municipal savings banks would occupy 15% of the financial market
The participation of the municipal boxes in the financial market would experience a considerable increase in the next 5 years and would reach up to 15% after the recent approval —by insistence— in Congress, of the law that authorizes these entities to issue credit cards, foresees Jorge Solís, president of the Peruvian Federation of Municipal […]
Financial market: participation of municipal savings banks would reach 15% in the next 5 years
The approval at the insistence of thea Law to strengthen municipal savings and credit banks to promote competition for the benefit of consumers by the Congress of the Republic promote the participation of these entities in the financial marketmaintains the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC). “The balance of this regulation that […]
Four municipal savings banks would have their credit cards ready this year
Five municipal savings banks would launch their first consumer credit card in the second half of 2023, once the regulation of the law approved by insistence in the Congress of the Republic is made official and drafted, which will allow them to access this type of market today covered only by banks. As detailed by […]
Credit cards from savings banks: how much will your interest rate be compared to that of the banks?
The Congress of the Republic approved by insistence, on Friday, March 3, the law that allows municipal savings banks to issue credit cards without the express authorization of the Superintendence of Banking, Insurance and AFP (SBS). The initiative authorize that you are financial entities manage and manage up to four products: credit cards, checking accounts, […]
Municipal savings banks will offer credit cards with rates from 24%
Highest offer. Nine microfinance institutions already meet the requirements to issue this financial product. Law approved by insistence seeks to break the dominance of large banks. The approval by insistence of the law that will allow municipal savings banks to offer credit cards without the express authorization of the Superintendency of Banking and Insurance (SBS) […]
Municipal savings banks may issue credit cards without authorization from the SBS
Plenary session of Congress approved by insistence projects that strengthen savings banks. The Congress of the Republic approved this Friday – by insistence – a law that strengthens municipal savings banks, with which they will allow them to issue credit cards without authorization from the Superintendency of Banking, Insurance and AFP (SBS). The text — […]
Transfers between Yape and Plin will have no cost
Since the end of March. For payments between the two digital wallets, only the exchange of numbers will be necessary. In October of last year, the Central Reserve Bank of Peru (BCRP) published the interoperability regulation that requires digital wallets to operate with each other for the benefit of users. In a first stage, Yape […]
Term deposits grow by 23.7% due to higher profitability
Preference. Financial institutions offer interest rates of up to 9% per year. Meanwhile, CTS funds have been reduced by almost 32% since the free availability was authorized. Due to the free availability of compensation funds for time of service (CTS) until December 31, 2023, authorized by the Congress of the republic, This product is no […]
Fixed-term deposits: which banks and municipal savings banks offer the best rates for my money this 2023?
Find out which financial entities remunerate your savings best in installments so that you can choose the most attractive financial option for your profitability. Given the possibility of a new withdrawal from the pension fund of the AFPs, proposed from the Congress of the republicmany Peruvians usually take advantage of saving them in term deposits […]