Wednesday, 02 December, 2020

Is it safe to save on a Term Deposit in 2019?


If we talk about options to grow savings, one of the most popular instruments is Fixed Term Deposits. Although they are not the only ones, because you also have shares, mutual funds and others, it is definitely an option that should be explored, especially if your interest is to know in advance how much you will receive for that money.

Most profitable investment instruments

Most profitable investment instruments

In 2018, Term Deposits in dollars closed as the most profitable investment instruments, because due to the rise in the dollar, passing the amounts to soles, savers earned higher profits.

For this 2019, the interests that you can get with a term deposit will vary depending on the entity you choose, especially taking into account that many times the savings banks and financial institutions have more attractive conditions than the banks.

You can get an interest rate

You can get an interest rate

For example, according to Good Finance’s DPF comparator, if you have ten thousand soles, you can get an interest rate of 7%, generating 700 soles of interest in 360 days at the Fondesurco cooperative. In the other options, accounts with rates of 6.5%, 5.6%, etc. In addition, something you should keep in mind is that the higher the amount to be deposited, the more interest it will generate because you will be able to access better rates.

Another point that you should be clear about

Another point that you should be clear about

Is that the money will not be able to leave that account until the deadline is met, in order to get interest, so it is necessary to be sure not to complicate your budget and not need that amount during this period.

One of the aspects that calls people the most about DPFs is that it is a safe option, where there is no room for changes in rates or losses, since the contract that is signed, where all the conditions are established, It is respected from beginning to end.

0 comments on “Is it safe to save on a Term Deposit in 2019?

Leave a Reply

Your email address will not be published. Required fields are marked *