Where should I deposit my salary and savings?
Posted: Tue Jan 07, 2025 3:45 am
Banks and municipal savings banks offer different interest rates for each financial product.
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PERU21 Editorial
Update Date
08/26/2019 - 10:01
José Carlos Reyes People usually have two types of funds, one that will be used for current expenses each month and a second, in case their income exceeds their expenses, which could be saved.
Where to deposit money in both cases? In the first case, financial institutions have become more widely available with the so-called Salary Account, a product where users can receive their salary and carry out frequent transactions.
They do not charge maintenance, but jamaica number screening as with all savings accounts, they offer a minimum interest rate that varies between 0.5% and 2.5% per year, says Marcello Mundaca, Risk Manager of the
Opting for a salary account at a bank is the best alternative, he says. "They have more branches and ATMs to carry out transactions than other types of financial institutions and they offer additional benefits such as access to credit, discounts on purchases, raffles, etc.," he says.
Mundaca notes that in order to attract more customers, some banks even return a percentage of the consumption made.
"This is the case of Citibank, which returns up to 50% of monthly consumption, with a maximum of S/.100. In general, banks seek to attract more workers in this way in order to later offer them other products," he says.
TERM DEPOSITS In the case of funds that can be saved for a minimum period of time, the recommendation is to make a fixed-term deposit in a municipal or financial bank, advises Mundaca.
"In these entities, interest rates are higher and vary between 4% and 9%. It depends on the amount and the term, it can be for a minimum of 90 days," he says.
However, always check that the entity has a Deposit Insurance Fund, says Mundaca.
Image
PERU21 Editorial
Update Date
08/26/2019 - 10:01
José Carlos Reyes People usually have two types of funds, one that will be used for current expenses each month and a second, in case their income exceeds their expenses, which could be saved.
Where to deposit money in both cases? In the first case, financial institutions have become more widely available with the so-called Salary Account, a product where users can receive their salary and carry out frequent transactions.
They do not charge maintenance, but jamaica number screening as with all savings accounts, they offer a minimum interest rate that varies between 0.5% and 2.5% per year, says Marcello Mundaca, Risk Manager of the
Opting for a salary account at a bank is the best alternative, he says. "They have more branches and ATMs to carry out transactions than other types of financial institutions and they offer additional benefits such as access to credit, discounts on purchases, raffles, etc.," he says.
Mundaca notes that in order to attract more customers, some banks even return a percentage of the consumption made.
"This is the case of Citibank, which returns up to 50% of monthly consumption, with a maximum of S/.100. In general, banks seek to attract more workers in this way in order to later offer them other products," he says.
TERM DEPOSITS In the case of funds that can be saved for a minimum period of time, the recommendation is to make a fixed-term deposit in a municipal or financial bank, advises Mundaca.
"In these entities, interest rates are higher and vary between 4% and 9%. It depends on the amount and the term, it can be for a minimum of 90 days," he says.
However, always check that the entity has a Deposit Insurance Fund, says Mundaca.