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Best Fixed-Term Deposits in Peru 2026 2026

Peru offers competitive fixed-term deposit products at both banks and municipal and rural savings institutions (cajas). Municipal cajas tend to offer the highest market rates — Caja Arequipa reaches 5% TEA — while major banks like Interbank and BBVA offer better digital accessibility with somewhat lower rates. Deposits are protected by the Fondo de Seguro de Depósitos (FSD) up to S/ 116,700 per person per institution. APYData compares all options available in Peruvian soles.

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Best term deposits in Peru in 2026

Peru offers a stable banking system with deposits in both Peruvian soles (PEN) and US dollars (USD) — a unique feature of its dual-currency economy. The Banco Central de Reserva del Perú (BCRP) sets monetary policy, and deposit rates have been competitive in recent years in both currencies.

Deposits in soles vs in dollars

Choosing between PEN and USD is a strategic decision for Peruvian savers:

  • Sol deposits — higher nominal rates (generally 1–2 points above USD), but exposed to sol depreciation against the dollar.
  • Dollar deposits — lower rates but natural hedge if you have USD expenses or income. Very popular with businesses and families with international ties.

Deposit guarantee in Peru

Peruvian deposits are protected by the Fondo de Seguro de Depósitos (FSD), managed by the SBS (Superintendency of Banking, Insurance and AFP). Coverage in 2026 is approximately 120,000 soles per depositor per institution (revised quarterly based on the Consumer Price Index). Applies to both sol and dollar deposits.

Leading institutions for term deposits

  • BCP (Banco de Crédito del Perú) — largest bank in the country, extensive national coverage.
  • BBVA Perú — strong presence, competitive rates on term deposits.
  • Interbank — digital innovation, good app for deposit management.
  • Cajas and financieras — Caja Arequipa, CMAC Cusco and other municipal savings banks frequently offer the highest market rates, with FSD coverage.

Types of savings products

  1. Fixed-term deposit (DPF) — equivalent to the Colombian CDT. Terms from 30 days.
  2. Savings account — instant liquidity, variable rate. Digital banks offer up to 5% in USD.
  3. CTS (Severance Fund) — exclusive to employed workers, exempt from withholding up to a certain limit.

Tax treatment of bank interest in Peru

Bank deposit interest is exempt from Income Tax for natural persons resident in Peru, making them even more attractive from a tax perspective. This exemption has been a deliberate policy to encourage formal savings within the financial system.

Frequently asked questions
What is the difference between a bank and a caja in Peru?
Municipal and rural cajas are SBS-supervised financial institutions focused on microfinance and SMEs. They tend to offer higher deposit rates than commercial banks. FSD protection applies equally: up to S/ 116,700 per depositor per institution.
Are deposits at Peruvian cajas safe?
Yes. Municipal cajas are regulated and supervised by the SBS (Superintendencia de Banca y Seguros) and their deposits are covered by the FSD up to S/ 116,700 per depositor per institution. The amount is updated quarterly.
What is the best option for deposits in Peru?
Caja Arequipa offers the best rate among regulated institutions (5% TEA). Banco Falabella reaches 6.5% TREA but requires salary domiciliation. Interbank is the best digital option in traditional banking at 4.25% TEA. If you prioritise rate, go with cajas; if you prioritise digital convenience, choose Interbank.
Methodology & sources

APYData aggregates rates and yields from official sources: the European Central Bank, national treasuries (bonds & T-bills), the Spanish Deposit Guarantee Fund (FGD) and banks’ official rates. Figures are updated automatically. (how it works · about us)

· Published by APYData

Cite this page: “Best Fixed-Term Deposits in Peru 2026 2026”, APYData — https://apydata.com/en/best-deposits-peru