Chileans looking to make themost of their savings in 2026 have two main options: traditional bank time deposits (DAP) and new digital accounts like Mercado Pago Chile. They have very different features—we’ll explain which one is best for each situation.
Direct Comparison (February 2026)
| Product | Annual Rate | Liquidity | Guarantee |
|---|---|---|---|
| Mercado Pago Chile | ~8.00% | Daily | BICE Mutual Fund |
| Banco Consorcio (savings account) | ~5.50% | Immediate | State guarantee UF 108 |
| Banco Internacional (DAP 30d) | ~4.80% | At maturity | State guarantee UF 108 |
Mercado Pago Chile: the highest rate but without a bank guarantee
Mercado Pago Chile invests your money in a mutual fund managed by BICE AGF, generating a variable annual return of approximately 8%. The money is available every day, and returns are accrued daily in your account.
Key point to understand: this is not a bank deposit. It is an investment in a mutual fund, so the state deposit guarantee (UF 108) does not apply. The principal is not 100% guaranteed—although in short-term fixed-income funds, historical risk is very low. The CMF regulates and supervises BICE AGF.
Bank Time Deposits (DAP): Lower Rate, Maximum Security
Bank Time Deposits (DAP) offer lower rates (~4.8%–5.5% annually) but come with a government guarantee up to UF 108 (~CLP 4 million). This means that even if the bank goes bankrupt, the government will reimburse your money up to that limit.
Banco Internacional and Banco Consorcio lead the interest rate rankings among Chilean DAPs in 2026, offering up to 0.40% monthly.
Which one should you choose?
- Maximum security with a government guarantee: DAP at Banco Internacional or Banco Consorcio
- Higher returns with daily liquidity: Mercado Pago Chile (~8%, no state guarantee)
- Emergency fund you don’t want to tie up: Banco Consorcio savings account or Mercado Pago
- Capital you won’t need for 30+ days: DAP with automatic renewal
Check the updated ranking of deposits in Chile to compare all options with real-time rates.