Term deposit or savings account?
Posted: Tue Jan 07, 2025 10:24 am
Do you have capital and don't know what investment to make? Your financial options can be summarized between taking out a term deposit or opening a savings account.
In comparative terms only, time deposits in soles generated an average return of 4.68% in the last 12 months (April 2011-2012), according to the monthly report by MC&F Consultores .
In the same period, savings accounts multiplied their money by just 1.01%.
In both cases, the options can be in changsha number screening soles due to the fall in the dollar that has been taking place in the country for two or three years. Therefore, a first piece of advice from personal finance experts is to focus your attention, for now, on the local currency .
MORE OR LESS The director of the Administration and Finance Degree at UPC , Paúl Lira, recommends opting for a savings account as long as you have no intention of having cash available for a reasonable period.
While "with a savings account you can access your money whenever you want and pay less interest because of that convenience, with deposits you commit to keeping your capital for a certain period of time, which means you gain a certain margin," Lira said.
Juan José Marthans, professor of Economics at the PAD of the School of Management of the University of Piura , suggests saving your money in a term deposit .
"If you already have money saved, withdraw it and put it in a term deposit. One option could be the Municipal Savings Banks, because they offer the most profitable rate on the market," said Marthans.
In comparative terms only, time deposits in soles generated an average return of 4.68% in the last 12 months (April 2011-2012), according to the monthly report by MC&F Consultores .
In the same period, savings accounts multiplied their money by just 1.01%.
In both cases, the options can be in changsha number screening soles due to the fall in the dollar that has been taking place in the country for two or three years. Therefore, a first piece of advice from personal finance experts is to focus your attention, for now, on the local currency .
MORE OR LESS The director of the Administration and Finance Degree at UPC , Paúl Lira, recommends opting for a savings account as long as you have no intention of having cash available for a reasonable period.
While "with a savings account you can access your money whenever you want and pay less interest because of that convenience, with deposits you commit to keeping your capital for a certain period of time, which means you gain a certain margin," Lira said.
Juan José Marthans, professor of Economics at the PAD of the School of Management of the University of Piura , suggests saving your money in a term deposit .
"If you already have money saved, withdraw it and put it in a term deposit. One option could be the Municipal Savings Banks, because they offer the most profitable rate on the market," said Marthans.