How safe are my Savings
October 3, 2019
Although there are still those who prefer to keep their money “under the mattress”, Banking in Peru has increased significantly in the last decade. Among the determining factors for this growth are the expansion of the presence of banks, financial institutions and savings banks throughout the country, as well as the development of new services and insurances more in line with the specific needs of people.
But what determines that a person distrusts
Even in these times of the financial system? Among the different factors we can find as a main fear, the possibility of losing those savings together with so much effort, even within the group of banked people there are also the same myths and fears, but this focused on trust in certain financial entities, giving preference to The popularity that gives a name.
Fact that we just check and confirm in our constant interactions with users through the web, where we meet people who, thanks to some comparisons made in the simulators, notice that some boxes and financial companies offer higher returns for their money, but that for Fear of the strength of these entities, they decide to trust their money in more “popular” banks, downplaying the higher rates offered in other types of entities.
All this leads us to the conclusion that there is definitely a great misinformation regarding the security of any financial entity that is under the supervision of the Superintendence of Banking and Insurance “SBS” and that has the deposit insurance fund “RDS”
What is the Deposit Insurance Fund?
The RDS fulfills the legal mandate to protect savings, ensuring the maintenance of a solid and reliable financial system through modern mechanisms for the coverage of insured deposits.
The insurance has no cost for depositors since the members of the RDS pay a premium quarterly for this insurance.
When the “SBS” intervenes a financial institution member of the RDS and declares its dissolution, said institution must deliver within a period not exceeding 60 days, a list of the insured covered and from there, the payments will be made in a period no longer 10 business days after receiving said relationship.
The RDS will pay the insurance to depositors equivalent to the amount of their deposit plus interest generated up to an amount of S /. 92,738. This amount, according to Law, is updated quarterly according to the Wholesale Price Index (IPM).