Bolivian savings and interests earned

Juan Carlos Salinas reports for El Deber:

Some banks exceed interest rate for savers

In banks consulted, the new rate for depositors still does not apply. There are financial products that are above those indicated by the government decree.

2014-07-12 10.05.05 amOn a tour of the financial district of the capital Santa Cruz, it was found that the decree of the Government determines that all who leave their money in a financial institution, either in a savings account or a fixed deposit (DPF), is credited an interest rate of 2%, and is not yet being implemented. In contrast, some banks offer savings alternatives that have a higher rates as raised by the Executive.

So, Banco Los Andes offers a Savings Plus account with a minimum deposit of Bs7,000 and an interest rate that starts from 1% to less than 2% as long as the deposit is greater than Bs350,000.

While Banco Union savings called Uniplus, for Bs10,000 offers an annual interest rate of 1%.

In turn, the Banco Bisa, for people who choose to save their money in a savings account, for an account starting Bs1,400 receive a monthly rate of 0.05%.

While the Credit Bank offers 0.08% and for a DPF to 371 days, for amounts starting at B30,000 offers 0.01%.

Above the norm

Banco Mercantil Santa Cruz, through its product Rendimax offers an annual interest rate of 3%.

The service is a savings starting from Bs500 that allows the depositor to withdraw their money every month up to five times; if they go over those five withdrawals, they receive no interest.

In turn, the Ganadero Bank through Ganamás savings account is paying 3% a year for people to deposit no more than Bs200,000 and in the month only made ​​four withdrawals. If passed, they will not receive any interest.

As to the question that if a person has multiple accounts and if each receive 2%, Deputy Pensions and Financial Services, Mario Guillen said that this percentage will be paid to people who have not exceeded their deposits, beyond the number of accounts you have, the Bs70,000 total is the limit, and, at his discretion, represents for 90% of deposits in the country


The Government recognized that there was not an agreement with the Association of Private Banks of Bolivia (Asoban) regarding the regulation of interest rates for loans to the productive sector and savings, but stressed that the industry was aware of the extent it was going to be implemented.

Deputy Minister of Pensions and Financial Services, Mario Guillen, said that representatives of financial institutions let him know that despite not agreeing with the action taken by the Government and will submit some remarks, will comply with it.

The executive secretary of Asoban, Nelson Villalobos, said the move will cause a reduction in the profits of the entities; however, said that the industry will comply with the standard.

The 2055 decree determines that banks must pay a minimum interest rate of 2% per year to people who have savings up to Bs70,000.

In the case of deposits, has established a curve that goes from a DPF [time deposit] 30 days with 0.18% interest; from 31 to 60 days, 0.40%; 61 to 90 days, 1.20%; from 91 to 180 days, 1.50%; from 181 to 360 days, 2.99%; 361 to 720 days, 4%; of 721-1080 days 4.06%; and greater than 1080 days, 4.10%. / ANF

The bonds pay more

The Union Bank indicated that BCB bonds have a better rate, they pay 6% per year.

Incentive to foreign

Respondents indicated that banks dollar deposits have a better interest rate.

Predominantly banking

According to Asofin, banks, as of May of this year, granted loans worth U.S. $2,291 million.

90% of the SAVINGS

According to the Government, is the percentage of savings in the country that do not exceed Bs70,000

4,200 million dollars

According to ASFI, is the amount of loans assigned for people.

Published by Bolivian Thoughts

Senior managerial experience on sustainable development projects.

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