How safe are your savings?


Probably in some moments you wonder how safe your savings are when you put them in the financial system. If so, reading this article may clarify your doubt.

What is the FSD Deposit Insurance Fund?


The Deposit Insurance Fund is a Peruvian institution responsible for protecting savers in the financial system. Not only ensures the protection of savings, but seeks the health of financial institutions.

The FSD works as a kind of insurer of your savings, which protects them from bankruptcy of the institution. This acts when a financial institution is operated by the Superintendence of Banking and Insurance of Peru (SBS). Then, the FSD provides a list of the users covered for the purpose of restoring their money.

It should be noted that the FSD only protects the savers of the institutions that are under its protection. Fortunately, by law in Peru, it is necessary for financial instructions to be registered in the FSD to function. Financial companies, rural savings and credit funds, and municipal savings and credit institutions are obliged to do so. And, of course, the banking companies that operate in Peru.

How much does the FSD Deposit Insurance Fund protect you?


Your deposits are protected by the FSD for up to 99,372.00 soles, per financial institution. Your deposits are savings, checking account funds or any other modality you have in an institution. The amount supported by the FSD is updated quarterly, so you should be aware of it.

Keep in mind that the insured figure is per person and per institution. This implies that it makes no difference if you have the money in one or several instruments of the same institution. But in case you have it in several different institutions, in each of them you have insured up to 99,372.00 soles.

So how safe are your savings?


The answer is that they are very safe, if they are placed in institutions covered by the FSD . If in your finances you manage considerable amounts of money, just be careful to work with several institutions. Try to ensure that the total amount of funds placed in each of them does not exceed what is supported by the FSD .

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