The recovery of economic activity increased the savings capacity of Peruvian households during the second year of the pandemic, according to Liliana Lescano, product manager at Piura Box.
With the pandemic COVID-19, Peruvians learned that it is better to have a backup fund for any emergency, so they look for profitable and safe solutions with preferential rates such as fixed-term deposits, where they have deposited the Compensation for Time of Service (CTS) funds. , refers Lescano.
For the executive, Peruvians saved significantly throughout the year due to the conditions of the pandemic.
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“The factors that contributed to raising savings rates were the decrease in personal spending and the low investment of companies. The withdrawal of savings funds such as the CTS also increased the savings capacity“, he pointed.
The CTS is a fund that works as an unemployment insurance dedicated to protecting workers when their employment relationship ends. Withdrawing it should not imply its automatic expense, but save it for a future situation.
Depositing money at a preferential rate will benefit your personal finances and savings funds for your next investment, without putting your financial future at risk, says Lescano.
Caja Piura plans to close 2021 with placements for S/ 250 million in the micro and small business segment.
