SBS has raised the maximum coverage amount for deposit insurance to S/122,000.

For the June–August 2026 quarter, the maximum coverage provided by the Deposit Insurance Fund (FSD) increased to S/ 122,000, as mandated by the Superintendency of Banking, Insurance, and Pension Fund Administrators (SBS). This new amount represents an increase compared to the previous quarter (March–May of this year), when the protection limit stood at S/ 117,200.

This update to the coverage limit was determined by the SBS in accordance with the powers granted to it under paragraph 9 of Article 349 and Article 18 of the General Law on the Financial System and the Insurance System and the Organic Law of the SBS (Law 26702, as amended).

The FSD protection amount is not fixed; it is recalculated every three months based on changes in the Wholesale Price Index (IPM). According to official sources, changes in this index determine whether the savings protection amount increases or decreases.

What types of accounts and savings are backed by the FSD?

The protection applies to all registered deposits, regardless of type, provided they belong to individuals or private nonprofit organizations. SBS

The deposit insurance coverage extends not only to savings in checking, savings, time, and CTS accounts, but also to the interest these accounts have earned on an ongoing basis since their opening date or most recent renewal date.

What is the procedure for collecting insurance benefits, and how are savings in dollars handled?

To determine the insurance limit, the total balance of all protected accounts that the user holds at a single financial institution is aggregated.

The financial backing applies only to savings accounts managed by banks, financial institutions, municipal savings banks, and rural savings banks that are members of the FSD.

When the liquidation of a member institution begins, insurance payments are made in strict accordance with the list prepared by the SBS, which consolidates information on insured customers and the total amount of money they are entitled to receive.

If the deposits are in foreign currency, the insurance payout is made in soles based on the applicable exchange rate. On the other hand, for joint accounts, the total balance is divided equally among all account holders.

Source: LA REPÚBLICA

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