Best Fixed-Term Deposits in Chile 2026 2026

Depósitos a Plazo (DAPs) are the most widely used savings instrument in Chile for generating returns on capital in the short and medium term. In February 2026, the best market rates are around 0.40% monthly (~4.8% annually), with Banco Internacional and Banco Consorcio leading the rankings. For those seeking full liquidity, Mercado Pago Chile offers ~8% annually through a mutual fund with daily returns. APYData compares all products available in Chilean pesos so you can make the best decision.

Products compared

8.00%

Best APY available

6.10%

Average APY

#	Entity	Product	APY	Score	Risk	Liquidity	View
1	Mercado Pago	Cuenta Mercado Pago Chile	8.00%	7.0	Low	—	View →
2	Banco Consorcio	Cuenta de Ahorro Consorcio Chile	5.50%	7.8	Low	—	View →
3	Banco Internacional	DAP Banco Internacional Chile	4.80%	7.6	Low	—	View →

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Best term deposits in Chile in 2026

Chile has one of Latin America's most developed financial systems. Term deposits (depósitos a plazo) are the most widely used savings instrument among Chileans, with rates determined by Banco Central de Chile monetary policy. The soundness of Chilean banking and the stability of its regulatory framework make these products among the safest in the region.

How do Chilean term deposits work?

There are two main types:

Fixed-term deposit — rate agreed upfront, capital locked until maturity. Penalty for early withdrawal.
Renewable term deposit — automatically renewed at maturity at the prevailing market rate. More convenient but with uncertainty about future rates.

Deposit guarantee in Chile

The Chilean state guarantees bank deposits through two mechanisms:

Full state guarantee — for demand deposits and term deposits under 90 days: 90% of principal is state-guaranteed (no cap on the guaranteed 90%).
Deposit Guarantee Fund (FGD) — for term deposits over 90 days: up to UF 400 per person (approximately $18,000 USD in 2026) with state backing.

Top banks for term deposits

Banco Estado — public bank, highest implicit state guarantee, competitive rates.
Banco de Chile — largest private bank, wide network, market rates.
Mercado Pago Chile — digital platform with high-liquidity remunerated account.
Coopeuch — largest cooperative in the country, frequently offers above-market rates.

Nominal vs real rates in Chile

In Chile it's important to note whether the rate is nominal (in CLP) or real (denominated in UF). UF (Unidad de Fomento) rates automatically adjust for inflation, guaranteeing a positive real return. In high-inflation environments like 2022–2023, UF deposits were highly profitable. With more moderate inflation in 2026, nominal peso deposits may be preferable if nominal rates are sufficiently high.

How to compare deposits in Chile

The CMF (Financial Market Commission) publishes monthly average rate statistics by term and bank. You can also compare in real time on our comparator: filter by CLP currency to see all available products.

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Frequently asked questions

What is a DAP in Chile?

A DAP (Depósito a Plazo) is a bank contract where you deposit money for a fixed period in exchange for an interest rate. It can be renewed at maturity. DAPs at Chilean banks are protected by the state guarantee up to UF 108 (~CLP 4 million).

Is a DAP or Mercado Pago Chile better for saving?

It depends on your time horizon. Mercado Pago Chile offers ~8% annually with daily liquidity but is a mutual fund (no state guarantee). DAPs offer ~4.8% with capital protected by banking guarantee but no access until maturity. For capital you do not need short-term, the DAP is safer.

How do bank rates compare in Chile?

DAP rates vary between banks. In 2026, the average market rate is around 0.36% monthly, with leaders (Banco Internacional, Banco Consorcio, BTG Pactual) offering up to 0.40% monthly. BancoEstado is usually below average but offers UF-denominated products that protect against inflation.