Cuba Interest Rates

The Cuban economy with an estimated population of 11.2 Million (Est 2012) ranks 66th in the world (CIA Statistics). It has a GDP PPP of 121 billion and GDP PPP per capita of 10,200 vs 50,700 (United States Of America) according to CIA in 2012. It has two national currencies including the Cuban National Peso CUP and the Convertible Peso CUC that is pegged to theUS dollar. Similar to other countries, banks in Cuba offers bank account products that earn interest for fixed periods and in Spanish are called Depósitos a Plazo Fijo or even Certificados de Depósitos (Time deposit or Certificate of Deposit). Also according to CIA.gov the Cuban inflation rate was estimated at 5.5% and 4.8% in 2011.

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Cuba Banks

Showing rates for 5 Bank deposit providers in Cuba.
BankBranchFoundedOwnership
Banco de Credito y ComercioBanco De Credito Y Comercio2141997Local
BFIBFI311984Local
BECBEC1999Local
Banco Internacional de ComercioBanco Internacional De Comercio1993Local
Banco MetropolitanoBanco Metropolitano1996Local

Cuba Discussion Activity

  • BFI
    Q: What would be the interest rate for a time deposit account in the amount of $50,000 CUC, with monthly automatic renewals, and what would be the monthly interest payment amounts?Thank you.

    Margaret from Coral Gables, United States