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 the US 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.
Bank Branch Founded Ownership
Banco de Credito y Comercio Banco De Credito Y Comercio 214 1997 Local
BFI BFI 31 1984 Local
BEC BEC 1999 Local
Banco Internacional de Comercio Banco Internacional De Comercio 1993 Local
Banco Metropolitano Banco Metropolitano 1996 Local

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