Is Banco Pichincha insured?

Yes. Deposits at Banco Pichincha are covered by COSEDE, Ecuador's deposit insurance agency, up to $32,000 per depositor. Amounts above that at a single institution are not guaranteed.

What is Banco Pichincha's safety rating?

Banco Pichincha carries a AAA rating from PCR, as of 2025-12-31, on Ecuador's local AAA to E scale (a different scale from the global Fitch or S&P one).

Is CD interest taxed in Ecuador?

Interest on deposits held 180 days or more is exempt from income tax. Deposits held under 180 days have a small withholding that is a creditable advance.

How do I open a CD at Banco Pichincha?

You open it directly with Banco Pichincha. The rates here are a starting point; institutions often pay more on inquiry, especially for larger deposits, so name your amount and ask.

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Ecuador Term Deposit · Updated July 2026

Banco Pichincha

Bank COSEDE $32,000 AAA (PCR)

Here is what Banco Pichincha is advertising on its term deposits right now, paired with its rating and insurance, because the highest rate and the safest home for your money are not always the same place. Rates move, so treat this as a starting point and confirm the figure with the institution before you commit.

Current rates

2.90%

1 month

3.15%

2 months

3.55%

3 months

4.50%

6 months

4.95%

12 months

Want to see what a deposit here would grow to after tax? Use the CD Returns Calculator on the main page, or weigh it against buying property with the CD vs Cuenca Property tool.

Is your money safe here?

Deposit insurance

$32,000 COSEDE, per depositor

That is the insured ceiling at one institution. If you are placing more than that, splitting across institutions keeps the whole balance covered.

Independent rating

AAA PCR · as of 2025-12-31

On Ecuador's local AAA to E scale. Strong grades (AAA, AA, A) sit at the top; BBB is adequate; BB and below are weaker. A different scale from the global Fitch or S&P one.

Advertised vs actually paid

Banco Pichincha advertises up to 4.95% on its longer terms. The Central Bank's record of what it actually paid, on average, on comparable deposits in 2026-06 was 5.63%. A gap is normal (the advertised figure is the headline offer, the Central Bank figure is a volume-weighted average across all deposit sizes), but it is worth seeing both rather than the marketing number alone.

Sources

Good to know before you deposit

Is Banco Pichincha insured?: Yes. Deposits at Banco Pichincha are covered by COSEDE, Ecuador's deposit insurance agency, up to $32,000 per depositor. Amounts above that at a single institution are not guaranteed.
What is Banco Pichincha's safety rating?: Banco Pichincha carries a AAA rating from PCR, as of 2025-12-31, on Ecuador's local AAA to E scale (a different scale from the global Fitch or S&P one).
Is CD interest taxed in Ecuador?: Interest on deposits held 180 days or more is exempt from income tax. Deposits held under 180 days have a small withholding that is a creditable advance.
How do I open a CD at Banco Pichincha?: You open it directly with Banco Pichincha. The rates here are a starting point; institutions often pay more on inquiry, especially for larger deposits, so name your amount and ask.

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