Savings account, quetzals: weighted averages of 2.82% to 3.35% at the same banks. Money stays available.
Both: covered by FOPA up to Q20,000 per individual or legal person, per Banguat.
If you have savings in Guatemala, the question isn’t whether to save, but where. The two main options are a CDP (Certificado de Depósito a Plazo / fixed-term deposit) or a traditional savings account. Banks publish the weighted-average rate they pay on each product, and in the 2026 disclosures we read, fixed-term deposits paid about twice as much as savings accounts. This comparison uses those published figures.
Quick takeaway: In the banks’ own 2026 disclosures, quetzal fixed-term deposits averaged 6.07%-6.7282% and quetzal savings 2.82%-3.35%. The fixed-term deposit pays more but commits the money for its term; the savings account pays less but leaves it available. An earlier version of this page said CDPs paid 4-5% and savings 0.25-1%, about 10 times less; the published averages do not support that.
Side-by-Side Comparison: CDP vs Savings Account
| Feature | Fixed-term deposit (CDP) | Savings account | Source |
|---|---|---|---|
| Weighted-average rate, quetzals | BAC 6.27% · Promerica 6.7282% · G&T 6.07% | BAC 2.82% · Promerica 3.0870% · G&T 3.35% | Bank disclosures (BAC 31 Jul 2026, Promerica 31 Aug 2026, G&T Jan 2026) |
| Range the bank reports, quetzals | BAC 0.00%-7.75% · Promerica 1.25%-8.40% | BAC 0.00%-5.50% · Promerica 0.00%-5.75% | Same disclosures |
| Weighted-average rate, US dollars | BAC 4.92% · Promerica 5.1028% · G&T 4.94% | BAC 1.72% · Promerica 2.4273% · G&T 2.30% | Same disclosures |
| Liquidity | Committed for the agreed term | Available | — |
| Early withdrawal | Set by each bank’s contract; not published in the disclosures | Not applicable | — |
| Minimum opening amount | Not published in the disclosures | Not published in the disclosures | — |
| FOPA protection | Up to Q20,000 per individual or legal person | Same coverage | Banguat, August 2026 |
| Tax on interest | 10% | 10% | Decreto 10-2012, Art. 92 |
The weighted averages are what each bank paid across all its deposits of that type, not a rate you are guaranteed on a new account. The range columns show the lowest and highest rates the bank reported.
What is a CDP
A CDP (Certificado de Depósito a Plazo) is a deposit you commit for a set term in exchange for an agreed interest rate. The bank documents the deposit, and the money stays committed until the term ends. Whether interest is paid periodically or at maturity, and what happens if you cancel early, depends on the bank’s contract.
Illustration, using a published average: if a 12-month deposit of Q10,000 paid BAC’s July 2026 weighted average for quetzal fixed-term deposits (6.27%), it would earn Q627 in a year before tax, or Q564.30 after the 10% tax on interest. Your actual rate is whatever the bank offers you on the day.
An earlier version of this page carried a table of typical rates for 3- to 36-month terms (1.5% to 5.2%). It had no source, and the banks’ disclosures do not break rates down by term, so we removed it. See the CDP rates page for Banguat’s system averages.
What is a Savings Account
The traditional savings account is the basic way to keep money at a bank: you deposit and withdraw when you need to, and the bank pays interest on the balance. The quetzal savings averages in the 2026 disclosures were 2.82% (BAC), 3.0870% (Banco Promerica) and 3.35% (G&T Continental).
Banguat’s home page gave the inflation rate (ritmo inflacionario) to September 2026 as 4.69%. A savings account earning the averages above earned less than that inflation rate; the fixed-term averages earned more.
It suits:
- An emergency fund
- Day-to-day money (salary in, payments out)
- Money in transit before you decide where to put it
Worked Examples: Where to Put Q50,000
These use BAC’s published weighted averages at 31 July 2026 (savings 2.82%, fixed-term 6.27%) as illustrative rates, for 12 months, before and after the 10% tax on interest.
Case 1: All in a savings account
| Product | Amount | Rate | 12-month interest | After 10% tax |
|---|---|---|---|---|
| Savings account | Q50,000 | 2.82% | Q1,410 | Q1,269 |
Case 2: All in a 12-month fixed-term deposit
| Product | Amount | Rate | 12-month interest | After 10% tax |
|---|---|---|---|---|
| Fixed-term deposit | Q50,000 | 6.27% | Q3,135 | Q2,821.50 |
But: the money is committed for the term.
Case 3: Split
| Product | Amount | Rate | 12-month interest | After 10% tax |
|---|---|---|---|---|
| Savings (emergency fund) | Q10,000 | 2.82% | Q282 | Q253.80 |
| Fixed-term deposit | Q40,000 | 6.27% | Q2,508 | Q2,257.20 |
| Total | Q50,000 | Q2,790 | Q2,511 |
The split keeps part of the money available while most of it earns the fixed-term rate.
When to Use CDP vs Savings
Use a fixed-term deposit when:
- You have money you won’t need during the term
- Your emergency fund is already covered in savings
- You are saving for a set goal (house down payment, car, university education, retirement)
- You are a returning diaspora member looking for yield on savings you have converted to quetzals
Use a savings account when:
- It’s your emergency fund
- It’s your day-to-day account
- You may need the money at short notice
- You are still deciding where to put it
CDP in Quetzals vs USD
| Feature | Quetzal fixed-term deposit | US dollar fixed-term deposit |
|---|---|---|
| Weighted average, 2026 disclosures | BAC 6.27% · Promerica 6.7282% · G&T 6.07% | BAC 4.92% · Promerica 5.1028% · G&T 4.94% |
| Currency risk for someone spending quetzals | None | The quetzal value moves with the exchange rate |
Banguat’s reference rate was Q7.82702 per dollar on 1 January 2024 and Q7.64200 on 8 October 2026, so a dollar deposit lost quetzal value over that period. Past movement does not predict the next one; see our analysis of the Banguat series. An earlier version of this page suggested a 60% quetzal / 40% dollar split for diaspora savers; that was an unsourced rule of thumb and we removed it.
How to Open a CDP Step by Step
- Compare rates at several banks; ask each for the rate on the exact term and amount you have in mind
- Decide the term based on when you will need the money
- Ask for the requirements (documents, minimum amount) and the early-cancellation terms
- Sign the contract and fund the deposit
- Keep the certificate or confirmation the bank issues
- Decide what happens at maturity (renewal or transfer to your account)
Diaspora tip: if you live abroad, ask the bank whether it will open or manage a deposit through a representative holding a power of attorney, and what form that document must take. Our page on Guatemalan consulates covers consular services.
Banks in Guatemala 2026
The rate figures on this page come from the published disclosures of three banks: BAC Credomatic (Banco de América Central), Banco Promerica and G&T Continental. We also tried Banco Industrial’s disclosure page, which refused automated connections on 8 October 2026.
Banguat describes FOPA as covering depositors in the banking system. If you are considering a cooperative instead of a bank, ask what deposit protection applies.
See best banks for foreigners in Guatemala if you’re coming from abroad.
Common Mistakes Choosing Between CDP and Savings
Mistake 1: Everything in a fixed-term deposit, no emergency fund
If an emergency comes up and all your money is committed, you may have to cancel early on the bank’s terms. Keep an emergency fund liquid.
Mistake 2: Everything in a savings account
Using BAC’s July 2026 averages, Q100,000 in savings would earn Q2,820 in a year and the same amount in a fixed-term deposit Q6,270, a difference of Q3,450 before tax.
Mistake 3: Not comparing across banks
Quetzal fixed-term averages were 6.27% at BAC (July 2026) and 6.7282% at Banco Promerica (August 2026). On Q50,000 for 12 months, that gap of 0.4582 percentage points is Q229.10 before tax.
Mistake 4: Forgetting the tax on interest
Interest is capital income, and Decreto 10-2012 sets a 10% rate on capital income (Art. 92). A 6.27% rate becomes 5.643% after that tax. (An earlier version of this page said a 5% rate nets 4.0-4.3% after tax; 10% off 5% is 4.5%.)
Final Decision: The Mix
Keep the money you may need at short notice in savings, and put the money you will not need during the term in a fixed-term deposit. How much goes where depends on your expenses and plans; an earlier version of this page proposed fixed percentage splits for different profiles, which had no source, and we removed them.
Sources
- BAC Credomatic (Banco de América Central), weighted-average, minimum and maximum deposit rates at 31 July 2026 (PDF), read 8 October 2026.
- Banco Promerica, weighted-average, minimum and maximum deposit rates at 31 August 2026 (PDF), read 8 October 2026.
- Banco G&T Continental, weighted-average rates, January 2026 (PDF), read 8 October 2026.
- Banco de Guatemala, Fondo para la Protección del Ahorro document dated August 2026, and weighted-average deposit rate table (imm05) with the September 2026 figure, and home page (policy rate, inflation to September 2026), read 7-8 October 2026.
- Decreto 10-2012, Ley de Actualización Tributaria, Art. 92, as enacted.
Related Internal Links
- CDP Rates by Bank Guatemala 2026
- Best Banks for Foreigners in Guatemala
- Mobile Banking Apps Guatemala Comparison
- Credit Cards Guatemala Comparison
- International Wire Transfers to Guatemala
- USD/GTQ Exchange Rate Today
- Wise vs Remitly Guatemala
- Diaspora Hub — Returning to Guatemala
Rates checked on 8 October 2026 from disclosures dated January, July and August 2026. Rates change; quote several banks before opening any product.
Frequently Asked Questions
Which pays more, a CDP or a savings account in Guatemala?
The fixed-term deposit, by roughly two to one in the banks’ own disclosures. BAC reported a weighted average of 6.27% on quetzal fixed-term deposits and 2.82% on quetzal savings at 31 July 2026; Banco Promerica reported 6.7282% and 3.0870% at 31 August 2026; G&T Continental reported 6.07% and 3.35% for January 2026. These are averages across each bank’s deposits, not the rate a new customer is offered.
How long do I have to lock money in a CDP?
Each bank sets its own terms, and none of the disclosures we read lists them. Ask the bank for the available terms and the rate for each before you sign.
Can I lose my money in a CDP?
Banguat’s August 2026 document on the Fondo para la Protección del Ahorro (FOPA) says the fund guarantees a depositor in the banking system recovery of deposits up to Q20,000, or the equivalent in foreign currency, per individual or legal person. Above that amount you depend on the bank. An earlier version of this page said Q40,000; that was wrong.
What if I need the money before the CDP matures?
Early-withdrawal terms are set in each bank’s contract and are not in the disclosures we read. Ask before you open the deposit whether early cancellation is allowed and what it costs.
Which bank gives the best CDP rate in Guatemala 2026?
We could not read a published offer-rate table for any bank. Among the weighted averages banks disclose, quetzal fixed-term deposits ranged from 6.07% (G&T Continental, January 2026) to 6.7282% (Banco Promerica, August 2026), with BAC at 6.27% (July 2026). Quote several banks before opening a CDP.
Is it better to hold a CDP in quetzals or US dollars in Guatemala?
Dollar deposits paid less in the same disclosures: BAC 4.92%, Banco Promerica 5.1028% and G&T Continental 4.94% weighted average on USD fixed-term deposits. Banguat’s reference rate moved from Q7.82702 per dollar on 1 January 2024 to Q7.64200 on 8 October 2026, so over that period the quetzal gained against the dollar. Neither direction is guaranteed.
How much interest does a savings account pay in Guatemala?
Weighted averages on quetzal savings deposits were 2.82% at BAC (31 July 2026), 3.0870% at Banco Promerica (31 August 2026) and 3.35% at G&T Continental (January 2026). The ranges the banks report run from 0.00% up to 5.50% (BAC) and 5.75% (Promerica), so the rate depends on the account and balance. An earlier version of this page said 0.25-1.0%; the banks’ disclosures do not support that.
