Term deposit
Interest at maturity = amount × nominal rate × days / 360, the same rule as the comparison. Since March 2026 the SRI, Ecuador’s tax authority, sets income tax withholding on financial returns at 3% (Resolution NAC-DGERCGC26-00000009). The law exempts term deposits above a minimum term, with exceptions (for example, if you owe money to the same bank); check with your bank whether your deposit has withholding. We show both values.
Splitting a deposit within the insurance
Deposit insurance (COSEDE) covers up to USD 32,000 per depositor at each bank, adding up all their accounts and deposits there. For a larger amount, this calculator splits it into term deposits of up to $32,000 at the banks that pay most, so all of it is insured.
Each part is worked out at the rate the bank publishes for that amount and term (interest at maturity, as in the comparison). If you already have money at a bank, choose it to leave it out: its cover is already in use. Check the current insured amount at cosede.gob.ec.
Loan with fixed instalments
Instalment under the French system (equal instalments) at the nominal annual rate each bank publishes. It does not include credit life insurance, other insurance, taxes or service fees, which raise the real cost; the effective rate is shown for reference and can never exceed the segment’s legal maximum.
Credit card instalment purchase
Total interest = amount × weighting factor. When the bank publishes its factor we use it as is; if it only publishes the rate, we work it out with equal instalments at that effective rate, and say so.