Venezuela Interest Rates

The Venezuelan economy, with a population of 28.9M ( 2011 Census.), ranks 33rd in the world with a GDP PPP of $407.9 billion and GDP PPP per capita of $13,605 vs. $53,101 (United States) according to the IMF in 2013. Its national currency is the Bolívar fuerte (VEF) that is issued by the Banco Central de Venezuela (www.bcv.org.ve). National banks within the country offer standard bank account products including individual transaction and savings products such as 'Cuenta Corriente Clásica' (Current Account) and 'Cuenta de Ahorros' (Savings Account). According to the CIA.gov webiste, its inflation was estimated to be 56.2% in 2013 and 21.1% in 2012.

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Venezuela Bank Photos

Venezuela Banks

Showing rates for 7 Bank deposit providers in Venezuela.
Provider Branch Founded Ownership
Banesco Banesco 415 1992 Local
Banco Provincial Banco Provincial 300 1953 Foreign
Banco Nacional de Credito Banco Nacional De Credito 159 2002 Local
Banco Industrial De Venezuela Banco Industrial De Venezuela 130 1937 Local
Bancaribe Bancaribe 113 1954 Local
Banco Venezolano de Credito Banco Venezolano De Credito 94 1925 Local
Citibank Venezuela Citibank Venezuela 6 1917 Foreign

Venezuela Discussion Activity

  • Savings
    Q: Can I deposit funds from Well Fargo banking and invest from within the United States ?

    Reply Carl from Adrian, United States
  • Banesco - Savings
    Q: Can I live in the USA and still have an account in your county’s banking system? Also is this per day money earns interest or monthly? How long do you have to have money in account to earn and not loose money when withdrawn

    Reply Abby from United States
  • Banesco
    Q: i have family in venezuela . and i am a canadian citizen .i will like to know if i could open an online account ..and deposit from a canadian bank ..

    Reply jorge from Longueuil, Canada
  • Banesco - Savings - Banesco Savings Account
    Q: Hello, I am a British citizen living in London . Is it possible for me to open an online savings account at Banesco Bank in Venezuela and earn 16% interest?

    Reply Amir from Thornton Heath, United Kingdom
  • Savings
    Q: To whom this may concern I live in Australia and would like to apply for this saving account. Will this be possible? Regards

    Reply John from Eastwood, Australia
  • Banesco - Savings - Banesco Savings Account
    Q: Hello, I am a Canadian citizen living Canada. Is it possible for me to open an online savings account at Banesco Bank in Venezuela and earn 16% interest?

    Reply Paul Arnold from London, Canada
    • R: After exchange rates in and out expenses of close to 5% your looking at a gain in currency of 11% Now Venezuela has inflation of 159% so even if they were paying 100% and the currency doubled over the year, you would still be loosing 59% of value so by the time you get back to your money, it will be worth so much less,

      Reply andy