CDA in Paraguay: what it is, how it works and how much it yields

CDA stands for Certificado de Depósito de Ahorro (Savings Deposit Certificate), also called a time deposit. It's a product offered by banks and finance companies: you deposit an amount, commit to leaving it for a set term (say 90, 180 or 365 days), and in exchange the institution pays you a higher rate than a regular savings account.

How it works

• You choose the amount and term when you open it. Each institution sets its own minimum (some start at ₲1,000,000, others higher).
• The rate stays fixed for the whole term you chose, unless the institution offers a variable rate (read the fine print).
• You can't withdraw early without losing part of the interest, unless the product allows it with a penalty.
• At maturity, you collect the principal plus interest, and can renew or withdraw it.

CDA vs. savings account

At finance companies, the average over 365 days rises to 10.58% (BCP, June 2026): they tend to pay a bit more than banks, in exchange for checking the institution's reputation and guarantee more carefully.

Does it beat inflation?

With inflation at 1.7% year over year (September 2026) and a CDA yielding 9.95% a year, the real return (after inflation) is roughly 8% positive: your money doesn't just hold its value, it gains purchasing power. That changes if inflation rises: always compare the CDA rate against current inflation, not an old figure.

Example with numbers

If you deposit ₲10,000,000 in a CDA over 365 days, at an average 9.95% a year, in one year you earn roughly ₲995,000 in interest (before any tax or fee your institution may apply).

Is it safe?

Deposits at banks and finance companies supervised by the BCP are covered by the Deposit Guarantee Fund, up to ₲228,300,000 (75 minimum wages) per person and per institution. If your CDA exceeds that, you can split it across more than one institution so it's all covered.

When a CDA makes sense and when it doesn't

• It makes sense for money you've already set aside for a medium-term goal (a trip in a year, a down payment) or for the part of your emergency fund you don't need immediately.
• It doesn't make sense if you still have expensive debt outstanding (a card at 19.62% a year, for example): paying that debt "earns" you more than any CDA.
• It doesn't make sense for your whole emergency fund, because you can't pull it out quickly without losing part of the interest.

Ask these before opening one

1. The exact rate and whether it's fixed or variable during the term.
2. What happens if you need the money before maturity.
3. Whether taxes or fees get deducted from the interest.
4. The minimum amount and available terms.

Compare yields with the calculator

In the savings vs. inflation calculator, enter the amount, the rate offered and the term, and see what you earn in real terms, after inflation for the month.

Frequently asked questions

Can I withdraw a CDA before the term ends?

It depends on the institution. Some allow it with a penalty on the interest; others don't allow it at all. Ask before opening one.

Does a CDA in dollars yield the same as one in guaraníes?

No, it usually yields less in dollars. Check the specific rate for the currency you're depositing in.

Do credit unions offer something like a CDA?

Yes, often called a time deposit too. Confirm whether your credit union is under the right supervision and what guarantee covers your deposit.

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This article is educational, not financial or investment advice. Rates change: confirm them with your institution before deciding.

Sources

• Central Bank of Paraguay (BCP): average CDA rates at banks and finance companies, June 2026; Deposit Guarantee Fund.