The short answer is yes for eligible deposits at banks and finance companies supervised by Paraguay's central bank—but not under the same system for savings held at cooperatives. The distinction matters because both kinds of institution may offer accounts that look similar to a customer while belonging to different regulatory and protection frameworks.
What the bank guarantee covers
Paraguay's Fondo de Garantía de Depósitos, or FGD, was created by Law 2334/2003. The Banco Central del Paraguay describes it as an explicit, limited and compulsory guarantee for deposits at private banks and finance companies authorized to operate by the BCP. It is designed for the resolution of a failed institution, not as a service for ordinary withdrawal disputes or investment losses.
The legal ceiling is expressed as 75 monthly minimum wages per person or legal entity at each financial institution. The BCP's current guaranteed-deposits page lists the corresponding amount as Gs. 228,300,000. Because the law uses a wage-based formula, the guaraní figure can change when the minimum wage changes; the BCP's current publication should be checked before making a financial decision.
The limit applies to the combined eligible balance a depositor has at one institution, not separately to every account. Splitting money among several accounts at the same bank therefore does not multiply the ceiling. The per-institution wording also means that protection is assessed separately at different covered institutions, subject in every case to the law's eligibility and exclusion rules.
According to the BCP's public guidance, the framework can include demand and time deposits in local or foreign currency and applies to resident and non-resident depositors, as well as individuals and legal entities. Not every balance is necessarily eligible. The law and BCP guidance contain exclusions, including categories connected to the failed institution. A depositor with an unusually structured, related-party or very large balance should obtain institution-specific confirmation rather than infer coverage from the account's commercial name.
Why cooperatives are different
A savings and credit cooperative is not a BCP-authorized bank or finance company merely because it accepts savings or offers payment services. Cooperatives are supervised under the cooperative framework by the Instituto Nacional de Cooperativismo, INCOOP. Their deposits are not covered by the BCP's FGD.
INCOOP's 2025–2026 accountability report still lists the design of a guarantee and stabilization fund for savings and credit cooperatives as a strategic action. That is evidence of work toward a cooperative mechanism, not evidence that cooperative savings have already entered the bank FGD. Until an operational scheme, participating institutions and coverage rules are officially announced, customers should not assume that a cooperative account carries the same statutory guarantee as an eligible bank deposit.
This does not mean every cooperative has the same risk or that cooperative savings are automatically unsafe. It means the specific legal backstop is different. A cooperative may have capital, reserves, internal protection arrangements and prudential requirements, but those are not interchangeable with a statutory deposit guarantee.
Checks to make before depositing
First identify the legal entity, not just the brand on an app, card or branch. Verify whether it appears among BCP-authorized banks or finance companies, or instead in INCOOP's cooperative system. Ask the institution in writing which guarantee regime applies to the exact product.
Second, add all eligible balances held under the same depositor at the same covered institution and compare the total with the current BCP limit. Currency and account labels do not by themselves create separate ceilings. If funds exceed the limit, concentration risk is a separate decision from the institution's advertised interest rate.
Third, keep account contracts, statements and identification data current. A guarantee process after an institutional resolution depends on reliable depositor records. For joint, fiduciary, corporate or related-party accounts, seek written clarification because allocation and exclusions can be legally specific.
The practical rule is straightforward: check the regulator, the legal entity and the product before comparing returns. In Paraguay, “bank deposit” and “cooperative savings” are not synonyms, and the protection attached to them should never be assumed from the storefront alone.