2016 CD rates

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AtomicPhil

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Feb 6, 2012
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hey guys, seen these type of post often but havent seen a recent one, i havent been in d.r since march of last year,
what are the current cd rates in both dollars and pesos in banks such as banreserva which i have, bancopopular and
another one like a union bank. its just to have an idea, also its for 2+ years, i tried emailing but no response. thanks
 
melphis

melphis

Living my Dream
Apr 18, 2013
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It depends on several things. How much, how long, and the bank itself. Pesos is always more than dollars.
This year I have seen as high as 7.5% for 1 year on pesos. Minimum 1 million pesos.
There could be higher but it's not something I have pursued.
 
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AtomicPhil

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Feb 6, 2012
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Well, most rrusted banks like banreserva as an example. Im planning on putting around 5k dollars. But also 3k dollars converted into pesos. What bank is there ? Something that isnt small and might collapse
 
Ecoman1949

Ecoman1949

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Oct 17, 2015
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Been told by friends who live here ScotiaBank is one of the safest and, if you own property here, you can get 1.2% a month on investments of at least $100,000 US dollars. Don't know if it's true or not but they claim they are living here off the interest. Might be worth checking out.
 
melphis

melphis

Living my Dream
Apr 18, 2013
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A few years ago you could get 15% pretty much anywhere. These days with a 100,000us you might get 8.5 or even 9 if the manager likes you. Keep in mind it has to be converted to pesos and the government now takes 10% of your interest right off the top.
 
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Islanddave

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Sep 3, 2011
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Don't forget that the peso loses about 5% per year compared to the US dollar. So if you get 10% you will only end up with about 4% after the government takes their cut and the devaluation in the peso. Much better investments out there.
 
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j&t's future

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Mar 6, 2007
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Islanddave said:
Don't forget that the peso loses about 5% per year compared to the US dollar. So if you get 10% you will only end up with about 4% after the government takes their cut and the devaluation in the peso. Much better investments out there.
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Such as??????
 
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