Banca Santa Cruz. 14.8% interest, pesos

affald

New member
May 17, 2004
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Anyone hear of this bank in Santiago. 7.4% on 6 month cd.

Is this possible? Is this bank legitimate?
 

joe

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Jan 12, 2016
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Santa Cruz offers 8.15% per annum. You may purchase a government CD through Santa Cruz that yields 10.2% for a 6 year term. This info however is 4 months old.
 

affald

New member
May 17, 2004
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Santa Cruz offers 8.15% per annum. You may purchase a government CD through Santa Cruz that yields 10.2% for a 6 year term. This info however is 4 months old.
I was telling my friend it's 7.4 annual yield, he swears it's for 6 months.
 

joe

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Jan 12, 2016
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Those numbers are based on a 5 million peso purchase. If you were to invest more perhaps the yield could be more. I don't know.
 

affald

New member
May 17, 2004
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Those numbers are based on a 5 million peso purchase. If you were to invest more perhaps the yield could be more. I don't know.
He claims he only put in 250,000 pesos and is getting 7.4 for six months.

I may have to bet him a bottle of Johnny blue
 

joe

Brain Donor!
Jan 12, 2016
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Just thinking. He may have a cd that is years old so if that's the case he could get that yield. Hold off on the bet.
 

joe

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Jan 12, 2016
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Then bet him a case of johnny blue. You can always contact Santa Cruz.
 

cavok

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Jun 16, 2014
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The highest I've heard of recently for sovereign peso bonds is around 11% annually, and this is usually on a 7 year bond - pmts every 6 months, so 5.5% every 6 months.

If your friend is getting 14.8% annually, please post again. I'm interested!
 

joe

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Jan 12, 2016
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I have peso bonds at 12.5%, and the latest at 10.2%, both seven year bonds. The 12.5% matures in 2 years.
 

frank12

Gold
Sep 6, 2011
11,847
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48
I get 11% a yearly, but compounded monthly. been collecting interest now for 13 or 14yrs. Mine started way, way back when it was 24% a year, then it slowly went down incrementally to 11% where it leveled off a couple years ago. 1%, however, gets taken out for taxes. People forget that.

Big Frank, my old boss, has been collecting 12% yearly for a long time--off and on. Same place as me. It too compounds monthly.

Sorry, can't disclose which bank, but any banks like Banco Santa Cruz is a good place to go. I would start there.

I've been living off of interest for 13yrs, and its what pays the bills!

Frank
 

cavok

Silver
Jun 16, 2014
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These are sovereign bonds, so that does reduce the risk. Also, the peso is devaluating at around 3.5% per year, so you have to subtract that from the yield. In addition, if you run the numbers in Dollars you'll find it reduces the yield even further. At 14.8% I would still be willing to consider them.

Years back I had one at 18% for 3 years and another for 15.9% for 7 years.
 

joe

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Jan 12, 2016
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5million through a Banco Central broker gets you,
2018- 8.9%
2020- 9.5%
2021- 9.8%
2022- 10%
2023-10.2%

there are bonds from Ministerio de Hacienda that range from 2018@ 8.7% to 2028 @ 10.10%.
 

joe

Brain Donor!
Jan 12, 2016
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I've been investing since 2005 from 20% to now 10.2%. I've never had a problem and have been living here well since 2008 off of my interest. Never needed to take money from my foreign accts. Cross fingers. Considering that if you live here, you are making pesos and spending pesos, no need to lose sleep over the peso devaluing against the buck.
 

affald

New member
May 17, 2004
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Will find out by Friday. He confirms he is getting 1.23% per month, I still don't believe it.
 

windeguy

Platinum
Jul 10, 2004
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Banca Santa Cruz or Banco Santa Cruz? A Banca is normally a gambling establishment. Getting more than the 10% to 11% return quoted by others sounds like a real gamble. Just like the pyramid schemes at Anoeca and RUSA.