- Thread starter malikp
- Start date
interest on a million
i think the cental bank has raised its interest rate to 18% on a three year term. when i was last there in august, i received 13.5% annually, payable monthly on a 90 day cd
Most banks are offer around 14% on 3 months. Popular offered 13.85% , BHD offered 14.25% on 3 months CD.I'd rather earn a bit less interest and get access to my money more often than lock it done for 36 months with 18%.
Also I do not keep all my $ in one bank. I can still receive all the interest only on one checking account. I got offers up to 24-25% from "non-banking investment associations", but no, thanks.
TheHun
Also I do not keep all my $ in one bank. I can still receive all the interest only on one checking account. I got offers up to 24-25% from "non-banking investment associations", but no, thanks.
TheHun
someone do the math for me. --is this correct
$10000 x 8% = $800 for 6months
is that tax free?
That's not a bnad deal you almost nothing here in the states
interest
the current rate at national bank is 18% for a three year term. for some reason the english version is not updated but the spanish site lists the 18%.
the banks will pay you the 14% on a large investment of 1million peso.
for both you can have the interest deposited monthly into a peso savings account and probably get 3% interest on that.
so you get your interest , then your interest earns interest. which will compount itself.
the current rate at national bank is 18% for a three year term. for some reason the english version is not updated but the spanish site lists the 18%.
the banks will pay you the 14% on a large investment of 1million peso.
for both you can have the interest deposited monthly into a peso savings account and probably get 3% interest on that.
so you get your interest , then your interest earns interest. which will compount itself.
16 % at Lyon bank in Sosua
I just received my first monthly interest paid at 16% from the bank of Lyon on a 1 year certificate. This bank is owned by the Presidente Beer company. They pay me intersest, I buy beer. Everybody wins. they will never go broke and I will never be sober.
It was in the bank at 9:30 a.m. it was the first time anything was on time in this country and early in the morning. WOW!!!
I just received my first monthly interest paid at 16% from the bank of Lyon on a 1 year certificate. This bank is owned by the Presidente Beer company. They pay me intersest, I buy beer. Everybody wins. they will never go broke and I will never be sober.
It was in the bank at 9:30 a.m. it was the first time anything was on time in this country and early in the morning. WOW!!!
Wow that is a good deal is it TAX free. That means that $100k would give you a annual interest os $16000 / 12 = $ 1300 amonth again would this be taxed free when you receive your money . ALso IS the money insured lets say like here in the united states maximum of course $100k.
Man I won't work and have that extra income to live monthly!!!!
Deposits/Safety
I have been to DR many times, but have never considered investing in savings there until I read the posts here. I am assuming you must be in DR to make the deposits due to wire transfer laws in the US. Additionally, is the money insured under a similar system of FDIC here in the United States? Thanks to all in advance.
I have been to DR many times, but have never considered investing in savings there until I read the posts here. I am assuming you must be in DR to make the deposits due to wire transfer laws in the US. Additionally, is the money insured under a similar system of FDIC here in the United States? Thanks to all in advance.