I have a question for those who invest at Dominican banks or have extensive knowledge of the subject.
I previously read this at Dominican Republic Banks Banking | Investments | Offshore Business | Retirement Accounts | News Articles and Information | Legal Services
"Should it be appropriate for you, investing in time deposits denominated in the local currency, the Dominican Peso, could offer yields up to 20% for a bank CD"
Is this true? And if so, maybe I am still misunderstanding...
So to be clear, when I move to DR, I can take say, $5,000 US and convert it into Pesos, invest that in a bank CD and yield the equivalent of $1000 U.S. (%20) in Pesos yearly?
Is that right? That seems to good to be true! :surprised
OH! And also, do any of these banks also offer DAILY compounding interest on these investments?
I previously read this at Dominican Republic Banks Banking | Investments | Offshore Business | Retirement Accounts | News Articles and Information | Legal Services
"Should it be appropriate for you, investing in time deposits denominated in the local currency, the Dominican Peso, could offer yields up to 20% for a bank CD"
Is this true? And if so, maybe I am still misunderstanding...
So to be clear, when I move to DR, I can take say, $5,000 US and convert it into Pesos, invest that in a bank CD and yield the equivalent of $1000 U.S. (%20) in Pesos yearly?
Is that right? That seems to good to be true! :surprised
OH! And also, do any of these banks also offer DAILY compounding interest on these investments?
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