How much interest rate for savings ?

Banco Popular between 5 - 7%, RUSA around 12%

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It would be important to know if you want to invest with US Dollars,or Dom.Pesos???
In a Real Bank,or with a finance house?
Cris Colon

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There are some banks paying 10% yearly. some even allow it to compound monthly. my family's bank here on the island is still paying 10%, but you may be able to get slightly more right now. Do a lot of research, and remember, this kind of interest is only paid on Dominican Pesos, so you'll have to convert your money over to pesos. I've heard of some people paying much more interest on dollars and pesos but, i would be very, very cautious and suspicious with anyone who doesn't have a transparent track record and been doing it for at least 20 years...and with lots of references. Stick with the banks.

I don't know if Central Bank has restarted their CD's yet, but i would investigate that first. Also try Banco Santo Cruz and Banco Popular. they probably tell how much they pay on their websites. The only slight disadvantage with them is that they won't allow your money to compound monthly.

Frank

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Ahh i was about to start a topic like this... I was looking towards a bank that has between 7 - 10 % interest rates and pays monthly or every 3 months it doesnt matter.

another question if u have the money locked down lets say 2 or more years do u still get paid regularly throughout the year untill it matures? or do u have to let it mature first? im looking to putting dollars but it wouldnt mind getting pesos since i would be staying in d.r.. would frank u said banks gives u more interest in dollars then pesos what exactly did u mean by that? would u get dollars back instead of pesos? thanks

ok.. banco santa cruz u can put u.s dollars and get paid in rd$ or us$ and get paid every 30 days up to 2 years. now to do more researching.

AtomicPhil said:

ok.. banco santa cruz u can put u.s dollars and get paid in rd$ or us$ and get paid every 30 days up to 2 years. now to do more researching.

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Am I correct that nothing like FDIC or FSLIC exists to protect your funds in DR banks?

thanks, Terence

JDJones said:

Latest info from Banco Popular

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Thanks for this post...very interesting. I like the fact that Cerveceria Nacional (makers of Presidente Beer, amongst other things) pay higher interest rates than the Central Bank! IN BEER WE TRUST! :bunny:

@JDJones:
Can you pls. share the link, where I can find the "El Boletin"?
Thanks

JDJones said:

Latest info from Banco Popular

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Are these rates still current?