Results 1 to 10 of 10
  1. #1
    Newbie
    Join Date
    Jan 2002
    Posts
    1
    Post Thanks / Like

    Question Bank interest Rates/ Living in Santiago

    Maybe this question has been asked many times before, nontheless I'll put it out there again. What kind of interest rate can someone expect in a bank in the D.R. for lets say $RD2,000,000. Me and my wife have thought of moving to the DR or PR. I am orginally from PR and she is from Santiago. I like the DR and really don't mind any of the happenings of daily life there. I guess what worries me the most about moving there are my childrens education and healthcare. I know that I have thrown a lot out there, however I hope that this knowledgeable group of people can inform me on these matters. Sincerely,
    Agueybana

  2. #2
    Moderator
    Join Date
    Jan 2002
    Posts
    18,102
    Post Thanks / Like

    Default Pretty easy questions

    You should get between 18 to 20 percent per year on your deposit. At a very solid bank. YOu could get a little less on Morgage paper thru one of the Savings and Loan Banks.

    As for (1) Education-you can educate you children very well in Santiag. either in english or Spanish. I would recommend the latter, and have them learn english at the Dominico. After all we have dozens of boricuas studying in the Medical school here, and they do very well in PR wehn they go back.
    (2) Health. Santiago is blessed with some of the top people in Medicine. the new Hospital Metropolitano will be a teaching and research insititution with ties to Mayo, Cleveland and Jackson.
    Unless you require really extraordinary proceedures, there is nothing to worry about. And if you still worry, keep up your Statesdie Medical plan and take a Medevac Insurance (about $240 a year).

    Finally, Santiago will be connected to the world in a short time,as soon as the airport opens..

    HB

  3. #3
    Regular
    Join Date
    Jan 2002
    Posts
    44
    Post Thanks / Like

    Lightbulb Bank Interest Rates

    You can expect 15% on that amount, that is around DR$25,000 pesos per month (try Baninter they have the best rates).

    I used to live in Santiago for almost 10 years and you can find very good privates School in Santiago. Regarding healthcare you can buy Healthcare Insurance for a family of 4 for DR$12,000 pesos per year.

    Before buying a house or condo, you should rent first. A house or an apartment in a very nice neighborhood cost you around DR$6,000- 8,000 pesos per month.

    I also lived in Puerto Rico for 30 years before retire to my country and I don't recommend you to move to PR, actually crime rate is to high and increasing. Now I live in Santo Domingo and have a little tourist transportation business as a part time job. Any other question, feel free to ask.

    Rafael Silva

  4. #4
    Regular
    Join Date
    Jan 2002
    Posts
    44
    Post Thanks / Like

    Default Hillbilly/ 18-20%???????

    Please tell me which Bank is actually paying that rate. The more can you get is 16% if you deposit more that DR$3,000,000 millions pesos.

  5. #5
    Regular
    Join Date
    Jan 2002
    Posts
    326
    Post Thanks / Like

    Default

    i would think on that amount 15 percent is closer to the truth.
    thats for a three month period.
    However if you read the DR1 news
    you saw the goverment taking another 5 billion pesos from them.
    Will that put them in a liquidity problem.
    Will The goverment ever pay them back.?
    Maybe accept a few percentage point less with the most secure bank.
    you will be better of.

  6. #6
    Regular
    Join Date
    Jan 2002
    Posts
    184
    Post Thanks / Like

    Question Medavac insurance for $240US?

    Hi Hillbilly,
    You posted medavac insur for $240? Can you tell me the provider? I'm looking for one in the US and the best I can find is $49US per month but includes $500K max in DR and $50Kmax in US, including up to $100K for medavac, $5K for family emergency.

    Also, in your opinion, what do you think is the "safest" bank in DR, especially one w/a local branch close to Cabarete? Preferably one that you can set up US dollar account and get US certified checks.... I'm looking into Citibank but don't think they're necessarily better than a DR bank.

    Thanks in advance for any insight you can provide.

    Marina

  7. #7
    Regular
    Join Date
    Jan 2002
    Posts
    44
    Post Thanks / Like

    Smile Interest Rates

    As a matter of fact, interest rates will go up eventually, but not as high as they were in the past, 23-24%. My humble oipinion is that it could go up up to 19% within a year.

  8. #8
    Regular
    Join Date
    Jan 2002
    Posts
    326
    Post Thanks / Like

    Default Re: bank safety

    [i]Originally posted by
    certified checks.... I'm looking into Citibank but don't think they're necessarily better than a DR bank.

    Thanks in advance for any insight you can provide.

    Marina [/B]
    if better is safer then citi is much better.

    Citibank and Scotia bank are by far the safest banks
    there is not a Dominican bank providing the same security.
    without a question.
    your money is very much safer in these institutions.

  9. #9
    Moderator
    Join Date
    Jan 2002
    Posts
    18,102
    Post Thanks / Like

    Exclamation I'll have to do some checking/Updated

    1) As to Interest rates: I will have to ask again.
    2) Med Evac insurance. I was only talking about the flight itself insurance. Med insurance I don't know about.

    HB

    And I will find the provider for you.

    Updated: Banco Popular will give you (get this!!) 10% on your money in a CD. No matter 2, 4 or 20 million.. Bancredito will give you 12.5%
    Loans are deposit rate + 12%. {As of today's date}

    Popular is the largest bank in the country...also, it seems, the most liquid..
    Last edited by Hillbilly; 01-15-2002 at 04:27 PM.

  10. #10
    Gold
    Join Date
    Jan 2002
    Posts
    7,398
    Post Thanks / Like

    Default Banco Santiago

    gave me 12% on a 50,000 CD for 3 months about a month ago.

    You can get 8.5 on a us dollar account of 100k or more a month ago also. That was the best rate in Sosua at the time.

    Scott

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •