Banco Popular

Larry

Gold
Mar 22, 2002
3,513
2
0
Ok,I did an archive search but I wanted updated info.What is the interest rate for a savings account for a deposit of UNDER $100,000 usd? Does this rate fluxuate or are you locked in? What is the rate on CD's UNDER $100,000 usd? How long do you have to keep the money in the CD and are you locked in on the rate?
Thanks,
ILoveDR
 

Paul Thate

New member
Jan 11, 2002
342
0
0
bank deposits

if you pool your money with some one who has more you can benifit from the larger client.
you should be able to get 18-20 percent on that money
on a 2 or 3 mos deposit with a bank like Baninter.
here on the north coast there are several people that specialise in that.
 

mondongo

Bronze
Jan 1, 2002
1,533
6
38
ILD: diversification is good.... Remember that there is a reason why Dominican banks are paying 10 times more interest than US banks....its a cliche, but is a good one: "don't put all your eggs in one basket"
 

Jennifer

New member
Jul 9, 2002
43
0
0
Speaking of eggs in one basket, exactly how safe are bank deposits in DR? Are they insured by the government, are there some banks which are more dependable than others?
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
Yes, some banks are considered to be more dependable than others. There are several good ones, including Banco Popular. It was identified recently as one of the best banks in Central and South America.
 

Escott

Gold
Jan 14, 2002
7,716
6
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www.escottinsosua.blogspot.com
Re: bank deposits

Paul Thate said:
if you pool your money with some one who has more you can benifit from the larger client. you should be able to get 18-20 percent on that money on a 2 or 3 mos deposit with a bank like Baninter. here on the north coast there are several people that specialise in that.

NOT on US dollars. Pesos yes. Peso's also go up and mostly down in value compared the the Dollar. Hell sometimes goes down 4 percent in one month.

I keep enough in peso to live on and the rest in dollars. I don't think that any deposit in the DR is insured by anyone. This is NOT the US with FDIC insurance.

FWIW I get 14+% on dollars and 22+% on Pesos with a finance house in the DR in CD's with a 30 day call on my part to get the money. If this interests you let me know and I will give you the name and number.