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  1. #1
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    Default Where to get current CDs rates? Websites?

    I visited the websites of many DR banks to get the current CDs rates in Pesos and US$ but can't get any info. Any suggestions other than asking on the board the current rates. What are they anyways? or Web-based info on them pls.

  2. #2
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    Question

    Come on you guys, don't tell me no one uses the bank cds in the DR. What are current rates, how do we check rates rather than call every bank. Which bank currently boasts the highest interest in pesos and USD? Any info would be much appreciated.

  3. #3
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    Default

    Rates seem to be always different, according the amount and how sympathetic you are to the person in charge of CDs. You may get different rates at different locations within the same bank.
    Baninter seems to be the best at the moment, but when it comes to safety, you should check the archive ....

  4. #4
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    Default

    When I was investing in bank CD's I went to all the banks to inquire. What percentage for what amount of money varied. I did end up with Banco Santa Cruz for their high rates but have since moved to a finance house where I get about double and feel better about what I am doing.

    I agree with everything that Gerd said also btw.

  5. #5
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    Wink Very simple.

    Lets just talk about $1,000,000 pesos and above. Less than that is just a waste of time.

    Most banks in DR today are giving you 20% tops on fixed certificates for two months or more up to a year. The best bet is to stick to 90 days, so you can have the option to play around and flexibilize your options. Of course rates could go down and you may lose a few points, but right now its an up market.

    If you try places like Cotisa and Bolsa de Valores which deal with commercial paper, they are paying about 24% a year using companies like Hache, Leasing Popular, Hizzpizza, De Moya Construction, Ciudad Satelite, several car leasing companies, etc.

    TW

  6. #6
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    Cool CD's Website

    The only Bank that post their interest rates is Banco Mercantil, take a look at this link... http://www.mercantil.com.do/eng/menu_ingles.htm

    They have CD's rates in US$Dollars & DR$Pesos. Actually the best rate is from Baninter.

  7. #7
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    Wink Rasilm

    You may be right about Baninter. I just negotiated a deal with them and left BHD's Cotisa, which did not increase their rate for commercial paper this month despite rising interest rates. So I decided to go with Baninter's CD at the same rate as commercial paper, but safer, since you are dealing directly with the bank instead of using the bank as a middleman for the commercial enterprise. I got the same 24% without much argument. Besides it will be "capitalizable".

    TW

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