dominican bank high interest cd's

todobien

New member
Jul 20, 2008
246
12
0
can someone shed some light for me on the high interest cd's in the dr. my friend says he is getting 16% on a one year cd. i have a hard time believing this can be a guaranteed contract. one year cd's here in the states are paying 2-3% range. are these dominican bank contracts more like bonds? and is the principle and interest guaranteed or can you lose $$$. any info will be appreciated. t
 

jrhartley

Gold
Sep 10, 2008
8,190
580
0
64
it depends if you are keeping the money as pesos and spending it here - probably not such a good idea if you are going to change it to another currency because you would be converting it twice -----errrrr I think
 

Eddy

Silver
Jan 1, 2002
3,668
219
0
can someone shed some light for me on the high interest cd's in the dr. my friend says he is getting 16% on a one year cd. i have a hard time believing this can be a guaranteed contract. one year cd's here in the states are paying 2-3% range. are these dominican bank contracts more like bonds? and is the principle and interest guaranteed or can you lose $$$. any info will be appreciated. t
Have started to shop around a little"
Banco Popular: 8 to 9%
Banco del Progresso 12% (Less than 5 Million) for 30 days 13% for 5M+
Longer terms = lower interest.
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
23,097
6,247
113
South Coast
Bhd - 13%

We renewed a CD at BHD in October '08 for 13+%. That was the rate for a peso account - dollar accounts are SUBSTANTIALLY lower.