#1 Today, 12:32 PM
les1
Bronze Join Date: Feb 2007
Posts: 50
(10)
Interest rates
Hi,
Just returned from DR and I'm interested in finding the best interest rates. I enquired at Banco's Popular and Progresso asking to deposit 3-5 million pesos for a fixed period (say 3 years) and have the interest paid monthly. Basically I want to use some capital to live on the interest. They told me they would only do it for a period of 6 months and the interest was 6.55%. I was expecting a lot more - 10% plus. Am I asking the wrong questions? Should I be asking about something other than a straight forward account?
If you have any info I'd appreciate it and would apreciate it even more if you know the Spanish terminology too.
Thanks
les1
Bronze Join Date: Feb 2007
Posts: 50
(10)
Interest rates
Hi,
Just returned from DR and I'm interested in finding the best interest rates. I enquired at Banco's Popular and Progresso asking to deposit 3-5 million pesos for a fixed period (say 3 years) and have the interest paid monthly. Basically I want to use some capital to live on the interest. They told me they would only do it for a period of 6 months and the interest was 6.55%. I was expecting a lot more - 10% plus. Am I asking the wrong questions? Should I be asking about something other than a straight forward account?
If you have any info I'd appreciate it and would apreciate it even more if you know the Spanish terminology too.
Thanks