Depositors interest rates!!

I am not sure, but someone told me that the best rates are for 300,000 peso minimum. $8,333 dollars. I hope someone confirms this.

coperativo?

What is a "coperativo"? - just wondering! My experience with the banks is that they pay next to nothing for dollar account interest.

Santiagoguy said:

Just wondering if anyone can shed some light on starting a small savings account 3-5k (US). I currently live in Santiago and was told that the "coperativos" offer high interest rates but does that apply to small amounts of cash or are there minimums? Do the main banks offer the same iterest rates paid out as the coperativos?...any info on this topic would be greatly appreciated

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Again, The Central Bank of the DR offers the most interest on Peso CDs with the least risk.

I see no value in gaining 1-3% on US dollars in a Domincian banking institution.

All users seeking out this info should check Moody's.

Safe it.

Santiagoguy said:

what can I do to put away a good 4 g's US n make some interest off it in the DR?..I have no problem changing it to pesos, or is that just not gonna happen?

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If I may assume that 4 "g's" equates $4000.oo (?), I don't think you will get much leverage or impress any financial institution into giving you a hugely preferential rate. Probably your #1 option will be to deposit it into a local bank USD account and earn a measly 1% their savings account may pay out.
I am in no way belittling your savings, btw. And thus I urge you to be wary of spectacular offers you may get from other "institutions" or people offering "investment" opportunities to dump your money in.

I think that unless you are prepared to take the risk and entrusting it to a local private "investment" firm or have safe ideas on investing it into some of your own business ideas, there are better and safer investment tool available outside of the DR.

Btw. Cooperativas/os - Associaciones de prestamos/ahoros where initially designed to be somewhat similar to your neighborhood/community loans & savings in the States. I don't know what their operational status here is today.


... J-D.

J D Sauser said:

Btw. Cooperativas/os - Associaciones de prestamos/ahoros where initially designed to be somewhat similar to your neighborhood/community loans & savings in the States. I don't know what their operational status here is today.


... J-D.

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Many are member owned and do not limit the number of shares available...the more shares, the more capital to lend. Alida's family has shares in several, and none have failed to pay a handsome dividend.

They seem to be a cross between an S&L and a Credit Union. Based on the long lines I see at some of them, they are quite popular with many Dominicans.

Thay are one of those industries I intend to look deeply into to understand more about the Dominican business/consumer culture...

CD's whats going on

windeguy said:

At the moment, the Banco Central is not taking any new "investments" in CDs.
Anyone know why? Are they playing games because they want IMF funding?

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ANYBODY got ANY info on whats hapenning with the CD's

Some of mine have only a couple of months to run and I'm concerned to say the least.

Cheers,Paul