Banco Popular Dominicano CD Interest Rates in

fidodido

New member
Aug 21, 2012
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Hi everyone,

I have been reading DR1 for some time now, so I decided to just register and post this question.

Ive been looking online and cant find the current rates for CDs at Banco Popular Dominicano. All it says its to call/stop by the branch and ask in person. Does anyone know the rates for the bank?...just wondering because I have some cash in savings that barely earns any interest and Ive heard that interest rates are higher in DR. Any imput appriciated.
 

Matilda

RIP Lindsay
Sep 13, 2006
5,485
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Very annoying to have to go to the bank branch, but true it is not on their web site. They change all the time and vary by amount, terms and length of time you want the CD to last which is why I assume they don't bother to keep the web site updated with them. Still I found this, which has the rates up to June by time period so it should give you an idea whether or not it is worth going into a branch. You need to look at the big table, and increase the size a lot!

https://seri.siv.gov.do/herel/RTI_BANCOPOPULAR22062012.pdf

Matilda
 

fidodido

New member
Aug 21, 2012
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Thanks for the great info! I did try searching google and the site and didn't find it, apologize if I missed the obvious ....


How come rates are so attractive ... I know about their bank ratings and stuff... but I don't see Banco Popular going bankrupt and stuff .... I'm just saying 7-10% return is a lot better than >1-2% return in the USA lol
 

windeguy

Well-known member
Jul 10, 2004
32,215
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Thanks for the great info! I did try searching google and the site and didn't find it, apologize if I missed the obvious ....


How come rates are so attractive ... I know about their bank ratings and stuff... but I don't see Banco Popular going bankrupt and stuff .... I'm just saying 7-10% return is a lot better than >1-2% return in the USA lol
Don't forget that your money has to be converted to DR pesos and is no longer in US dollars. There is significant risk based upon the exchange rate.
 

Matilda

RIP Lindsay
Sep 13, 2006
5,485
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Windeguy is right. You take a risk as to the exchange rate. Mind you I remember when friends were getting 46% and living the life of Larry. If you go for short term is not too much of a risk.

Matilda
 

fidodido

New member
Aug 21, 2012
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Its not a short term idea. Basically this is the scenario. After I max out the 401k and IRA, I might have extra money to just save and it just sits in a savings account. No I don't want to start like a broker account ect... I was saving up to buy a house in Bani cash... So instead of saving 100k then buying it... I could deposit my first 25k, Let it start earning 8% while I save the next 25k... Then do like a ladder of CD.... Hope making sense, I'm typing this from my phone lol.
 

andy_089

New member
Mar 23, 2003
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According to their website you have to show documents that proof the orign of the money. Anyone has experience how they handle that with foreigners? For example if a Russian person would like to invest US$500k on a CD.
 

Omar_NYC

New member
Mar 22, 2013
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Here's this months bulletin from Banco Popular Dominicano:


They're paying a lot more interest on the US dollar there than they're paying in the US.

Average rate for a savings account is a paltry 0.75% for up to $100,000.

Not bad.
 

Chicagoan

New member
May 27, 2011
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Yes, interest rates in the US are very low. However, the peso has gone down more than 2% in the last 3 months. If it continues at this rate, it will be 9% on an annual basis. So, your 9-10% interest hasn't gotten you anywhere.

For my money, it is just too risky at this time.
 

j&t's future

Active member
Mar 6, 2007
2,491
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In USD? Thanks
I found this on another page of the Banco Popular website, I'm presumming they're talking about USD's....



"We have available Treasury bonds with a yield of 6% and maturing in 2023. The minimum to invest is $ 1,000. Interest payments are semi-annual and classification of them is local AAA."