certificates of deposit

Nov 10, 2010
146
2
0
Hi
what rates are being offered on CD's (US$$)?
im not sure i understand how the system works i.e how to buy them, how to find out out the best offers being made etc .... If someone can take the time to let me know which banks commonly offer them and typical rates being offered that would be great
 

pelaut

Bronze
Aug 5, 2007
1,089
33
0
www.ThornlessPath.com
When the peso deteriorates against the dollar at a higher rate than your CD's interest, the Central Bank freezes both your interest and your access to the CDs. But that won't happen until after the next election ? depending . . . .
 

NotLurking

Bronze
Jul 21, 2003
2,067
810
113
When the peso deteriorates against the dollar at a higher rate than your CD's interest, the Central Bank freezes both your interest and your access to the CDs. But that won't happen until after the next election — depending . . . .

Really? Exactly When has this happened? To the best of my recollection nothing even close to what you describe has happened in the previous 15-20 years. I've had several CD's from the central bank since the Baninter fiasco and I've never had any issue with the interest payments nor with retrieving my initial invested capital on the CD maturity date. In fact, I don't buy new/more CDs from the central bank simply because the current rate offred by the central bank is to low.

NotLurking
 

NotLurking

Bronze
Jul 21, 2003
2,067
810
113
All banks in the DR offer CDs with varying degree of restriction , prepayment penalties and interest rates. In my opinion, the best bank by far for long term CDs was (is?) Central Bank. The Central bank had the best rates for fix term CDs of 12 to 36 months but the Central bank stop issuing CDs of fix term (Plaso fijo) about 1.5 years ago. Other banks such as Popular, Leon, Reserva, Scottiabank, etc offer CDs of different terms and interest rates. The only way to find out what is being offered is to visit many banks and ask. Some of these banks also offer US$ CDs but the rates offered is not that great.

NotLurking
 

NotLurking

Bronze
Jul 21, 2003
2,067
810
113
The Central Bank did not stop issuing CDs. What the Central bank did 1 1/2 years ago was stop Direct sale of fixed term CD (Venta de ventanilla directa CD a Plazo Fijo). The Central bank currently sell, and has done so for a long time, CDs with early redemption option and prepayment penalty.

NotLurking
 

mountainannie

Platinum
Dec 11, 2003
14,944
406
83
elizabetheames.blogspot.com
I am reading here: Banco Central de la Repblica Dominicana that they are offering 8%... I am wondering if this rate is up to date.
Do you have any info on that ?

I do not see that this is on US dollars.. but it is early yet and the coffee may not have kicked in.. What is the interest rate for pesos? I could not seem to navigate this site.

8% on US dollar accounts is really an AWESOME interest rate now..
 

Squat

Tropical geek in Las Terrenas
Jan 1, 2002
2,136
85
48
I do not see that this is on US dollars.. but it is early yet and the coffee may not have kicked in.. What is the interest rate for pesos? I could not seem to navigate this site.

8% on US dollar accounts is really an AWESOME interest rate now..
This above-mentioned link is in pesos... I should have specified it in my previous post indeed... I am looking however into 10 or 12%... Still looking...
 

Rumble2005

Member
Mar 18, 2006
361
20
18
I posted the below informtation in it's own thread yesterday. Maybe it will have more traction in this thread:

The Chamber of Deputies has approved a bill authorizing the Ministry of Hacienda to issue public debt bonds for RD$25.2 billion for the partial payment of the government debt through 31 December 2005. The bill was sent to the Presidency for signing. The bonds will be auctioned by the Public Credit Office and the interest rate will be 15%.

Has anyone bought into such offerings in the past?
 
Nov 10, 2010
146
2
0
Hi
what rates are being offered on CD's (US$$)?
im not sure i understand how the system works i.e how to buy them, how to find out out the best offers being made etc .... If someone can take the time to let me know which banks commonly offer them and typical rates being offered that would be great.
How do i do it form overseas, can i transfer $$$ from overseas after i set up an account.... looking for someone to take the time to take me from kindergarten level to 3rd grade level???
pleaseeeeeeeee!!!!