Basic Business Sense 101 applies here
All over the DR there are people and projects that need financing. Some are very good and willl be able to repay the loans at the cited interest rates.
The big problem is to find out just what finance house is very critical as to the "who" and "what for" it lends your money.
It stands to reason that if they are offering high returns for your deposit, they have to be financing some projects that are "somewhat risky" to say the least.
The banks have lowered interest rates considerably over the past few months and even the Central Bank is getting nearly 35 or 40 points less than it got for certificates just 6 months ago.
So, talk to people in the area. Find out just how they are playing with their money. Weigh the risks versus the benefits.
Remember banks do cover deposits up to RD$100,000, but with this
caveat if you have multiple deposits of RD$90,000 in the same bank, they will not be considered as separate entities for recovery should the bank fail.
HOwever, places like the Banco Popular, BHD and Banco REservas are good, solid places to park your money.
HB