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Interest rates on saving accounts

Kristien

Hello everybody,

I need some advice concerning saving accounts in the Dominican Republic.

If I open a saving account for 1 year with an amount of 100.000  (that would be appr. 131.750 US Dollars) how much money will I receive from it on a monthly base? Or will I receive it only 1 time a year?

Or are there any better ways to invest my money on the bank besides saving accounts?

All suggestions are welcome on how I would invest in the best way my money on the bank!

Kristien

See also

Banking and finance in the Dominican RepublicCredit cards and other ways to pay billsRecent Experience Opening Bank Account in Santo DomingoPros and Cons between Scotiabank and Banco Popular?Dollar shortage
planner

I dont think you should discuss wuantities of your money on an open forum. 

How about generalities please.

Kristien

Sorry for that planner, I was not aware of it. The amount of money I mentioned was only as an example.
Kristien

DRyaimi

I sure miss the days when you'd get 24% for million peso CD's and 20% for less. But, nowadays, I believe it's 6 or 7%. Still, it's higher than the states. I can't speak for canada.

planner

All good Kristien!   Yes rates are no where near where they were.

planner

There are other ways to invest but they are far riskier and not recommended!!!

Bob K

Better than the US. Depending on the amount you can get up to 10% on peso account and around 6% on USD.

Kristin NEVER discuss you actual finances on a public forum

Bob K

Kristien

Thank you all for this information!

Planner, I would NEVER take any risk, not even when they offer me something very attractive to gain some money.

Bob K, as I told planner before, the amount mentioned above was only as an example, and not my personal situation!  I would only like to gain some information about the current rates in the DR...

Kristien

Bob K

Good to know

Bob K

Canadian Sig

Wouldn't it be best to keep your investments in your home country and just set up transfers if you need it?  Seems a little more secure to me, especially if you already have a trusted investor.

Sheri

planner

Depends, everyone is different. For someone making a full disconnect from country of origin that would not work.

Bob K

We actually split.  Some here some there

Bob K