CD % Rates

Kat11 · 2016-01-16T13:24:29+01:00

Explore current CD interest rates in the Dominican Republic, including payouts and savings account options for new residents.

Kat11 Serial expat

Member since 01 January 2016

Kat11Serial expat16 January 2016 11:24:29

216

Does anyone know the interest rate earned on CDs in Dominican on US dollars? I heard 4% but wanted to confirm that, do they pay out monthly?

Also if anyone knows % earned on savings acct and steps I would have to take after becoming a resident to open a bank acct?

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert16 January 2016 13:11:55

17468

Okay the rates change depending on many factors :聽 Bank,聽 dollars or pesos, amount, duration, monthly payout etc etc.聽聽Please do NOT post info on amounts here.聽 You can google the various banks to see their rates:聽 ScotiaBank, Banco Popular, BanReservas,聽 Central Bank to start with.

You do not need residencia to open a bank account. You can do so with your passport,聽 a letter of reference from your current bank and maybe a current client to refer you.聽聽Its not a tough thing to do but make sure you bring that letter of reference with you from home.

institutelouisville Contributor

Member since 25 May 2014

institutelouisvilleContributor16 January 2016 15:16:30

150

Good advice Planner.. She will also need a second letter of reference from someone who lives in the DR, like another expat or her realtor if she has one.

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Kat11 Serial expat

Member since 01 January 2016

Kat11Serial expat16 January 2016 15:28:10

216

Ok, thanks!