Costa Rica Bank Deposit Rates

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  • July 23, 2011 at 12:00 am #165473
    pebo
    Member

    Can anyone supply any info on approximate fixed deposit rates for funds placed in local banks in colones for long terms 2-4 yrs etc. I assume interest earned would also be taxable. Rates in N. American are pitifully low.

    Thanks—–Peter

    July 24, 2011 at 1:40 am #165474
    bogino
    Participant

    T-Bills with maturities out to 3 months have been trading at negative yield. How’s that for a return…:(:(

    July 24, 2011 at 6:00 pm #165475
    Bandera
    Member

    [quote=”pebo”]Can anyone supply any info on approximate fixed deposit rates for funds placed in local banks in colones for long terms 2-4 yrs etc. I assume interest earned would also be taxable. Rates in N. American are pitifully low.

    Thanks—–Peter[/quote]
    Peter. I had a Cd with Banco de National de CR. For One year in Euros. I watched it appreciate against the US Dollar and thus the Colone. Alot of Panama Banks have branches in CR. Look up everbank.com
    They have rates around the world.
    I an going to reenter my subscription to the Adsen Sisters who have been in CR for 30 years. They are pretty sharp on what currencies are getting stronger. I can email you
    Stan
    Bandera
    Racine WI

    July 25, 2011 at 2:51 am #165476
    Andrew
    Keymaster

    I think you’re referring to the Aden sisters: Pamela and Mary Ann Aden, Bandera, yes?

    [ http://www.adenforecast.com/aboutUs.php ]

    July 27, 2011 at 5:47 pm #165477
    Bandera
    Member

    [quote=”Scott”]I think you’re referring to the Aden sisters: Pamela and Mary Ann Aden, Bandera, yes?

    [ http://www.adenforecast.com/aboutUs.php ][/quote]
    That is correct, Peter . I have followed them for 30 years. They have lived in Costa Rica. The best advice for you is to diversify. Remember what paper money is?

    Stan

    July 27, 2011 at 5:54 pm #165478
    Andrew
    Keymaster

    Forgive me Bandera Stan but I deleted your email address from your previous post ….

    The last thing I need is to be accused of helping to promote a “tax evasion” scheme on the site and yes! It has happened to people I know…

    Scott

    July 29, 2011 at 1:56 pm #165479
    pebo
    Member

    Thanks Stan and Scott. I am somewhat diversified but presently working/living in India and leaving a good chunk of cash in local currency at 9% compounded and also in precious metals as fiat currencies especially in the west are risky I believe.

    India has high interest lending rates and subsequent attractive CD rates, I thought lending rates were also high in CR hence the querie re: deposit rates.

    Appreciate other leads also.

    Cheers—- Peter

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