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Denny

Bank and CD Interest Rate Question

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Where can someone get the best interest rate for their money from a CD account.  Everything has to be legal. 

Edited by Admin_01
modified title to reflect the posting

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Global Bank has CDs paying 3.25% for 18 months.  There might be different rates for different terms.

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Thank you for getting back to me so soon. If you know of any other banks that give a higher interest rate please let me know. I looked I Costa Rica and their bank. Banco Costa Rica gives you 5.87%in a 5 year cd. I was in Liberia this past November.  On line I saw up to 9 % from off shore credit unions if you put it in a retirement account. It says you can't touch the principle or interest for 5years.   But I'm not sure how safe it is 

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Well, you know, it isn't just the nominal interest rate you need to consider, it is also the rate of inflation that exists in the country/currency you want to invest in. A year ago, Brazil banks were paying 14.5%, but the trouble was inflation was running at 16%, and then there is the cost of conversion back and forth. So far, I have yet to find any fiat currency that covers the actual rate of inflation.

Edited by Roundabout

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On 2/1/2017 at 9:50 PM, Denny said:

Thank you for getting back to me so soon. If you know of any other banks that give a higher interest rate please let me know. I looked I Costa Rica and their bank. Banco Costa Rica gives you 5.87%in a 5 year cd. I was in Liberia this past November.  On line I saw up to 9 % from off shore credit unions if you put it in a retirement account. It says you can't touch the principle or interest for 5years.   But I'm not sure how safe it is 

Suggest you ask banks here in Panama or perhaps a financial organization for detailed information to your request.

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