Home
About
Sign Up Now
Log InQ&A Categories
Find a Question:
100,000.00 in Ecuador
Dec
26
2011
Hi Dom
I got a email that said you could get 9%
interest in a Ecuador bank almost sh*t my pants. IM from the US what would I have to do to get 9% interest? HURRY with reply I cant get any sleep thinking I may have a shot at 9% interest.
Hurry & Thanks
Butch
Answer #2
Hi Butch, I’m in Vilcabamba and the local bank offered close to 9% but I’ve already locked my residency CD in for a year for almost 6%, which ain’t all that bad but I could have done better if I had looked around more.
If you want, I can get more specific answerers, just let me know!
Answer this Question
You must be Logged In to post an Answer.
Not a member yet? Sign Up Now »
Star Points Scale
Earn points for Asking and Answering Questions!
[1 - 25 
]
[26 - 50 
]
[51 - 500 
]
[501 - 5000 
]
[5001 - 25000 
]
[25001+ 
]
Answer #1
Interest rates do vary here and they are certainly much better than in the USA. I know that you can get 7% pretty easily with a substantial deposit. Last time I checked you could get 7.5% for 300K CD from Pichincha bank. They insure deposits only up to a specific amount though and depending on your comfort level that may be ok or not with you. I have seen some investment type companies offering much higher interest rates, however I do not know how safe they are or what the vehicle is. Recently I heard (not verified by me) that Banco de Guayaquil was insuring foreign deposits to 100K. which is better than normal.
Good luck
larryp