Deposits in CD's

[tino]

Hello, I will like to get some information on the return or the percentage for deposit in a CD account for 2 years;  what will be the interest for $70,000.00- $100,000.00.  Thank you very much

[Russ]

The Central Bank of Costa Rica www.bccr.fi.cr offers the recent rates of most banks on their site:

Costa Rica Economic Indicators (BCCR) Index Page  Shows exchange rates.

BCCR Interest Rates for CDs  Has links to different rates at state and private banks for different types of loans and time deposits.

Have a look at this page for some different banks that have web sites:
Costa Rica Bank Web sites

[tino]

Thank you Russ, however I didn't get the information I truly needed.  I wanted to find out if someone can have a return of at least $1500 a month from a $70,000.00 deposit in a CD for 2 years or one year.  Thank you

[Russ]

According to that page the state own banks offer 4.23 % annual return on 12 month CDs.  That's only 2961 annually on a $70,000 deposit.  The private banks were a little better at 4.68% annual return, but still only  $3276 per year. 

I'm no financial expert, but it looks to me like you need a 2.14% monthly interest rate to get $1500 from a $70,000 deposit. (1500 divided by 70,000)  Which isn't readily available at banks!

That is very close to what several "money exchange" operations were offering here a few years ago - from 2.5 to 3 per cent interest per month.  Many investors lost a lot of money in these schemes, so if someone is pitching you on Costa Rica bank or government CDs you should be very careful.

[tino]

Thank you very much for the information.  Does your company offer mortgages?

[Russ]

No the brokers in the American-European Real Estate Group don't offer financing directly.  However, we can help our clients determine what financing will be best considering their personal situation.  Here is some information on general ways that people finance.

Costa Rica Mortgages: