We are all concerned about extending what we have financially into the future. If you are starting late or just looking for a higher rate of return, why not consider investing in Ecuador? This post is inspired by a comment I saw on a blog asking about CD (certificate of deposit) rates in Ecuador. The response was a bit vague, so I have decided to make it my mission to go into the banks here and get the real deal.
The pages under this heading will be updated periodically, as I get more information; however, it is all accurate as of the dates given. Next to the posted rates, I am listing the current rates at Chase bank (in the USA) as of the same date (min. deposit is $1,000). For those that do not understand the numbers, at the end of each bank entry I provide a line that shows what happens if you invest $5,000 over 10 years and $10,000 over 10 years based on the 366 day/1 year rates (assuming the given interest rates are constant).
All accounts are held in US dollars as this is the national currency of Ecuador. Also note, when going into a bank to discuss CDs, the department that handles this is called Inversiones (investments) and the word for interest rates is Tasas.