As of 1/24/12

Name of Institution – Banco del Pichincha (www.pichincha.com)

Location – Bolivar 7-51 y Luis Cordero – contact Alex Vinueza Lafebre (business exec)

Minimum Required Deposit – $500

Only passport needed to open an account.

CD Duration and Rate                                   Chase Bank (same duration)

(assuming $5,000 invested)

30 Day – 2.00%                                                      0.0%

60 Day – 2.25%                                                      0.0%

90 Day – 3.00%                                                      0.0%

120 Day – 4.00%                                                     Not Available

180 Day – 4.25%                                                     0.20%

365 Day – 4.50%                                                     0.25%

Invest $5,000 with no additional investment by end of year 10

$7,765 in Ecuador, $5,126 at Chase Bank

Invest $10,000 with no additional investment by end of year 10

$15,530 in Ecuador, $10,253 at Chase Bank

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One response »

  1. just make sure your account has constant movement; because if it happens to go into a dormant state, you will be ripped off. My parents lost $5000 in Banco Pichincha. Their money was removed by an employee who hooked up with another employee from Banco Central and cleaned out their savings. My parents are retired living on a pension!!! So make sure you check it out!!!!

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