Comments on: Best CD Rate – 4/10/08 http://www.jumbocdinvestments.com/cd_rates_blog/2008/04/best-cd-rate-41008/?utm_source=rss&utm_medium=rss&utm_campaign=best-cd-rate-41008 Your Bridge To Banking Success Thu, 12 Jan 2012 15:23:05 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Administrator http://www.jumbocdinvestments.com/cd_rates_blog/2008/04/best-cd-rate-41008/#comment-36 Administrator Wed, 18 Jun 2008 13:34:40 +0000 http://jumbocdinvestments.com/cd_rates_blog/2008/04/10/best-cd-rate-41008/#comment-36 Peter, I tried to get to the Phillipines Deposit Insurance website, but it wouldn't open. Although, I did find mention of the PDIC in a Wikipedia article. I'm always leary of things that sound to good to be true. Peter,

I tried to get to the Phillipines Deposit Insurance website, but it wouldn’t open. Although, I did find mention of the PDIC in a Wikipedia article. I’m always leary of things that sound to good to be true.

]]> By: Peter Hoogveld http://www.jumbocdinvestments.com/cd_rates_blog/2008/04/best-cd-rate-41008/#comment-35 Peter Hoogveld Tue, 17 Jun 2008 14:00:03 +0000 http://jumbocdinvestments.com/cd_rates_blog/2008/04/10/best-cd-rate-41008/#comment-35 I love high <a href="http://themoneymakers.org/englishindex.html" rel="nofollow">CD rates</a> and I found one: 18 percent Tax Free and insured by the FDIC in the Philippines. But, to be honest: I don't fully trust it. The banks are located in a poor country while I live in the Netherlands. But a friend of mine, also a Dutchman, almost convinced me to take the step. He invested in the same cds in 2002, collected 18% per year and got back his deposit in 2007. The point is that consumers in the Philippines don't mind paying 3% interest per month on loans. These are teachers and farmers and the like. That's a whopping 36% per year ! Of course these banks can easily pay 18% per year. I discovered that the Philippines currently have a very solid banking system and that most banks are much richer than in my country, the Netherlands and in Europe. I have seen annual reports of rural banks showing assets worth billions of Pesos. Logical, because when the customer can't pay back the loan, a collateral is foreclosed by the bank, mostly house and lot. But even now I'm still in doubt. Can anyone advice me on this ? I love high CD rates and I found one: 18 percent Tax Free and insured by the FDIC in the Philippines. But, to be honest: I don’t fully trust it. The banks are located in a poor country while I live in the Netherlands. But a friend of mine, also a Dutchman, almost convinced me to take the step. He invested in the same cds in 2002, collected 18% per year and got back his deposit in 2007. The point is that consumers in the Philippines don’t mind paying 3% interest per month on loans. These are teachers and farmers and the like. That’s a whopping 36% per year ! Of course these banks can easily pay 18% per year. I discovered that the Philippines currently have a very solid banking system and that most banks are much richer than in my country, the Netherlands and in Europe. I have seen annual reports of rural banks showing assets worth billions of Pesos. Logical, because when the customer can’t pay back the loan, a collateral is foreclosed by the bank, mostly house and lot. But even now I’m still in doubt. Can anyone advice me on this ?

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