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2% tax on CD's interest rates ?


#1  2012-06-05 15:24:33

FromMontrealWithLove
Active member
From: Cuenca
Registered: 2012-02-03
Posts: 28

2% tax on CD's interest rates ?

Is anyone familiar with a 2% ''Finance Performance Tax'' collected at the end of a CD term ? This appeared in small print on a cooperativa web site. Was never mentionned to me when I was shopping for rates! Thanks




 
 
 

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#2  2012-06-06 16:02:09

3lckr
Contributor
3lckr
From: Quito
Registered: 2010-11-28
Posts: 193

Re: 2% tax on CD's interest rates ?

Nope, my CD's matured and I was given a choice of withdrawal or renewal, some I withdrew, no other charges occurred. I'd stay away from cooperativas, maybe they give you a little higher rate, but for me they all have a face of that "friendly" neighbor that borrows 5 bucks and then gives mañana for a year... just my opinion.




 
 
 
 
 
 
 
 

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#3  2012-06-06 18:17:54

FromMontrealWithLove
Active member
From: Cuenca
Registered: 2012-02-03
Posts: 28

Re: 2% tax on CD's interest rates ?

Thank you 3lckr. Was your CD with a cooperativa? Which one? Mitri




 
 
 

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#4  2012-06-06 22:25:31

3lckr
Contributor
3lckr
From: Quito
Registered: 2010-11-28
Posts: 193

Re: 2% tax on CD's interest rates ?

No, I've had CD's in big banks: Pichincha, Pacifico etc., only each kept under 20K for safety.




 
 
 
 
 
 
 
 

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