Thread: Bank interest 7% annual paid on monetary investment

Hi
I was informed by an online site that some banks in Panama pay 7% a year on invested money

Is this true? how easy is it to set up an account? What risks are involved? can you recommend the banks offering this rate?

The site i was looking at is apparently a law firm that specialises in setting up these accounts/companies etc in Panama.


Hope you can help

That info is a couple years old. You can find 5% on terms over 3yrs if you look hard enough but it's not too common. There are institutions that will pay you that percentage, but I would recommend a LOT of research and spend a little time in country before going that route.

Ask them if they referred clients to Stanford Bank before (ask for an answer in writing). Panamanian lawfirms referred millions and millions to the Antigua branch and every single dollar was lost. They did this for the 1-2 % kickbacks while enjoying the due diligence free relationship (and of course corporate jets and lavish vacations).

Originally Posted by niceguy

Hi
I was informed by an online site that some banks in Panama pay 7% a year on invested money

Is this true? how easy is it to set up an account? What risks are involved? can you recommend the banks offering this rate?

The site i was looking at is apparently a law firm that specialises in setting up these accounts/companies etc in Panama.


Hope you can help