On an obscure Expat.com thread concerning
potential USA debt default, a poster suggested
investing in a Certificado de Depósito
de Término (CDT) at one of the Colombian
financial institutions.
According to a list e-published at rankia.co,
Banco de Occidente offers the highest CDT annual
rate of return in 2023 of the institutions listed, at
16.90 percent (holding for 90 days; theoretically,
holding for 360 days could produce a higher APY).
If you have invested in a CDT in Colombia, please
share your experience.
Questions for those in the know...
Is a Colombian cédula required to invest in a CDT?
Can an Expat with an Ecuadorian cédula invest in such
while living in Ecuador and visiting Colombia
for this purpose?
Apparently, an individual's investment is insured by
a government-designated agency up to the equivalent
of $11,049 USD per CDT. For instance, two CDTs can be
purchased for $22,098 total, possibly at two banks or
institutions, with full insurance. Any comments
on this concept?
cccmedia
The figure $11,049 was derived by visiting the
xe.com website and requesting the equivalent
of 50 million Colombian pesos, which apparently
is the automatically-insured maximum per CDT
at qualified institutions.