What do you like the most in Costa Rica?

I'm buying a villa on Tabor beach,Nicoya.Is it true that banks in Costa Rica pay 8 to 10% interest on the deposits? Do I have to be a permanent resident to open a bank account? Is one bank safer than others?Thanks
Rajen,Texas

Sorry to disappoint you, but you won't get anything like your hoped for interest rate.
Once a legal temporary resident, (not a permanent resident as this takes can take 5 years) you can get a decent interest through one of the private banks when purchasing a CD...and then it is a colones account, not dollars.

You don't have to be legal resident to open a bank account, but it may not be easy. You may have to open an account at one of the  private banks and at your location you won't have many choices  for doing transfers and payments to other banks, as until a legal resident you can't transfer funds electronically to another bank.

Thanks.What is decent interest rate? We don't get any interest in USA.How long it takes to become legal temporary resident?

What is decent interest? 5%? We get almost 0 interst in USA. I can spend colones locally so that's not a problem.

Sorry,  but I don't have recent information on what they are paying.
Check out this private bank.
Banking information here is shared with the US and when depositing/transferring funds you will be required to provide a lot of information to where your funds originated from.

Thanks. I will be reporting my interest to IRS in USA since Obama has passed the new law called FATCA,Foreign assets tax compliance act. I can spend colones when I'm in Costa Rica for 4 months or longer. Thanks for the info.

Rajen, you may want to read the many posts  regarding obtaining residency elsewhere on this forum, where it is reported that some have been waiting for over 18 months for residency. This is not unusual.