FAQ

Frequently Asked Questions

Download Useful Tool: Should I switch my current CD to an RSAL CD? (xls, 22Kb)

Q: How can I withdraw money from my account?

A: You can do it in cash in person, by means of wire transfer or through a credit card.

Q: How can I deposit money to my account?

A: You can do it in cash in person, by means of wire transfer or by mailing us a check. A preferable method is the wire transfer, because it is the fastest and the safest way.

Q: What is the minimum amount to open a CD?

A: The minimum amount is $10000 . For amounts of $50000+ it is possible to arrange interest payments on a monthly basis.

Q: How can you offer rates of return, higher than those on the market?

A: Our current mortgage rates are from 12% upwards, and there is a very strong demand for the loans. By keeping our overhead costs low, we are able to offer you better rates of return and still make money.

Q: What date is used as a start date for my deposit?

A: We use the date the wire transfer is credited to our account.

Q: Would you please sent me a example of how the interest is calculated. If you can provide a break down that will be great. Ex: 10,000 for 4 year. What would be the interest that I would earn.

A: Interest for your deposit will be added on an annual basis, and it is not capitalised, but rather send to you in a form of check (or wire transfer, if you prefer), much like with treasury bonds and a coupon payment. That means, that at our current rates,for USD 10000 for 48 months, you will be receiving four checks of $645 each ( at 6.45% p.a.) after 12, 24, 36 and 48 months from the start date of your deposit. This rate is very attractive and we do expect it to go down in the future due to weak economy, but if you choose 48 month period, the rate stays the same all the time. At the end of your deposit you can choose if you want to renew at the rates, that are valid at that time.

Q: Do you report to the USA government on the interest earned?

A: We do not, since we are not required by law.

Q: Can I sell my Certificate of Deposit?

A: Yes, you can always sell your CD to RSAL or to a third party.

Q: What is the difference between Saving Bonds and Certificate of Deposit?

A: Saving Bond is an investment instrument, as well as Certificate of Deposit. Both guarantee a repayment of principal and interest after some period of time. However, a Certificate of Deposit has one major advantage over a Saving Bond - that is, it is insured by the insurance fund.