Should i invest in a bank cd that pays 20% per annum net interest?

I'm in the Philippines and some banks here are offering 20% interest rates net of tax per annum and it's covered by the Philippine Deposit Insurance Corporation up to Php 250,000 per depositor. Interest is payable monthly.My cousin have already invested on it and so far is on her 3rd year.Do you think it is a good investment especially on the long term? Some banks have offered it since 1995.Should I get one too?

20% really???

I'm moving to the Philippines!!! Seriously... I could live off of 20% interest on what I have forever,... like a king considering the cost of living there...

Is this for real? Anywhere I could get more info? Can Americans move there easily (immegration laws, etc...)?

"It kind of makes me wonder what the cost of living is in the Philippines, though. When the interest rates were high here in the US, the inflation rate was totally nuts. "

Actually, I know for a fact the cost of living there is about 1/4 what it is in the USA (in American money).... Medical care is good and affordable... The people generally speak English... That's why the 20% interest really caught my attention... If it's for real... I'm gone!!!...

Sounds good to me...

Generally speaking, if something seems too good to be true, it probably is. However, if 20% APY is within the normal range of interest rates in the Philippines, I think you should consider investing. It kind of makes me wonder what the cost of living is in the Philippines, though. When the interest rates were high here in the US, the inflation rate was totally nuts.

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