Kibkom North Cyprus Forum

Which bank gives the best rate for Sterling deposits? Not a big amount so will attract only the base rate and just a monthly deposit. HSBC offers 1.7% - anywhere better?

26% apr.

Please contact me direct for more information.

I am sure most are aware but as a general reminder please ensure that investing money whether that be in small or large amounts is at the discretion of the investor. Before investing please do ensure that due diligence is carried out to protect not only yourself but also your money.

Posh

"Due Diligence",.... in TRNC??

Are you having a laugh?

TRNC Banks are probably as capable of passing any Bank Stress Test as any in UK/EU.

come-on-aylin, speak to TRNC Banks such as Creditwest directly. They will usually offer you rates far better than their 'published' rate.

Everything here is 'barterable'.

Owl

My posting was just a general reminder, that is all. As a matter of course everyone should perform due diligence, its common sense.

Posh

I was pointing out that 'Due Diligence' means diddly squat in the TRNC.

Any 'newbie' should be made aware of that.

fxtrnc wrote:26% apr.

Please contact me direct for more information.

26%???

That's ridiculous!

Even if it's a 'Typo' it means that the person who wrote the post cannot be relied upon in terms of accuracy - who on earth would entrust an investment to someone who can't even get an interest rate written down correctly? - let alone someone who is anonymous, whose name, history, and intentions we do not know?

Do your own 'Due Diligence'...

All

The point I am trying to make is that everyone should do their own checks/due diligence before proceeding.

For me that applies wherever you are and whatever you are looking to purchase, invest in etc. It applies all over the world, the UK and even more if you are new to the TRNC. Whether the purchase is something small like a TV, Computer etc or maybe larger like a car or property or even investing money with a bank or other financial organisation the principal is the same. Carry out the necessary checks beforehand in order to reduce the risk of buying a dud, using a poor provider or losing an investment.

It just makes sense to me and to laugh at these checks/due diligence seems somewhat strange to me.

Many people on this forum have posted asking about trades people, shops, restaurants, car sales, advocats, builders etc....requesting feedback on others experiences. This is a basic form of due diligence....carrying out some checks before proceeding. The higher the costs and risk involved the more checks and research that needs to be carried out.



Simples.

Iktisatbank can provide good interest rates on currency as well as Turkish Lira in addition to which we we offer you a Multi Cultural Banking service at 4 branches in the Kyrenia area and 2 in Famagusta, we also have English and Russian speaking representatives at our Call Centre to assist you with any queries.
For details of our interest rates please email mcb@iktisatbank.com.

When you are choosing a bank, we understand there are many factors you need to take into account as part of your decision, as well as standard investment time deposit accounts we also offer the option for you to invest in fixed income securities, both government and corporate, such as Eurobonds and Treasury Bills, if you already have these with other banks they can be transferred hassle free to Iktisatbank.

Kind regards
Natalie

CapitalBank - 5%