Kibkom North Cyprus Forum

I was just wondering what rates the other banks are giving now as limassol are now 8% and As bank have dropped to 7.5%.

Universal have dropped to 8% from 9

Creditwest gave 8.25 last week

Just been to limassol bank they have dropped to 7.25 on the next interest day. Can't believe what's happening losing 30% capital and now interest rates are dropping, soon the lira will be worthless.

7.25% what would you do in the UK with 0.05%.Think on the bright side. No heating bills in Summer, friends in UK had central heating on in July. Virtually no Poll Tax or what ever it is called this year. Long hot sunny days, Blue skies every morning you wake up, no rain, dining al fresco, I could go on!!!

You could always switch to a sterling account until it regularises itself. That's what some of the locals are doing. I watched that today in a bank. I also watched a local in an exchange today with shed loads of 100tl notes and have them changed into Euro.

The new Capital Bank is offering around 10% on monies over 100,000tl. Or even slightly more! Their branch in Girne is near HSBC and I believe they are opening a branch at Catalkoy.

This is strictly for info, cos I cannot raise that amount of money, but when I win the lotto, well...................................but I received tha tinfo today. Could be worth investigating. Also it might be worth findingout what Nova Bank and Near East are offering. Does anyone know.

The more money you can put in the higher the rate.

Yes, a Cypriot I know said yesterday she had changed loads of TL into sterling,and even though she knew she was losing money, thought it safer to have it in sterling.

I realise the business of 0.05% in UK, but it's still possible to get 3.25% if you really search around. End of last year I moved some money to a 6 month account with Tesco. Even if you were only getting 0.05% with a building society, its best to keep badgering them, because they won't inform you of better rates. As one Society told me when I visited their offices last July, "off the record, we don't get in touch with you because it suits us to keep paying you 0.05%, but people just seem to put their money and virtually forget it"!! At least she was honest.

Iktisatbank are giving 8 1/2%

Stella is that on a monthly or 3 month account, and how recent was this rate as mine was 8% last month but now 7.25%. Limassol pay 7.25 for a monthly account and 8% on a 3 month account so hardly worth changing over.
My friend gets 10% at credit west on a 3 month account, he did last month anyway.

As of just now - 3.40 pm - it says at Iktisatbank, 31-90 days 8 1/4, 91-180 days 8 1/2 and 181 -365 8 3/4

TEB are paying decent rates and, importantly to me anyway, are a large and financially strong Turkish bank. I am getting 8.6% on one month and 9.00% on 3 months. I believe that they are also do an introductory rate of 10.6 for the first month on 'new' money. Speak to Seran at Girne branch - very helpful lady with perfect English.