Kibkom North Cyprus Forum

Does anybody know what is going on with HSBC interest rates. Last time I looked a couple of weeks ago the Turkish rate was 9.2% and the rate here was 8.7%. It is normal for the TC rate to be 0.5% less than Turkey.

Checking today, the Turkish rate has gone up to 10% but the rate here has dropped to 8.2%. That is a big differential and I can't see any possible justification.

Is it to do with the type of account, are you comparing like for like, i.e. terms, amounts, etc? Otherwise, no I don't see why you would get more from a branch in Turkey than one here, they are the same arm of HSBC. Maybe something we are not aware of, or that rates can be negotiated up for the right people. A few years ago when I threatened to take my money out of HSBC my account manager called 'head office' in Turkey and got an extra half percent or may have been a bit more.

I am in Turkey at the moment and the HSBC bank rates are the same as the TRNC.

Well the 2 websites (Turkey & TRNC) agree with me - the interest rates are different (and always have been).

The TRNC ones changed today.

Come over and try to get a better rate, HSBC in Turkey is on its way down since they told everyone they are selling the Turkish people do not trust this bank.
But if you would rather follow the advice of your web pages go ahead. I am here and I do bank with HSBC.

The internet rates & the rates you can get given in the bank are not necessarily the same - the internet used to be higher but I have not checked lately.