Kibkom North Cyprus Forum

Can anyone tell me which bank offers the best interest rates at the moment.
Also how does it work. for instance, if you put a lump sum in a high interest savings account, say £50k, what could you reasonably expect to get each month?

Laymans terms only please

I think around 2% monthly. You can get a little more if you put it in for say a year but I would advise you to make the calculations on the interest being paid monthly then being compounded eg interest on interest and then risk assess having your money tied up for that long notice period

Daisy Dukes wrote: ↑

Fri 12 Jun 2020 10:26 am

Can anyone tell me which bank offers the best interest rates at the moment.
Also how does it work. for instance, if you put a lump sum in a high interest savings account, say £50k, what could you reasonably expect to get each month?

Laymans terms only please

I've said this before and in view of what is happening in Turkey will say it again.

If you want exposure to Turkish interest rates open a Turkish lira account in the UK where you have your money safeguarded up to £85k.

If you are happy to put a lump sum such as this into what amounts to a Christmas club - at least be aware of the risks.

Daisy Dukes wrote: ↑

Fri 12 Jun 2020 10:26 am

Can anyone tell me which bank offers the best interest rates at the moment.
Also how does it work. for instance, if you put a lump sum in a high interest savings account, say £50k, what could you reasonably expect to get each month?

Laymans terms only please

If you have £50k available then buy a flat and rent it out at £300 per month, then put that away every month. In my opinion.

Unfortunately it's not for me...I can only dream of such a sum, but I shall pass on these details. Thank you all.