Interest Rates Down Again

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
11/11/2009 09:15

Creditwest interest rates have dropped again.



Now 9.75% for 1 & 3 month TL accounts dropping to 9% for 6 & 12 month TL accounts.



Sterling is 4% 1 month, 4.25% 3 month, 4.75% 6 month and 5% 12 month.



Are there any considerably better rates out there ????



Paul

mamachina


Joined: 22/11/2008
Posts: 730

Message Posted:
11/11/2009 09:43

Anythings better than the 0.5 Im getting in Uk (ok I know thats on sterling!)

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
11/11/2009 10:30

Mamachina



I agree wholeheartedly.



Creditwest have consistently been one of the best banks for interest rates but I was just wondering if anybody is getting a better rate elsewhere ??



Paul

Mindy



Joined: 27/10/2008
Posts: 1210

Message Posted:
11/11/2009 11:19

Iktisat was 10.5 in lira last time I was in, don't know iif it has dropped yet.

kazbo


Joined: 05/04/2009
Posts: 208

Message Posted:
11/11/2009 13:14

Continental 12.5%

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
11/11/2009 13:24

Kazbo



Is 12.5% for Continental the current rate ?? If so that is a big difference.



Paul

jacktheladett


Joined: 01/07/2008
Posts: 528

Message Posted:
11/11/2009 16:00

Is the creditwest rate for any sum invested?

kazbo


Joined: 05/04/2009
Posts: 208

Message Posted:
12/11/2009 08:17

Yes



that is TL for monthly account. It went from 13% in June, then dropped to 12 %, then last week they changed my book and put this back to 12.5%

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
12/11/2009 11:00

The rates for Continental Bank are still in effect.



TL rates

1 Month/Ay 12.50%

3 Months/Ay 12.50%

6 Months/Ay 12.75%

1 Year/Yıl 13.00%









STG EURO DOLLAR

1 Month/Ay 5.00 5.00 4.50

3 Monthly/Ay 5.50 5.50 5.00

6 Monthly/Ay 6.00 6.00 5.50

1 Year/Yıl 6.50 6.50 6.00





if you have any queries please call me on (0392) 822 4359



Tyra

dumpling


Joined: 27/08/2009
Posts: 49

Message Posted:
12/11/2009 13:40

Hi Tyra did you receive my email yesterday???

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
12/11/2009 14:22

Sorry no l didn't re e-mail please



t.abdullah@kibriscontinentalbank.net

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
13/11/2009 09:41

Closed my account in Ireland last week, on a very large amount i was getting.....0.15%, less than 1 sixth of a percent.

jacktheladett


Joined: 01/07/2008
Posts: 528

Message Posted:
13/11/2009 10:26

How can Continental offer rates that high when the bank base rate is around 7%?

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
13/11/2009 11:02

Must be loads of people with Continental, anyone had any problems with them ?

Lazy days


Joined: 24/07/2008
Posts: 847

Message Posted:
13/11/2009 11:05

Absolutely no problem and Tyra is one of the best lovely lady and speaks perfect english

MarkVPiazza


Joined: 14/08/2008
Posts: 530

Message Posted:
13/11/2009 11:22

What are the big triangle shaped things in Giza called again ?



Mark

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
13/11/2009 11:26

It is a simple case of supply and demand.

Those that are a risky lending prospect will have to borrow money at a higher interest rate from banks with 'liberal' lending policies than those banks that are more prudent about whom they loan money to.

Now whilst times are good the 'Liberal' banks will entice investors with higher interest rates (targeted at expat savers) but if their 'risky' loan customers default on their high interest loans then you will start to see (and is already happening) land and property repo's. Now whether these banks can cover their costs or not with repo's remains to be seen.

Now where have we seen this all before (oh yes prime mortgages in the UK and America come to mind.)

Just be careful with your money and if you are chasing the high interest rates on savings then do a bit of homework first. My advice would be to to invest in the strongest banks in the TRNC and suffer the lower interest rates if you can afford to.

AJ

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
13/11/2009 11:44

Sorry but disagree with m17..nothing to do with supply and demand...think it is all to with, Turkey trying to get into EU.....must have money under control, including, rates.....they are only going one way.

Lock in for 12 months for best rates, or buy / sell exchange rates, will make far more over the year...is my advice..

jacktheladett


Joined: 01/07/2008
Posts: 528

Message Posted:
13/11/2009 14:27

It would be handy to get the answer from Girne/Tyra herself.

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
13/11/2009 15:01

Well I am sticking with Creditwest you get service with a smile, never kept waiting too long, always helpful and English speaking. Also kept informed of the interest rates by e-mail so never any problems.

Chris

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
13/11/2009 19:10

Nurseawful



Agree with you that Creditwest service is exceptional. However, Continental are offering 2.75% p.a. more - For me that is a few thousand pounds in additional interest !! I value good service, but as to how much I value that service !!! Need to have a good think about it !!



Paul