sterling accounts in North Cyprus

old and tired


Joined: 29/07/2008
Posts: 3

Message Posted:
29/07/2008 16:03

I am moving to Kyrenia in Nov have rented house for 1 year to be sure that I like it.I want to open a bank account with a large turkish bank.Sterling bank

account does anyone know the interest rates .I have tried to get e.mail address foe Garanti bank without success does anybody know it?

I would be reluctant to put a large sterling sum in the small local banks.



old and tired

paul90


Joined: 07/11/2007
Posts: 350

Message Posted:
29/07/2008 16:11

see

http://www.cyprus44.com/forums/1529.asp

or just click on Banking below forums

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
29/07/2008 17:04

You will get somewhere in region of 5% less tax on sterling accounts.

Chris


Joined: 26/03/2008
Posts: 454

Message Posted:
29/07/2008 21:22

Garanti does sterling and lira, they give you both automatically, the sterlling one is 5% and the high interest lira is (was - 2 months ago) 18%



Chris

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
29/07/2008 23:10

As you are living for a year, I would seriously consider transfering part of your funds into YTL. Then you can get rates in excess of 18%.



You need to manage the exchange rate to get best options but certainly worth a look at. As we live permanently we have our savings in ytl to satisfy our household needs.