Now open in karalanaglu

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
15/10/2008 12:04

Continental bank 20% + interest on your ytl.

Traveller0392


Joined: 21/03/2008
Posts: 186

Message Posted:
15/10/2008 15:27

Hi,



Isn't that the same rates the Icelandic banks were offering?...... Offer high rate for foreign investors ........ good inflation......... very attractive.... too good to be true perhaps?



Lira rate this afternoon at 2.44 to the pound.....



what's 20% of nothing?

paul90


Joined: 07/11/2007
Posts: 350

Message Posted:
15/10/2008 16:27

Of course 20% is before they take off about 8% for tax.

You might get 12% net - but if the YTL goes from 2.4 to 2.7 (like some on this forum predict) then any gain would be wiped out if you wanted to change back to Sterling later.

Would I invest 100000 YTL? - Not at the moment, too many uncertainties.

come_on_aylin


Joined: 14/06/2008
Posts: 908

Message Posted:
15/10/2008 16:39

I agree with your sentiments Paul but not with your math. It's 18.4% net, the tax is on the interest earned. £100 x 20% = £20 less 8% tax = £18.40.

paul90


Joined: 07/11/2007
Posts: 350

Message Posted:
15/10/2008 16:51

Good point - I had fogotton that.

Therefore you would just be on the positive side - but still risky.

come_on_aylin


Joined: 14/06/2008
Posts: 908

Message Posted:
15/10/2008 17:11

Definitely risky - higher the interest, higher the risk.

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
16/10/2008 10:48

money guarenteed by the trnc gov ? what a joke!