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current interest rates in trnc

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lazerlight


Joined: 13/04/2009
Posts: 13

Message Posted:
16/04/2009 09:21

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Message 1 of 22 in Discussion

Could anyone give me the current (average) interest rate for banks in trnc we have put our house up for sale in uk and are wanting to move out there permanantly ( retire) so interest rate is important factor I know there is variation between banks but I believe average to be around 10%. plus any feelings as to if and when it may head back up towards 15%



catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
16/04/2009 09:23

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Message 2 of 22 in Discussion

depending how much you are investing, you can still get 20%



lazerlight


Joined: 13/04/2009
Posts: 13

Message Posted:
16/04/2009 09:28

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Message 3 of 22 in Discussion

Thanks catalkoykid should have around 120,000 when all sorted any ideas what I would get for this amount and how secure the banks offering 20% are .If any bank could be classed as secure these days



catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
16/04/2009 09:37

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Message 4 of 22 in Discussion

you can get 14% in hsbc with that amount, creditwest prob 20% i use hsbc because of sercurity with internet banking,creditwest keeps saying they are getting theres sorted



lazerlight


Joined: 13/04/2009
Posts: 13

Message Posted:
16/04/2009 09:45

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Message 5 of 22 in Discussion

Thanks very much



girne


Joined: 14/01/2009
Posts: 438

Message Posted:
16/04/2009 11:50

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Message 6 of 22 in Discussion

We at the Continental Bank are offering 14.5% (monthly) for a 50,000 TL investment. This of course will differ depending on your investment capıtal.

You can also invest your monies for a year and still withdraw your monthly interest as long as the capital remains with us for the period notified.



Sterling at present is 5.5% monthly





YTL Monthly %

Up to 50k 14.5

50k to 100k 15.0

100k to 200k 15.5

200k + 16.0



STG EURO DOLLAR

1 Month 5.50 5.50 5.00

3 Monthly 6.00 6.00 5.50

6 Monthly 6.50 6.50 6.00

1 Year 7.00 7.00 6.50





Call me if you would like to speak about the investments we offer on

Mob : 05338417388

Landline : (0392) 822 4359



Tyra



MarkVPiazza


Joined: 14/08/2008
Posts: 530

Message Posted:
16/04/2009 14:06

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Message 7 of 22 in Discussion

Lazerlight



The LIBOR rate for is approximately 1.5% for 3 months, i.e one bank will lend another bank British pounds for 3 months at an interest rate of 1.5% p.a.



If any bank offers a customer more than this rate, you must ask yourself why the bank doesn't just borrow the money from another bank at the cheaper rate.



Why would you pay 6% when you can get it for 1.5%?



Mark



jay76


Joined: 17/07/2008
Posts: 532

Message Posted:
16/04/2009 14:12

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Message 8 of 22 in Discussion

How much does 50,000 stg return you monthly



keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
16/04/2009 14:25

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Message 9 of 22 in Discussion

Whats the Turkish libor rate though ????



rtddci


Joined: 29/12/2007
Posts: 842

Message Posted:
16/04/2009 14:31

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Message 10 of 22 in Discussion

lazerlight

Be aware that banks have gone to the wall in the UK, so the same could happen in the TRNC with no guarantee of a government bailout (as in UK) that I know of and even if there was, how long before you got your money back? Can you afford to lose it? How long can NC banks keep offering these high interest rates when no other country that I'm aware of, is?

Think very long and very very hard before committing to retirement in NC. Hate to be negative but life is not all a box of chocolates in NC by any stretch of the imagination. Research, research, research, after all you and your retirement is worth that.



MarkVPiazza


Joined: 14/08/2008
Posts: 530

Message Posted:
16/04/2009 14:46

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Message 11 of 22 in Discussion

Seems to be either approx 10.5 or 11% (could be lend / borrow rates)



http://www.trlibor.org/trlibor/english/



Mark



catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
16/04/2009 16:07

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Message 12 of 22 in Discussion

hiya mark still babbling on about the end of the world with the lira, 5 to the pound lmfao



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
16/04/2009 16:23

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Message 13 of 22 in Discussion

catalkoykid....would'nt that be great, waiting for rate to go up a bit before going in with a decent amount.



catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
16/04/2009 17:19

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Message 14 of 22 in Discussion

eager thats what you should do, better having your money here, waiting getting 5%/6% why you are waiting.



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
16/04/2009 18:10

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Message 15 of 22 in Discussion

kid,...... Most banks have said better to open account in person, but cheque will take 3-4 week to clear , one bank said they can do it over net via international transfer takes 2/3 days to clear , this is better for me as i cannot get over till mid-may. will open in 4 banks to spread the risk. Any info ?....thanks. Eager.



KARY44



Joined: 30/04/2008
Posts: 326

Message Posted:
16/04/2009 18:51

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Message 16 of 22 in Discussion

Today

Creditwest 13%

Garanti 12%



lazerlight


Joined: 13/04/2009
Posts: 13

Message Posted:
16/04/2009 19:18

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Message 17 of 22 in Discussion

rtddci, Thanks for the comments re research research etc which I intend to do. Have I read somewhere on this site that 20,000 is guaranteed should a bank go under.

Is that right and if so is it ,s or TL .

I realise that other mans grass is always greener but life is not even a mars bar here never mind a box of chocolates



scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
16/04/2009 19:33

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Message 18 of 22 in Discussion

The guarantee is for 20,000 (euros) per account in any bank. eg As many accounts as you like with each bank are guaranteed by the TRNC Central Bank as long as the 20,000 limit in each account isn't exceeded.



lazerlight


Joined: 13/04/2009
Posts: 13

Message Posted:
16/04/2009 19:38

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Message 19 of 22 in Discussion

Thanks scruff



fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
16/04/2009 20:19

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Message 20 of 22 in Discussion

Turk Bankasi 9.5% today

Regards

Paul



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
17/04/2009 15:16

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Message 21 of 22 in Discussion

Is it possible to open a bank account from england prior to going out ?



john1234


Joined: 20/04/2009
Posts: 321

Message Posted:
22/04/2009 08:06

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Message 22 of 22 in Discussion

Hi Tyra,



Are any of the monies invested secured by the govt.?

Also, please send me your web site link.



Thanks!



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