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Interest rates down again

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tarry67


Joined: 16/05/2008
Posts: 1053

Message Posted:
26/11/2009 14:19

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Message 1 of 9 in Discussion

Turk bank now at 6% pm must be the lowest bank now I would think. Universal still 13% I was told today by my friends. Iktistat 11.5%. As bank 8.25%. I know its better than the uk so no need to post that again.



StGeorgeI


Joined: 27/08/2009
Posts: 973

Message Posted:
26/11/2009 14:26

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Message 2 of 9 in Discussion

It will continue to fall next year until it's more inline with the rest of Europe etc.



smithy


Joined: 17/07/2008
Posts: 5301

Message Posted:
26/11/2009 14:29

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Message 3 of 9 in Discussion

So is it a good idea to close my ytl Bank account now instead of January



StGeorgeI


Joined: 27/08/2009
Posts: 973

Message Posted:
26/11/2009 14:33

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Message 4 of 9 in Discussion

Not really - unless you can find somewhere else that offers better interest rates at the moment. However, interest rates will continue to fall over the next 12 months that is for sure.



smithy


Joined: 17/07/2008
Posts: 5301

Message Posted:
26/11/2009 14:43

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Message 5 of 9 in Discussion

StGeorge1 as I am leaving at the end of January I want to close my ytl account so going by what people are saying I would be better off doing it sooner rather than later



flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
26/11/2009 14:51

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Message 6 of 9 in Discussion

Smithy,



Why close them at all; leave it as late as you can to take the funds out.



Even if the rates fall you are still getting better rates than in the UK.



The only word of caution is transfering or taking money out of the TRNC is better done by a bank as you will be limited to how much money you can export on any one trip ($10,000 is I think the maximum).



fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
26/11/2009 14:59

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Message 7 of 9 in Discussion

Smithy



You also need to consider the exchange range. At the moment it is about 2.5 TL to the pound if changing TL to sterling. Depending on how much you have invested, just a small change in the rate can make a significant difference to how many 's you end up with in your pocket.



Just a thought



Paul



smithy


Joined: 17/07/2008
Posts: 5301

Message Posted:
26/11/2009 15:05

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Message 8 of 9 in Discussion

Many thanks everyone for the info



cyprusfox


Joined: 13/08/2008
Posts: 119

Message Posted:
27/11/2009 08:41

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Message 9 of 9 in Discussion

Universal is now 10%



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