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Interest rates drop again!!

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mark&beck



Joined: 08/01/2009
Posts: 303

Message Posted:
04/05/2009 16:10

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Message 1 of 5 in Discussion

Latest rates from creditwest:



For TL

1 month 13%

3 months 11%

6 months 11%

1 year 12%



Better rates anywhere else?



Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
04/05/2009 16:16

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Message 2 of 5 in Discussion

limasol bank 21 % i was told, not been in yet !!



Kibris


Joined: 07/11/2007
Posts: 372

Message Posted:
04/05/2009 17:33

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Message 3 of 5 in Discussion

Surely you have that wrong? 13% for a month, but only 12% for a year?



joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
04/05/2009 17:55

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Message 4 of 5 in Discussion

It's often a lower rate for a year as the bank is committing itself for 12 months and cannot take advantage in further cuts in the rate. Obviously works the other way as well but I have seen this with other banks.



lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
04/05/2009 18:15

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Message 5 of 5 in Discussion

Kibris



That will be 13% p.a. but you will only get that rate for one month so ineffect your money will increase by just a little over 1%



It would sem that the long term rates are on the decline



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