INTEREST RATES for savings accounts

mikeythespark



Joined: 10/11/2009
Posts: 224

Message Posted:
28/07/2010 13:54

Can anyone tell me the best interest rate going at the moment with the banks, for Tl please

Thanks

Mary, wife of Sparky

jimmykibris


Joined: 20/07/2010
Posts: 151

Message Posted:
28/07/2010 13:58

9% at credit west

Jefferson


Joined: 17/05/2010
Posts: 360

Message Posted:
28/07/2010 14:04

9.5% at Iktisat

mikeythespark



Joined: 10/11/2009
Posts: 224

Message Posted:
28/07/2010 14:29

I have heard Seker bank is doing good rate does anyone have telephone number as I can't find any contact details on the forum or buzz book.

Thank you all

keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
28/07/2010 15:02

Cyprus Yellow pages says: -

http://www.cypyp.com/databanks.htm

jimmykibris


Joined: 20/07/2010
Posts: 151

Message Posted:
28/07/2010 15:06

Buzz book http://www.thebuzzbook.com/

mikeythespark



Joined: 10/11/2009
Posts: 224

Message Posted:
28/07/2010 15:20

Thanks Keith,

Just spoke with them and they are offering 9.75 per month, and 9.25 every 3 months!!! No that is not a typing error !!! always thought the longer you put your money in the better the rate, but apparently not so!!

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
28/07/2010 17:01

Re 7

If a bank believes that interest rates are going to go down in the future they can and do lower their long term rates to protect the bonuses of the executives.

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
28/07/2010 17:13

msg 8. rates have not gone down since February/March. In fact some Banks have increased the monthly rate very slightly.

msg 3 & 7

Some banks give tiered monthly rates depending on your total deposit & others don't. Iktisat & Seker are in the former category. So the rates quoted here will not apply for smaller deposits.

keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
28/07/2010 19:18

mikeythespark,

Just so that we're talking about the same thing...

That would be 9.75 per ANNUM on one month deposits, and 9.25 every per ANNUM on 3 months deposits - yes?

The risk is, of course, that if you stay with the monthly deposit account rate, it could be 6% next month and then 4% the month after...

THEN you'd wish that you'd stayed with the 3 monthly deposit account

All you need is either a crystal ball, or nerves of steel !

mikeythespark



Joined: 10/11/2009
Posts: 224

Message Posted:
28/07/2010 19:23

You are right Keith, it is a gamble either which way you go, had to close a garanti account as needed some dosh and when I went to re open they had dropped from 9.75 on a 3 month account to 9.4% for the same, so maybe something is afoot.

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
30/07/2010 16:10

Re 9 and 11



(In short interest rates are not likly to be going up just yet in the TRNC)



July 27 (Bloomberg) -- Turkish stocks rose to a record high after the central bank lowered its forecast for inflation this year, raising speculation the central bank will delay rate increases....



Turkey’s central bank revised its forecast for year-end inflation to 7.5 percent from the 8.4 percent it predicted in April, Governor Durmus Yilmaz said at a news conference in Ankara today. The central bank foresees at “limited rise” in the benchmark interest rate next year, Yilmaz said.

“Lower inflation means the central bank won’t raise interest rates, and banks will benefit from it this year,” said Altug Dag, a trader at EFG Istanbul Securities. “Improved bank earnings expectations are also adding to gains.”

Herry00


Joined: 11/10/2010
Posts: 1

Message Posted:
12/10/2010 15:31

You can check the interest rates at http://www.bankrate.com