HSBC interest rates in Trnc

katenianholia


Joined: 30/08/2010
Posts: 29

Message Posted:
20/04/2011 12:51

Hi.

We are premier customers with HSBC in england and are considering investing £50.000 in HSBC in TRNC What I would like to know is

What account would be best --sterling or lira

Can interest be added monthly or must it be yearly

What interest rate can we achieve



Thanks in advance

Kate

Jovial_John


Joined: 31/01/2009
Posts: 1024

Message Posted:
20/04/2011 14:37

HSBC Interest rates and account durations:-



http://www.hsbc.com.tr/eng/retail_banking/interest_rates_and_fees/interest_rates.asp#id1



but these are for Turkey. The interest rates in Cyprus are 1% less because bank accounts up to 20,000 euros are guaranteed in North Cyprus - and for this reason you should not put more than that in 1 account.



It's also worth noting that you only need £40,000 to be Premier here.



Your biggest problem is the widly fluctuating exchange rates - actually not bad at the moment (2.48) so a reasonable time to buy lira - earlier this year it was down at 2.22 and it has recently been up at 2.61. So don't convert money you might want quickly - the exchange rate at the time might not be favourable.



Alternatively, you can make quite a lot more than the interest rates by swapping between currencies and for that purpose I would not go for more than a 35 day account. However, if you open a 12 month account then the interest rate is guaranteed for the perio

katenianholia


Joined: 30/08/2010
Posts: 29

Message Posted:
20/04/2011 14:44

Hi John

thanks for quick reply I will check it out

tarry67


Joined: 16/05/2008
Posts: 1053

Message Posted:
20/04/2011 15:19

I thought only turkish cypriot banks had a guarantee of 20,000 euro and not the off shore banks like turk bank, HSBC etc.

Please correct me if I am wrong.

HSBC does not pay such high interest rates as many other banks here as I believe they only give around 6% and the average bank is giving around 8% on a monthly account.

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
20/04/2011 15:59

Kate Msg 1 - best is to contact Julie the HSBC premier account manager in Kyrenia - if you want deatils please email me as I do not like giving out email addrersses in public (spam etc.)

info@flightholiday.co.uk

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
20/04/2011 16:35

mess 5 - you should have put that post in the joke section:



"I do not like giving out email addrersses in public (spam etc.)



info@flightholiday.co.uk"



Even ting and tong though it was funny !

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
20/04/2011 16:50

Nick Msg 6 - I put my business one down as that is a spam risk we have to take - I would not put out a personal address mine or anyone else’s without explicit permission as it is too likely to be abused.



I get about 4/500 spam messages a day spam to the business address (each has to be checked but I can often miss an email). On top of that about two years ago someone put my personal address in a round robin and as well as the business spam and phishing mails I get nearly a 1,000 a day to my personal mailbox! Checking all these takes a lot of time and effort so that is why I do not ask people for email addresses on the board.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
20/04/2011 16:59

mess 7 - you must be looking as some real "dodgy" websites, old fella......

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
20/04/2011 17:59

Msg 8 - TingTong?