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THE RATE OF INTEREST IN CYPRUS

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THE RATE OF INTEREST IN CYPRUS

Postby ramish7 » Tue Nov 08, 2011 10:17 am

HALLO

I like to ask if anyone knows what is the monthly rate of interest that one can get on deposing a large amount of money (about 300000 euro) in banks in Cyprus. Also if anyone can recommends a good bank.
I thank you for your answers
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Re: THE RATE OF INTEREST IN CYPRUS

Postby Sotos » Tue Nov 08, 2011 10:26 am

About 4.5% per year, maybe a bit more. Try Hellenic Bank first, then Bank of Cyprus.
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Re: THE RATE OF INTEREST IN CYPRUS

Postby Get Real! » Tue Nov 08, 2011 10:46 am

Like in all countries there are various account types offering all sorts of pros and cons but all accounts basically revolve around how fast and how often you’ll want access to that money.

For example, if you don’t plan to use that money any time soon or very often then you might consider a notice savings account. ie: a moths notice prior to any withdrawals.

However, if you’re not going to touch a sizable amount of that money for say 6 months or more, then consider a fixed rate bond for that amount for the highest returns.

As for their rates, why don’t you ask them (shop around) via their websites from this list…

http://en.wikipedia.org/wiki/List_of_banks_in_Cyprus

Tell them the amount, how often you plan to access it, and for how long you plan to keep the money there beforehand in your first message to save everyone time and get quick and accurate responses.
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Re: THE RATE OF INTEREST IN CYPRUS

Postby Get Real! » Tue Nov 08, 2011 10:47 am

Sotos wrote:Try Hellenic Bank first,

:lol: :lol: :lol:
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