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Cyprus Eastern Forum Index » General » Interest rates
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Interest rates 
Post: #1   PostPosted: Fri Jul 12, 2019 9:38 am Reply with quote
kokkinos
Joined: 14 Oct 2005
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Location: oroklini

 
Hi not easy to find best bank rates in cyprus ,any one recommend some please
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Re: Interest rates 
Post: #2   PostPosted: Fri Jul 12, 2019 9:42 am Reply with quote
FSB Properties
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kokkinos wrote:
Hi not easy to find best bank rates in cyprus ,any one recommend some please


For what purpose, to borrow, to save??

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Rates 
Post: #3   PostPosted: Fri Jul 12, 2019 4:06 pm Reply with quote
kokkinos
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To save . As expats from UK are excluded from opening new bank accounts in u,k.
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Post: #4   PostPosted: Fri Jul 12, 2019 6:11 pm Reply with quote
lindask
Joined: 31 Aug 2005
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Have you tried Cynergy bank uk -used to be Bank of Cyprus UK ?
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Re: Rates 
Post: #5   PostPosted: Fri Jul 12, 2019 7:05 pm Reply with quote
FSB Properties
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kokkinos wrote:
To save . As expats from UK are excluded from opening new bank accounts in u,k.


If it is just to park some money the rates are very low at the moment since the base rate is around 0.5%. The banks pays between 1-1.5% depending how much you set aside and for how long.

To get more you have to invest in some other scheme, but be very careful where you do.

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Post: #6   PostPosted: Sat Jul 13, 2019 9:05 am Reply with quote
kokkinos
Joined: 14 Oct 2005
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Thanks for reply s might as well invest in premium bonds in u,k, can we do that .
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Post: #7   PostPosted: Sat Jul 13, 2019 12:09 pm Reply with quote
sheeb
Joined: 04 Nov 2009
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Location: Ayia Thekla

 
You have to be UK resident for premium bonds.
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Re: Rates 
Post: #8   PostPosted: Sat Jul 13, 2019 6:24 pm Reply with quote
FSB Properties
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kokkinos wrote:
Thanks for reply s might as well invest in premium bonds in u,k, can we do that .


There is a member here called 'Gazza' or something like that. He works at wealth management company 3D Global. He is a sponsor here. You may get some sound advice from him.

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Post: #9   PostPosted: Sat Jul 13, 2019 6:46 pm Reply with quote
Lindy
Joined: 30 Oct 2007
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sheeb wrote:
You have to be UK resident for premium bonds.


Not quite true. Some countries eg the USA don't allow expats to own Premium Bonds. However, I'm sure that Cyprus does.

This link should help.

https://www.nsandi.com/i-live-outside-uk-can-i-invest-with-nsi?WT.z_search=can%20i%20buy%20bonds%20if%20i%20live%20abroad
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premiums bonds 
Post: #10   PostPosted: Sun Jul 14, 2019 7:51 am Reply with quote
tiny
Joined: 22 Feb 2017
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Location: portsmouth/paralimni

 
sheeb wrote:
You have to be UK resident for premium bonds.


Hiya

you dont have to be resident in UK to buy premium bonds, unless you are buying for the first time, then not sure what the rules are,

i moved out fulltime in February and have brought some since, on their site it has a page for expats and explains things ie tax rules and so on,
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Post: #11   PostPosted: Sun Jul 14, 2019 7:58 am Reply with quote
bromerzz
Joined: 30 Aug 2005
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Likewise I also maintain a Premium Bonds account running with a Cyprus address.
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Post: #12   PostPosted: Sun Jul 14, 2019 8:39 am Reply with quote
kokkinos
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Bonds is the way to go then thanks
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Post: #13   PostPosted: Mon Jul 15, 2019 12:33 pm Reply with quote
sheeb
Joined: 04 Nov 2009
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Location: Ayia Thekla

 
My mother had premium bonds in the UK but when she died, NS&I said that, as I was a resident outside of the UK, I could keep the bonds for a year & then they would be cashed in & the proceeds sent to my UK bank account. Perhaps I was given the wrong information at the time or perhaps the rules have changed but that is exactly what happened. Twelve months on, I got notification that the money had been transferred to my UK account
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Interest rates 
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