Further drop in Interest rate

[mercury]

7.75% at Teb yesterday...

[Sleuth]

Is that figure of 7.75%  dependant on how much you have in there Mercury ?  ie   the more you invest the higher the %  ?

[usedbustickets]

Mercury that is a step up by TEB, the last couple of months our monthly TEB accounts have been paying a point over the 7%.  So this is good news.

[Hellzbellz]

Just checked savings account at HSBC premier account, interest dropped again this month to 6%. Seems to be dropping every other month now, oh well, was good while it lasted  

[Jacqui Harvey]

Still much better than the U.K......for now anyway.

[Jim Fraser]

Ours has actually increased for next month, only by 0.2% but better than expected.

[retiredandlovingit]

Which bank is that Jim?

[GordonA]

Jim is keeping it a secret !!   

[GordonA]

It would be interesting to know what the TRUE rate of tax applied to the interest is. Many probably do not think of this, just saying, innit ?? 

[Colwyn]

Turkey Tweaks Interest Tax Rates

by Lorys Charalambous, Tax-News.com, Cyprus
10 January 2013
 
Turkey has introduced tax changes affecting bank interest income and foreign loans for Turkish residents.

The changes involve amendments to the standard 15% withholding tax on bank deposit interest. In the case of local currency bank deposits, interest on money deposited for less than six months will still be taxed at 15%. However, interest from deposits held for between six months and one year will be taxed at a reduced rate of 12%, while money held for more than a year will be taxed at 10%.