Quote:
Originally Posted by sbrazzer
Here in Cyprus, some local banks offer up to 12.5% yearly interest on bank deposits. Out of your 500K you can get monthly $5200. You can rent a crazy villa with a pool for 2K per month and live like a king with the rest. No need to buy a house and get tied to a place. Check it out, it is an EU country, very popular tourist destination. Life is peaceful, very low crime rate. The island has nice resorts and sandy beaches, lots of sunshine. A lot of people from UK immigrate here.
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If they have their funding cot at 12,5% something is very wrong, can't they get money anywhere else (like european central bank?)? even when interest for countries like greece, ireland, etc. went trough the roof you never saw banks offering anythign close.
Any idea on what rate they charge for mortgages and other loans?