Depositors lose, not win from interest rates

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Depositors lose, not win from interest rates
 © In-Cyprus 2019
Depositors are not winning but actually losing from interest rate returns that are close to zero in warning statements. In bonds – and according to their amount – the interest rate does not exceed 1%. But while deposit rates have fallen below 1%, the defense tax on interest on deposits is further burdening depositors.

With 30% tax on deposits’ interest from the very first euro, the net interest rate in Cyprus is further declining. At a time when the levy on the island’s fledgling National Health Scheme has also been introduced.

In this new banking era for Cyprus...


This article was automatically added to our system 21-6-2019

Depositors lose, not win from interest rates


The contents of this article including any associated images are © In-Cyprus 2019
Views & opinions expressed in this article are those of the author and/or In-Cyprus .

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Article Tags: depositors, interest, rates,