Private Banking

Private Banking With Near East Bank.

Near East Private Bank enables you to organise your financial affairs in the most efficient way possible making your life easier by providing you with a unique and unrivalled banking service.

The Near East Bank Private Banking Team, are here to help you manage your savings, investment and banking needs in a highly professional manner Our aim is to protect your interests at all times whilst forging a close working partnership with you.

As with all our clients you are unique and we want to understand your financial needs and investment objectives by talking and most importantly listening to you. We have several tools to assist us including our Risk Profile Analysing Service. Once we have gained a clear understanding of your objectives we are then in a position to to make a plan best suited to your needs and aims. We will continue to work with you, regularly reviewing you portfolio to ensure our services are achieving your objectives whilst considering any changes to your circumstances.

At Near East Private Bank we analyse the local and international markets, providing you with insight and analysis via your own Private Bank Client Representatives, who are highly trained experts, they are your first point of contact and are there to facilitate all your banking needs either in person or by providing you with the relevant expertise to suit your own situation.

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Near East Bank Private Banking Advertisement Video.

Banking Services

We are committed to providing banking solutions for the whole community, we understand that people are different and circumstances change so we offer a flexible range of accounts to all your needs and objectives. You will not only enjoy the highest level of banking services possible but also some of the most competitive interest rates in the TRNC. Your Private Bank Client Service Representatives has been trained to ensure that they make the most of your money whilst it is entrusted into our care.

What follows is some or our core banking services.

Current Account

For your day to day convenience. You can access your Turkish Lira or foreign currency instantly through your current deposit account, make automatic payments and transfer funds through this account.

Overnight Account

It may not be appropriate for you to commit your funds for over a month so for deposits in excess of 100,000 TL in the near future we can offer you an overnight account. This means that you will maintain flexibility but also gain interest on your funds.

Term Deposit Account

To ensure the best possible interest rates we have on offer you will need to open a term deposit account. The amount of interest will depend on the amount invested and for how long you are willing to commit the funds. We offer one, three, six and twelve month accounts. These accounts can be in all the major currencies (TL, GBP, EURO, USD)

Prestige Account

The security of a TL savings account BUT with much better returns.

This account has been specially designed for clients that want to get a bit more performance from their investment without taking any more investment risk than a traditional term deposit. The structure of the account uses a forward contract (a treasury product) and foreign exchange which allows us to give the investor a greater return on their deposit. To make the product efficient it needs to an investment amount worth more than $100,000 in TL terms. The other fact is that for the investment to be risk free it has to be held to maturity.

Tracker Account

Why keep switching and checking your accounts to get the interest rate you want? With the Tracker Account you will always have a great rate of interest and option of regular income. The interest rate will track the Central Banks Base rate at a pre agreed set amount over giving you peace of mind.

Switching Account

Now you don’t have to choose between FX flexibility and high interest with the 1st Switching Account you can have both.

The aim of this account is to allow the you the ability to earn interest at a fixed rate and term whilst giving the client the flexibility to change the currency that they are holding in the account.

Personal Loans

For foreign nationals living in the TRNC it can be hard to raise credit but Near East Bank has come up with an innovative solution that can provide customers with credit, (for amounts up to £30,000) without needing guarantors or blocking funds. This solution is particularly designed to fund the purchasing of cars but our pragmatic and logical approach can extend this facility to other financial needs. If you need to generate some funds we would welcome the opportunity to talk through the issues and explore the opportunities we may be able to offer you.

Added to this you will also benefit from the special rates, terms and conditions that the Private Bank has to offer its clients.

Automatic Payments

We know that no one likes to lose time in a queue and whilst we love to see our clients we do all that we can to make your life easier. Our Private Bank Client Service Representatives can make sure your bills are paid directly from your account and on time, regardless of where you are in the world.

Transfer Transactions

You can make all internal and foreign transfers from our branches or online and with a significant discount.

International Transfer

This can be a difficult, expensive and time consuming activity but NOT at Near East Bank. We can offer all our clients needing to transfer funds from the UK a fast (one working day), efficient (can be done via internet banking) and inexpensive way of transferring funds. For our Private Bank clients we can even waive the modest fee in most circumstances and in special situations we can get the funds transferred quicker!

We also offer a comprehensive service to and from the rest of the world.

Insurance

Currently Near East Bank is working with four different Insurance companies (Commercial Insurance, Euro City Insurance, Zirve Insurance, Tower Insurance) so that we can get the right insurance cover at the best price for you. We are here to help you secure all the things that you care for and our Private Bank Client Service Representatives will work with our insurance specialists to aid you with all your questions and requests.

Investment Products

Your Private Bank Client Service Representative will either be able to guide you themselves or involve our Private Bank Investment Specialists who will advise you how to best use the investment products that we have especially designed for our Private Banking clients.

At Near East Bank we are proud of our in house treasury which allows us to provide our clients with cost effective investment products.

Any advice given will be in keeping with your attitude to investment risk and personal financial objectives.

Foreign Currency Buying And Selling Transactions

You can buy and sell foreign currency in U.S. Dollars, Sterling and Euros with the special competitive exchange rates negotiated by the treasury of Near East Bank.

Forward Transactions

You can determine an exchange rate for a future date and carry out buying and selling transactions. For this product, it would be sufficient to deposit 20% of the transaction you will make in our Bank as an earmarked deposit. Foreign currency buying and selling will take place on the maturity date at the exchange rate agreed in advance, and thus you will have the opportunity to protect yourself against exchange rate fluctuations.

Option Transactions

You can purchase the right to buy or sell a foreign currency in set parameters on a future date against a commission. In case the exchange rate on the maturity date is favourable, you will be able to buy or sell foreign currency on the previously agreed exchange rate, otherwise you will have the right not to carry out the transaction. For this product, it would be enough to deposit 20% of the transaction you will make in our Bank as an earmarked deposit.

DCD Transactions

Thanks to DCD transactions you can have the chance of making a higher return than term deposits. In DCD transactions you can determine the exchange rate and maturity, and determine an exchange rate according to your projection. If the exchange rate in the market on the stated date is below the exchange rate you have determined, for instance you will earn 3% more interest in addition to the deposit interest. If the exchange rate is above the rate you have determined on the stated date, we give you the DCD interest and convert your foreign currency to TL over the exchange rate you previously determined and give you the principal amount in TL. This product is not without some investment risk which will be fully explained to you by our Private Bank Investment Specialists.

Gold Account

With our Gold Account, you will be able to buy and sell gold safely, and keep gold in your current or term deposit accounts without having the responsibility of physically possessing gold. The gold account will enable you to invest in gold without the risk of theft and without paying workmanship costs. Current Gold Deposit accounts can be opened with minimum 5 grams and Term Gold Deposit accounts have a minimum of 100 grams.

Treasury Bills, Government Bonds, Eurobond Buying And Selling Transactions

We can facilitate the buying and selling transactions of Treasury Bills, Government Bonds and Eurobond which go can hold to maturity or trade before.

Privileges & Rewards

Exclusive Services For Private Banking Customers.

  • We are delighted that we are able to give our Private Banking clients membership to the exclusive Priority Pass club. Priority Pass is the leading providers of premium airport lounge services. The Priority Pass card that you will receive as a Private Banking client of Near East will give you access to over 650 first class airport lounges around the world. For more information about Priority Pass and the services they offer please visit their websit e www.prioritypass.com
  • Designated Private Banking Client Representative.
  • Priority services at selected Near East Bank Branches.
  • Discounts on banking fees and commissions.
  • Special terms on products and services.
  • Tailor made investment and savings.
  • Regular updates economic developments through the market bulletins we specially prepare for you.
  • Financial planning consultancy.
  • Discounts on services from the Near East Group including the Hospital and Travel Agency.
  • Exclusive travel pack including airport lounge access, travel and personal accident insurance.

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