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Kalkan Discussion => Money & Finance => Topic started by: pattaya on January 28, 2013, 05:27:45 PM

Title: Interest rate on savings..
Post by: pattaya on January 28, 2013, 05:27:45 PM

Hi can anyone help with the above ? do you know which banks are giving the best rates at the moment ? Was thinking about transfering some uk savings ..
Kind regards

Title: Re: Interest rate on savings..
Post by: kevincat99 on January 28, 2013, 08:52:22 PM

Sadly the rate is dropping again for short term savings - last week it was 6.70% at Yapi Kredi for 34 days for 100K + Lira

It has been dropping every month for the last few  :(

And don't forget there is 15% tax to come off that as well  >:(

Title: Re: Interest rate on savings..
Post by: Bob & Jayne on January 28, 2013, 09:23:57 PM

The KTLN home page has a heading of 'Turkish Bank Savings Rates' towards the bottom on the left, with links to several banks.
Not sure how up to date they are though.

Title: Re: Interest rate on savings..
Post by: kalkanfan on January 29, 2013, 01:36:14 PM

...and don't overlook potential currency fluctuations should you want to exchange back into sterling in the future.

Title: Re: Interest rate on savings..
Post by: pattaya on January 29, 2013, 02:14:26 PM

Thanks ... all seems a bit confusing !! did manage to find a rate of 8.40% which is still better than uk.
Will chew it over..
Thanks for info :laugh:

Title: Re: Interest rate on savings..
Post by: kevincat99 on January 29, 2013, 03:06:08 PM

Papatya thats a very good rate

Where did you find it - how much is invested and for how long [ or if that is secret ] just which bank will suffice  ;)

Title: Re: Interest rate on savings..
Post by: samson on January 29, 2013, 03:11:05 PM

we tied up some money in deniz bank for 100 days at the end of last year. to get the best rate we had to change it from sterling to lira. as we were leaving it in lira to pay for some things on the apartment then that was not a problem. 10k made £490 in interest over the 100 days!  :)

Title: Re: Interest rate on savings..
Post by: pattaya on January 29, 2013, 05:24:49 PM

Hi It was deniz bank... on 10k ... new account
Perhaps I will do it then ... I was havin second thoughts. :laugh:

Title: Re: Interest rate on savings..
Post by: pattaya on January 29, 2013, 05:53:58 PM

Now do I wait for the rate to increase a little 2.78 today ?? decisions decisions...

Title: Re: Interest rate on savings..
Post by: Korderekid on January 29, 2013, 07:38:35 PM

If you can tie up your money for 6 months, bank bonds are a very good bet. These have two advantages, they offer a higher rate of interest than any savings account and the tax paid on interest earned on a bond is only 10%.

We have had three consecutive 6 month bonds with Deniz Bank and have been very pleased with the performance.

Bond issues are twice yearly, I believe the next issue will be in March.

KK

Title: Re: Interest rate on savings..
Post by: kevincat99 on January 29, 2013, 07:40:40 PM

Pattaya - Deniz Bank usually offer an extra 1% interest [ as a bonus ] on new accounts but after the first period it drops back to the usual rates

Check with them first

Title: Re: Interest rate on savings..
Post by: pattaya on January 29, 2013, 08:53:01 PM

Thank you will do ... Im going back end of April so I might wait untill then.  :laugh: