Kalkan Turkey Forum - EnjoyKalkan.com
Kalkan Discussion => Money & Finance => Topic started by: paul.harrison on October 25, 2016, 10:07:37 AM
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Hi all, I am new to the site and am considering my retirement options in terms of living in Kalkan. One thing I cannot see much about on the Forum (that is recent) is the topic of Time Deposit % rates, can someone let me know of a good website that tells me this info, especially in relation to 'Deniz Bank' who I bank with in Turkey.
many thanks :)
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Paul you can get all that info on their own deniz bank website just google time deposit interest rates deniz bank.hope this helps.
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Hi Paul - make sure you have online banking with Deniz bank - makes it SOOO easy to open and close savings accounts...a little tip...the more you invest - the lower the interest rate...yes - barking mad and opposite to UK banks...so if you have lots of money to invest each month - open multiple deposit accounts 0-24,999 lira in eachand you will get more than if you deposit larger amounts...it is all very easy and straightforward - there is also not much point in investing for more than 1 month unless you have huge amounts to invest as the rate doesnt seem to improve!
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You get a much better rate on-line than you do at the Branch, but note you have to specify and select this when carrying out the transaction on-line!
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Thanks everyone, I can't see the on-line rates, are they around 10%?
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They are around that with Yapikredi so would imagine they'll be the same there Paul
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Thanks Chrissy... :D
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Paul - been getting 11.2% in Deniz.
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Wow, that is good, what is the precise name of the product, is it a Time Deposit, how many months do you lock for?
Thanks for your help. 8)
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Yes chickengeorge that is a lot you surely must have it locked in more than the minimum 32 days??
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Yes. It's time deposit and I set two up recently for the minimum term. They initially showed 11% but gave an offer at 11.2%.
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Some points to note for deniz:
1) If you opt to have your capital(or capital and interest) to recycle after the period specified always check soon after the time deposit restarts because mine once recycled with a 5% rate.
2) After the above I allowed one of the bank staff to recycle the account for me but the rate always varied and never matched the online rate.
3) If you pay the whole amount(capital and interest) into your TL account after each period and then open a new one each time then in theory you would have to get a new printed card from the bank as proof should anything go wrong( if you recycle the capital then the account number stays the same)
4) If you have a joint TL account the time deposit only opens in one name.
5) If you open an time deposit of 99000tl or less you can close it online. Anything higher than this you would have to visit or contact the branch to do it.
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Thanks Chickengeorge, incredibly useful.
;D