Best bank interest rates monthly TL deposit

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bluenose
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Best bank interest rates monthly TL deposit

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Post by bluenose »

Anyone know which banks are giving the best interest rates on a TL monthly savings account over a six month period?

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Re: Best bank interest rates monthly TL deposit

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Post by rdcjacko »

Capital Bank

David
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Re: Best bank interest rates monthly TL deposit

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Post by David »

Best to ask them, the more you have got the more you get up to a point

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Re: Best bank interest rates monthly TL deposit

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Post by Keithcaley »

...and remember the old maxim - the higher the interest rate, the higher the risk!

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Re: Best bank interest rates monthly TL deposit

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Post by properperson »

Can people post actual examples of interest rates they are currently getting with an approx amount of money deposited.

Thank you.

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Re: Best bank interest rates monthly TL deposit

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Post by Deniz1 »

Most people would not want to give you their personal info go and find out for yourself!

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Re: Best bank interest rates monthly TL deposit

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Post by tomsteel »

Deniz1 - spot on advice. Posters should at least do some personal research before seeking help on the forum.

properperson
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Re: Best bank interest rates monthly TL deposit

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Post by properperson »

i wasn't seeking personal info...

i'm in the uk and looking to move over to the TRNC in a couple of months, so would like to know what rates i could expect...

can i turn it around then,...

I have 100,000 GBP which i would like to convert to TL....with say a 1 year fixed rate and getting monthly interest, any idea which banks are offering the best deals and what rate should i expect.....

Thank you.

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Re: Best bank interest rates monthly TL deposit

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Post by Keithcaley »

If you have a look at each Bank's website, you may be able to see what they are offering as a base rate, for instance, the Interest rate page on Creditwest's website states 7.5% p.a. on a 6 monthly deposit account or 9.4% p.a. at 6 monthly 'E-Deposit' rates - whatever they are - I think that you'd have to go in, and ask!

Feel free to tell us if you find out...

They would most likely pay a percent or so more on deposits of 100,000 TL or more, but these things always depend on how good you are at haggling!

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Re: Best bank interest rates monthly TL deposit

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Post by tomsteel »

Be aware the maximum government bank recompense for accounts is 10,000 € if the bank fails. That said, our experience is Capitol Bank offered 13% on a TL deposit over a 12 month term. You also have to consider the £ - TL exchange rate now and where it may go when you cash in, offshore, etc. Really do suggest you research prior to any decision.

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Re: Best bank interest rates monthly TL deposit

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Post by Keithcaley »

I understand that the Banks are open to negotiating a higher interest rate, even if your deposits are spread over several accounts which individually fall below the 'guaranteed' level.

The warning about Exchange rate variation is very real, as I can attest - some years ago, I converted a sizeable (to me ) chunk of Sterling to Lira at a rate of around 2.5 TL to the Pound, and stuck it in a deposit account paying 7% or 8% per annum, and was gratified to see the capital accruing by some hundreds of Lira each month.

Today, with the Exchange rate at something over 4TL to the Pound, the deal doesn't look quite as good, if I want to convert my TL back into GBP - but hey-ho! - I've still got the Lira, plus interest earned, and I do spend Lira day-to-day, although I spend somewhat more, because of the fluctuating cost of imports...

Just be aware that it's not as straightforward as it appears!

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Re: Best bank interest rates monthly TL deposit

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Post by Narcin »

[quote="properperson"]i wasn't seeking personal info...

i'm in the uk and looking to move over to the TRNC in a couple of months, so would like to know what rates i could expect...

can i turn it around then,...

I have 100,000 GBP which i would like to convert to TL....with say a 1 year fixed rate and getting monthly interest, any idea which banks are offering the best deals and what rate should i expect.....

Thank you.[/quote

CapitalBank interest rates on deposit accounts are very competitive, if you are still looking to invest and would like specific rates (with interest return calculated) on TL deposit accounts you can send an e-mail to me on [email protected]

Kind Regards,
Narcin

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