Author Topic: Daily and monthly interest rates  (Read 2429 times)

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Offline x~Becky~x

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Daily and monthly interest rates
« on: November 12, 2006, 13:00:38 PM »
were wanting to find information on the banks in turkey, i know the interest rate is a lot higher than in england, does the interest rates get paid monthly or yearly or what? is there any daily rates available? any information anybody has we would be grateful,
thank you x
« Last Edit: November 12, 2006, 13:01:07 PM by x~Becky~x »



Offline tribalelder

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Daily and monthly interest rates
« Reply #1 on: November 12, 2006, 13:51:21 PM »
Basically you can choose the way the want your interest.  In practice the normal way is to have three accounts.  A sterling account which is useful to transfer your money from the UK. You can leave it there where it earns about 4.5%. You can also transfer it to another Turkish Lira Account  Such as A Daily account which as implied has interest added daily and from which you can draw cash and at the end of a month you can arrange for any surplus to be transferred automatically to a monthly high interest account which at present is earning about 18.5% gross ( about 14% net after the bank have deducted tax at source.) You can add to the monthly account directly if you so wish. :)
« Last Edit: November 12, 2006, 13:52:34 PM by tribalelder »

Offline Twin Bee

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Daily and monthly interest rates
« Reply #2 on: November 12, 2006, 14:10:42 PM »
I am interested in knowing more about sterling accounts attracting interest. Are these special accounts as I don't think our sterling account has paid any interest?

Offline KKOB

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Daily and monthly interest rates
« Reply #3 on: November 12, 2006, 14:13:03 PM »
The article on Turkish interest rates posted in the Fethiye Times is well worth reading before you consider moving your money.

http://www.fethiyetimes.org.uk/cms/index.php?option=com_content&task=view&id=667&Itemid=58

Offline lindacarl

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Daily and monthly interest rates
« Reply #4 on: November 12, 2006, 15:37:16 PM »
Stuart
I think when we asked Aysa why ours wasn't attracting interest she told us you have to keep at least £3,000 in the sterling account to have interest added.
Linda




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