Bank interest

[rhodie]

Hi guys. can you tell me if the interest rate say 6.8% is an anual rate but paid every 30 days or 6.8% paid every 30 days example
50,000 TL on 30 day acccount what interest would you get in your pocket after tax every 30 days
I just cant get any straight info on the net.
Would be so greatfull for any information on how it all works.
Thanks all
Rhodie

[usedbustickets]

My very rough calculation is 279.45TL gross and net (after 15% tax) 237.53TL.  But don't qoute me on that to the bank manager  

[rhodie]

Thanks for the guide info.  anouther question is it better to have a sterling 30 day savings account there or TL savings account
next question?
so is the interest say" 6.9% anually devided by the number of 30 day periods and therefor each 30 day period will pay out
6.9% / 12 =0.575% after each 30 days
thanx again
We have bought a property in Fethiye and will be retiring next year so will live in Fethiye for 8 months of the year so trying to get a general idea of how it all works

Thanx
Rhodie

[jackstee]

Rhodie
Nce try but these accounts are only in TL and not in Sterling.

[Sleuth]

A friend of ours said a couple of days ago that their bank ( didnt mention which bank ) had upped their interest rate to 9.5%  .. is this general out there at the moment ?  and is it about to hit double figures again  I  wonder     

[usedbustickets]

Worth looking at the related thread http://www.calis-beach.co.uk/forum/turkey_discussion_forum_not_calis_specifically/turkish_lira_continues_slide_52445.msg332351.html#msg332351 which highlights the impact the falling TL rate is having on current interest rates, and over the next few months.

[Karennina]

There has been something posted on fb today about a possible financial crash in Turkey, I am afraid I do not understand a word of it  but if anyone else can decipher it I will copy and paste the link for others to read...

[Karennina]

http://www.nytimes.com/2013/08/21/business/global/turkish-skyline-foreshadows-emerging-market-slowdown.html?pagewanted=all&_r=1&

[snowtop]

used bustickets, I got exactly the same as you from my spreadsheat and if we are out, it will only be a  couple Kuruş

[usedbustickets]

Karennina thanks for the NY Times article, excellent piece pulling together all the issues.