Current Bank Interest Rates

[kizkucuk]

I always find out what ING are offering on my orange account and then when I go to the other bank I can show them and they always match it.

[corbindallas]

Apparently Finans are giving 10.5% on their normal 32 day account (non introductory offer) can anyone else confirm this. Garanti rate is not very competative Mark.

[goatman]

I ahve been in Yapi Credi today and the best they could offer on an ongoing account was 10.3% Yapi has always offered slightly less than some of the other banks as they are financially alot stronger.

[lance]

ING do 9.50% on a daily account before tax .

[Sleuth]

Hold on to your hats folks... because the Banking interest rates are going to drop like a stone again very soon... this information was told to a friend of ours yesterday from a high ranking Bank official from one of the major banks in Fethiye

[mercury]

Well thats cheered us all up !!

[corbindallas]

Dave (Sleuth) are you sure they meant the interest rate as I have heard it is the exchange rate that is dropping, not the interest rate? Turkey's current account figures are still way under reserve levels required so they need to grow this sector of their deposit accounts, dropping interest will be negative to achieve this so it has been talked by Central Bank to up the interest rate not drop it,to many loans taken out at cheap interest rates have caused this deficit, but hey this is Turkey they do go against the grain sometimes!

Also defeats why I posted this topic in the first place as I had heard there were increases to interest and wanted to find out what banks are offering, towards this, above sounds like a ploy from a bank not offering competative rates compared to others, time will tell, any source for above available??

[DANKY]

I will probably sound stupid asking this but, hay ho
When I opened my Turkish bank account to pay my bill's, I was advised to open two accounts a Sterling and a T-Lira, not really understanding why  I just went along with it, I have  never put anything in the Sterling account and always used the Turkish Lira account as I believed that was where the best interest rate is, so my question is why did I need to open both am I missing a trick  ....


   Danky

[karaokemark]

quote:Originally posted by DANKY

I will probably sound stupid asking this but, hay ho
When I opened my Turkish bank account to pay my bill's, I was advised to open two accounts a Sterling and a T-Lira, not really understanding why  I just went along with it, I have  never put anything in the Sterling account and always used the Turkish Lira account as I believed that was where the best interest rate is, so my question is why did I need to open both am I missing a trick  ....


   Danky

You need both because you can send money from the UK to the sterling account and keep it there till the rate is good and you want to change to TL, the interest rate is only about 1% on sterling accounts.
Mark

[Sleuth]

Hi Corbindallas  
                    In answer to your question, I am aware of the current exchange rate  :)as we have been back here in Hisaronu now a month. When we arrived January the 8th the bank exchange rate here was 2.92, so within 4 weeks it has dropped considerably and still dropping. My previous above post about a drop forthcoming with the bank `interest` rate was information told to me from a friend out here, told to him on thursday from someone who works in one of the major banks in Fethiye