Advice needed re Bank Interest,

[Ovacikpeedoff]

Rimms, I would spread it around rather than one bank. If that bank was to go under you would at least have the comfort of the Turkish bank guarantee scheme. If you have sterling I would also take into account the exchange rate. If you converted today and the TL was to continue to rise against sterling you could have a capital loss.You could gain on the swings and lose on the roundabout.

[tel]

Rimms,as mentioned tax is deducted at 15% On 100k (Turkish Lira) you would (at a static 9.5%) get 792TL gross approx.per month and after tax..673TL per month. Based on a 30 day OH account or Ing Bank(no tie up number of days).
Don't forget guarantees are only 50K Turkish Lira for each person,so you would need a joint account(2-persons)to guarantee safety on 100k TL,or once again spread to more than one bank, the choice is yours.
As you mention 100K Sterling to invest you will have to spread that amount wisely in more than one bank. At todays rate of 2.81TL to the pound, you are looking at 280,521TL,  nice one.

[Rimms]

Thanks all for the really interesting replies. I used the £100k example as I thought it was the sort of money people could raise by selling up in the UK. Unfortunately we don't have £100k sitting in the bank and have decided that we would want to keep our place in the UK as well as the house in Calis. However, I thought the example was interesting after reading how difficult it had become for those living in Turkey and depending on bank interest as an important factor, or even the only factor towards monthly income. At today's rate the above investment would bring you around TL 1,900 per month. I must admit that we spend more than that when there on holiday, but if living there, I bet you could have a fairly comfortable lifestyle on that sort of amount? I must admit, it's got me thinking, especially on a day like today where it's cold, grey and miserable outside when this is supposed to be the height of summer !