Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: kayakebab on January 08, 2011, 09:33:25 AM

Title: 30, 32 45 day notice accounts
Post by: kayakebab on January 08, 2011, 09:33:25 AM
Could someone help to explain to me how these notice accounts work,unfortunately as its Saturday I cant ask anyone at the bank and its bugging me!
Assuming I put money in a 45 day account, and don't touch it so I don't lose any interest, after 45 days where does any interest go?
Does it stay in the account and you agree another however many days to invest or does it go into a current account for spends or can you choose where it goes?

Also, most banks pay a higher rate if you have 75000 tl, but the guaranteed limit in a crisis is 50000tl - just how risky do people feel it is to have over the 50000?

will be grateful for any advice!
Title: 30, 32 45 day notice accounts
Post by: apollo on January 08, 2011, 10:40:33 AM
The interest earned will be added to your capital and another 45 day period will start automatically.

You can choose what you want to do with the interest. For example, you can instruct the bank to transfer the interest to your current account.
Title: 30, 32 45 day notice accounts
Post by: Anne on January 08, 2011, 10:43:24 AM
You can choose where the interest goes Linda.  
Either have it paid into your current account at the end of the chosen period or leave it in to boost your savings and gain more interest the following period.
Title: 30, 32 45 day notice accounts
Post by: kenkay on January 08, 2011, 13:46:23 PM
Ours is paid into our current account. I was under the impression that leaving it to compound in the timed account IS NOT allowed [?]
Title: 30, 32 45 day notice accounts
Post by: Liz 101 on January 08, 2011, 15:30:32 PM
quote:
Originally posted by kenkay

Ours is paid into our current account. I was under the impression that leaving it to compound in the timed account IS NOT allowed [?]


No problem leaving it to compound at either ING or Fortis. Maybe different at other banks
Title: 30, 32 45 day notice accounts
Post by: tel on January 08, 2011, 18:06:18 PM
Don't put all your money in one bank to be safe. You will secure 50k Lira per person safely,but if a bank went bust how long would it be before you get any money. To be fair most of the wobbly banks went ages ago, but recent worldwide crisis made people think of spreading their money around more than one bank. There are various high interest accounts that vary in length of days,30 and 35 being most popular. All the banks I use or know of ALL add the interest on each month after tax is taken.As mentioned before you can set up an account with High Interest and have the interest gained at the end of each term (30 or 35 Days maybe) paid into a current account and perhaps take out a ATM card to access your money.
Title: 30, 32 45 day notice accounts
Post by: OvacikOldBoy on February 27, 2011, 10:17:27 AM
Hi,

Does anyone know what the approx interest would be on a Turkish Lira monthly deposit account with an amount of 50,000 pounds, approx 125,000 TL and which bank offers the best rates?

thank you

Allen
Title: 30, 32 45 day notice accounts
Post by: karaokemark on February 27, 2011, 10:24:07 AM
quote:
Originally posted by OvacikOldBoy

Hi,

Does anyone know what the approx interest would be on a Turkish Lira monthly deposit account with an amount of 50,000 pounds, approx 125,000 TL and which bank offers the best rates?

thank you

Allen

The Orange account at ING is a good option, at the moment you get 9.5% guaranteed for 3 months, the beauty of this account is interest is paid daily so you can draw your interst everyday if you wish, there is a thread on this account.  {A Link to an old CBF topic was here - no longer available}39355
Mark
Title: 30, 32 45 day notice accounts
Post by: tinkerman on February 27, 2011, 10:26:05 AM
The bank rates are pretty much the same over a year, you should be getting between 7 and 8% for that amount
Title: 30, 32 45 day notice accounts
Post by: lance on February 28, 2011, 08:35:34 AM
ING is the best bet at the moment 9.5% daily like andy said plus they have quite a few ATM machines so no charge for drawing cash out .:D