Author Topic: Which banks have the best interest rates!  (Read 3925 times)

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Offline nichola

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Which banks have the best interest rates!
« on: December 17, 2015, 11:55:21 AM »
Has anyone got any current information on what banks are offering in way of interest rates and what if any terms, like for example 46 days, 93 or 120 days.

Did anything happen with the Fed decision yesterday which might have a bearing on future rates?



Offline yabanci

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Re: Which banks have the best interest rates!
« Reply #1 on: December 18, 2015, 07:36:13 AM »
No movement on Interest Rates yet Nichola but the Central Bank doesn't met until December 22nd.

Offline karaokemark

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Re: Which banks have the best interest rates!
« Reply #2 on: December 18, 2015, 09:25:02 AM »
We just got 11% for 46 days Garanti and 10% on our daily interest account at TEB ( this was 11% last month)
Interest rates should rise next week, but will they be allowed to?

Offline Colwyn

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Re: Which banks have the best interest rates!
« Reply #3 on: December 18, 2015, 10:46:38 AM »
At the moment there is no pressure on Basci to raise interest rates since the lira is steady against the dollar. Indeed it is now stronger than it was last Friday with the dollar's buying power down from 2.98 to under 2.93.

Offline wickwilly

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Re: Which banks have the best interest rates!
« Reply #4 on: December 18, 2015, 12:51:06 PM »
Seker is currently giving 11 % on 35 day account. Deniz Bank is 10% on 35 day account with an 11.5% introductory offer for first 35 days. Central Bank is meeting on 22nd December so we will see what happens after that.
WW.

Offline nichola

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Re: Which banks have the best interest rates!
« Reply #5 on: December 18, 2015, 13:59:40 PM »
Thanks very much guys... we spent the morning at several of the banks. I am used to it but Dogan was getting very restless and irritable after several hours.

There do appear to be slightly better rates for longer time periods, 90 odd days will get you about 12.5% for new money (TEB/Seker/Vakif/Finansbank) if anyone is looking to move bank or if you are setting up a new account. Of course it drops off a little after the initial period so then you have to decide whether to move or stay.

I have always been a bit confused by the longer days accounts and whether it is worth it so Ozge at TEB (ex Seker) did kindly work out the compound interest for us of three months of 32 days (less interest) vs a 94 days account (higher interest) and the longer period with higher interest does make a difference. Not worth losing sleep over but a few hundred lira...

Anyway, really appreciate your input. Thanks again   :)


Offline yabanci

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Re: Which banks have the best interest rates!
« Reply #6 on: December 22, 2015, 08:22:29 AM »
14 of 16 analysists polled by Reuters are predicting a 0.5% rise in Interest Rates today after the Central Bank meeting.

Offline nichola

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Re: Which banks have the best interest rates!
« Reply #7 on: December 22, 2015, 09:33:30 AM »
We were at the bank this morning and they seemed to think definitely a rise next month...

Will be interesting to see if it does rise today as this is the first meeting since the Fed increased rates I think and at one bank last week we were told this was more likely to affect the lending between banks rather than the potential for an increase in rates. I'm just reporting what we were told! Not if I believe it or not  ;)

Offline Colwyn

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Re: Which banks have the best interest rates!
« Reply #8 on: December 22, 2015, 12:21:41 PM »
So 14 of 16 were wrong then!
14 of 16 analysists polled by Reuters are predicting a 0.5% rise in Interest Rates today after the Central Bank meeting.
So 14 of 16 were wrong then! Bank rate unchanged.




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