Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: epsomboy on July 06, 2008, 17:13:52 PM
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Hello
what are the best bank rates at the moment for a Time Lira account?
Ive been told up to £44,000 for a one month is 18%,more then that they will do a better rate, for a one year bond its 20%,i would like to know what other banks are doing please. Those rates are with Fortis bank
Thanks
Lee
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Sorry about the spelling,should say Bank not Ban :-)
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Government bonds are pretty good at the moment. Last week offering over 23% (less of course the 10% tax on your interest).
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Garanti are currently offering 19% on balances over 25,000ytl for a 29 day maturity.
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Hi Eric
thanks for that,the bond is that with Garanti Bank? and which Branch?
25,000 ytl what is that in Sterling? :-) £10,000?
I have been offered this by Fortis bank .A 1 year bond is 20%,but sure he can do better then that.
Savings accounts terms starts from 1 day till one year rates are changing with period;
1 day-26 day : % 17
27 day - 75 day : % 18
76-135 : % 18.5
77-136 : % 18.75
137- 225 : % 19
226 - 300 : % 19.25
301- 365 : % 19.75
If balance is more than 100.000(44.000 gbp) ytl i can offer you different rates. And if it is more than 400.000 ytl (175.000 gbp) i can have special offer for you from our central office. We dont take any fee we take just tax which is 15% for a year.
We dont charge any exit fee. When transfering money to sterling again we will serve you special exchange rate.
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The government bond of over 23% gross annually, is for a maturity in Jan 10(18 months), and yes, thats through Garanti (Fethiye). There are other bonds over a shorter period but for less interest.
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quote:
Originally posted by Stressed Eric
Garanti are currently offering 19% on balances over 25,000ytl for a 29 day maturity.
Hi eric,
We are with Garanti and have over that amount and only getting 16.25%
how have you managed that please let me know. :-\
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% 16,25 ???
Is that a daily interest account ?
Cenk
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You need to keep an eye on what interval gives the best rates.
A monthly account gives 16.75%
A 29 day account gives 19.50%
A 14 day account gives 18.75%
A 7 day account gives 18.25%
Why ? Who knows ? You can keep a check of this on your internet banking if you've got it.
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As far as I know it is monthly should I change it to 29 day 8)
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Hello me again I am on internet banking can you change it yourself 8)
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I think I'm correct in saying that with Garanti, you can close or withdraw from an exsisting time deposit account online, only if you opened it online. If you opened it in branch, you can only close or withdraw from it in branch.
You can then open a new time deposit account online for 29 days.
Remember, you must wait till your maturity date to change anything, otherwise you will loose your months interest.
I'm sure if you Email Garanti, they would be able to make the changes for you.
Also, these interest rates are for balances over 25,000ytl.
One other thing, although 29 days gives a good interest rate at the moment, that may not be the case next month..you need to review the rates every month on your maturity date and change the interval if necessary.
It realy does pay to keep an eye o these things.
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Cheers again Eric will get myself to the bank :D:D
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Hi Eric
thanks for your input,i got a e-mail from Granti bank last week,the web site rates are very different, 16.25 is the max for any of their Time accounts.
Sure its better if you go into a branch and chat with them + haggle a little too :-)
Im going to have a chat again with the guy at Fortis Bank and tell him i can get better rates with another bank and see what he says
Will get back to you
Lee
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I've just checked again...their internet site is definately showing 19.5% on a 29 day account.
Once you've logging in, click on investments, then time deposit accounts, then interest rates, then on the left where it says daily, scroll down a click on 29 days, then click view.
Hope that helps
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Eric
can you send me the link for it please,i seem to be looking in the wrong place :-)
Lee
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Eric
can you send me the link for it please,i seem to be looking in the wrong place :-)
Lee
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http://www.garantibank.com/banking/interest_rates.html
this is what i am looking at
Lee
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you will need to log on with your pass words/numbers first, as if you are accessing your accounts,
then follow my previous directions. I'm presuming you are registered for internet banking with garanti?
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It seems interest rates will be little higher ( % 0,5 - % 1) after this weekend .
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Hi Eric
no i do not have an account with them, maybe thats why i cant see what you are seeing?
Thanks for your help
Lee
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Citibank are doing 21% on TL accounts and 6% on euros and dollars.
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Are these inerest rates for over a certain amount of deposit?
WW
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just saw the ad for it in the bank window as I drove past. 6% is good on the euro though and may bung some in there.
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Just looking at the citibank rates,cant see 21%
this is whats showing
http://www.citibank.com.tr/consumer/deposit/eng/faizler.htm
Not bad though
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Citibank - when I last enquired you had to go in person to a branch in Turkey to open your account - nearest being Izmir - not terrible but not very convenient! :(
Ian
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Still not sure when to invest, i do know the risks,but the rates in the UK are really crap :-) but may wait till after the election,then see how things are
Any thoughts on that?
Thanks
Lee
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It was advertised on their window in one of the branches I go past. Site still says 20.25 if you have it in there for 12 months.
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on whose window i'm lost.
lance[^]
quote:
Originally posted by starman
It was advertised on their window in one of the branches I go past. Site still says 20.25 if you have it in there for 12 months.
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Erm
Citibank
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eric is right goverment bonds are still higher
garanti drop the rate for 29 day account
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Yes, rates have dropped, i think Garanti's current 29 day rate is 18.5%. Government bonds have also dropped.
These things change from day to day, and with Government bonds, from minute to minute sometimes. If you hold a garanti account and register for internet banking you can get upto date info every day.
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Just opened an account with TEB and have managed to get 19% on a monthly account.
WW