Bank Interest Rate Offer
Just a quickie. I am going to leave the HSBC and take my balance to another Turkish bank. They are simply not doing enough to keep their loyal customers in my opinion. The best I can get from them for 100000TL is 20% ( they are offering 27.5% for new customers). I am interested in hearing about other rates being obtained elsewhere?
 

Jaycey

African Refugee
Bank Interest Rate Offer
24% at Denizbank

With inflation at 24.52% you’d be breaking even.

https://tradingeconomics.com/turkey/inflation-cpi

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And with inflation likely heading towards 30% next year would it not be better for some to put cash into a US$ account at 2%? :noidea:
 

CJD

Member
Bank Interest Rate Offer
A friend of mine was offered 26percent by teb as a new customer
 

ted j

Member
Bank Interest Rate Offer
Normally, the new customer offers are only for the first month, after that, they go down
Got too much on at the mo to mess about for 1% for a month
 

immac

Senior Member Has-Been
Bank Interest Rate Offer
Normally, the new customer offers are only for the first month, after that, they go down
Got too much on at the mo to mess about for 1% for a month
I think these offers are subject to tax, which used to be 15%, but perhaps I am out of date on that. So you could be running around chasing 0.85% - a lot if you are a multi-millionaire, but not so much for the average person.

Ian
 

ted j

Member
Bank Interest Rate Offer
They dropped the tax to 5% in September , I think for 3 months initially
 

carolinej

Member
Bank Interest Rate Offer
we are with hsbc ,and defo not new customers ,however we did open a new savings account with only a few thousand pounds and we got 27%,wish we had more then we could have gotten 29% this was about 3 weeks ago.
 

immac

Senior Member Has-Been
Bank Interest Rate Offer
we are with hsbc ,and defo not new customers ,however we did open a new savings account with only a few thousand pounds and we got 27%,wish we had more then we could have gotten 29% this was about 3 weeks ago.

I do not think you got 27% on a GBPound account. Perhaps it was changed to TLira? If I am wrong, please send me the address, and I will be there Monday at opening time.

Ian
 

carolinej

Member
Bank Interest Rate Offer
we put it in our £ account and then changed it to lira .the rate will remain at 27% until the time is up ,we didn't tie it up for too long as it is needed for building works etc .but was too good to pass up and we make a few thousand lira on the way .this was in didim .
 

butt007

Warren
Bank Interest Rate Offer
Yes Ted, that is correct. Sept. Oct. Nov. Zero % TAX for 12 months or longer. 5% for 6months or less and only 3% for 6months or longer. Butt007
 
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Galaxy Girl

Galaxy Girl
Bank Interest Rate Offer
GARANTI BANK
I have an ordinary current account with Garanti and have an odd 5000tl that I could put into a savings account (staying with Garanti). Can anyone help in suggesting which of Garanti's accounts I should invest in. Money invested can be left untouched for twelve months? I've looked on line but am confused by the different accounts and interest rates offered. Some accounts only seem to be offering 7% interest although I was told interest rates are much higher. Any advice will be welcome?
 

McB

Member
Bank Interest Rate Offer
A Turkish government bond for one year will pay you 25% or more depending on the price you buy it at and it is better security and less risk then a bank deposit. You can buy it through your bank if you have an investment account with the bank. You just have to complete some additional forms at your branch.

When interest rates go down, and your deposit matures, you will be re-investing it at a lower rate of interest, and have gained nothing. But if you own a bond, when interest rates go down, the bond price goes up, and you make a capital gain.

And there are Turkish government bonds issued in Dollars, and Euro, and they have higher interest rates, in USD about 7.55 and in Eur about 4.5% and this link at Isbank shows them https://www.isbank.com.tr/TR/fiyatlar-ve-oranlar/eurobond/Sayfalar/eurobond.aspx
 
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