MJL

Member
Bank interest rate
Ok, after a massive dip in interest rate, extra tax on everything theirs finally a little good news! Banks dramatically dropped their rates down to 14%, just looked this month and my bank(denzi bank) has gone up to 18.25%, yippee!! At last!! I may now be able to relax next month
 

enoch

Member
Bank interest rate
Ok, after a massive dip in interest rate, extra tax on everything theirs finally a little good news! Banks dramatically dropped their rates down to 14%, just looked this month and my bank(denzi bank) has gone up to 18.25%, yippee!! At last!! I may now be able to relax next month
That's low you can get up to 21%
 

MJL

Member
Bank interest rate
Fibabanka is a standard 20%. New costumes 21%. For small amount money. There is other banks but cannot remember the names.
Is their on in Didim, ant find it, any help would be greatly appreciated
 

Mushroom

Member
Bank interest rate
That deposit protection limit is the only thing that hasn't risen for donkey's years and concerned me at 2.5 TL to the £.
Today it's peanuts and gives a message out, to me at least.
 

Mushroom

Member
Bank interest rate
Biggest difference in the UK is that I can earn 1.02% (and rising in Feb) with 90 days notice to withdraw against 5.4% (and rising) but I have a £85K safety net per account, not about £5500 as in Turkey.
The savings rates might be crap but the safety exists.
 

enoch

Member
Bank interest rate
Biggest difference in the UK is that I can earn 1.02% (and rising in Feb) with 90 days notice to withdraw against 5.4% (and rising) but I have a £85K safety net per account, not about £5500 as in Turkey.
The savings rates might be crap but the safety exists.
Who does the 5.4 with 3 months? Please
 

Chasey

Member
Bank interest rate
I stuck 10K in at 8 TL to the Pound giving me 80,000tl I thought at the time 8 was sustainable, but I was badly wrong. The money was intended for some work to the villa and some spending money

With interest, it now stands at 94,000 so about half what it was worth before :(

But I, fortunately, don't need the money so I can sit on it for 5 years in the hope of getting it back. In five years it should be worth around 197,000tl based on 16% interest compound, so not a disaster if you can afford to wait and frankly no worse than had I left it in my UK account, but very frustrating. I should have bailed at 15tl-£ and reinvested at 18, but I dithered about too much and in the end, decided on the slow and steady approach

I think it could get worse before it gets better but I also believe that if there's new leadership, there's a chance a more cooperative approach could take shape between the USA, EU, and Turkey and things just might recover.

Let's face it, if they could steady the ship at 18tl -£ and 16% interest, and provide confidence in the leadership, the investment would start to pour in.
 

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