which bank offers the best interest rate

simma



Joined: 03/02/2008
Posts: 346

Message Posted:
19/02/2008 02:20

Hi everyone, I'm in turkasi bank currently giving 14% on a monthly account. I'm lead to belive that is poor. Anyone got any input?

John.

Suzphone


Joined: 10/02/2008
Posts: 50

Message Posted:
19/02/2008 07:32

Hi Simma

YesCredit West in Karaoglanoglu 19% its a lot better Than 14%.

Tony

Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
19/02/2008 09:59

Turk Bankasi has been around for 100 years.

Has Credit West?

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
19/02/2008 10:05

continental 21 %

TimothyCadman


Joined: 13/12/2007
Posts: 1040

Message Posted:
19/02/2008 10:17

Depends really how much you have to invest and the amount of time you want to tie up your capital.

glencoe


Joined: 01/02/2008
Posts: 256

Message Posted:
19/02/2008 10:24

Hi all,

It's my experience that its governed by how much money you have on deposit and which type of account you want, some one who has £5K on deposit will get less than someone with £50K and someone with £100K wont get as much as someone with £500k, it's good to shop around and ask, but the banks are now controlled a lot better than in the past and most guarantee deposits up to a certain amount.

A point here, Credit west seemingly guarantee deposits up to £20K and you can have several accounts with this amount in all guaranteed, but other banks dont, possibly worth checking out

G

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
19/02/2008 11:17

hi guys

firstly one thing i would say is keep to the well known banks, lile zirat bank, finans,garanti, hsbc, turk bankasi,vakif,seker all big turkish banks the reason i say this is because you know your money is safe, up to a few years ago banks were popping up left right and centre offering really good interest taking peoples money and then going bankrupt, even thou its more regulated now but its better to be safe than sorry

most of the top banks offer the same kind of interest 19%-20% is the standard

but like a few people have said it tottaly depends how much capital you are putting in and how long you going to leave it in for

there are many savings plans like government bonds, fones (many types of fones liquid a-b-c) you could get more interest on some savings account but remember the better the interest the higher the risk so you could loose money aswell as earn so dont always go for the better interest rate on a savings plan!!

i bank with hsbc and i keep a head of whats going on the best at the moment is monthly liquid b fones min risk with this i get 20%, how this works is you have your lump sum in lira from the first of the month to the end of the month then at the end of the month the interest you earn gets deposited into your normal savings account and if you want your lump sum carries on again, the thing is thou you cant touch your lump sum otherwise you will loose that months interest

just for a example if you have 15K in lira you earn around 500ytl a month after tax, so calculate from that

hope this helps

ukturk

orangekazzie



Joined: 31/07/2007
Posts: 1091

Message Posted:
19/02/2008 11:38

Hi Ukturk

Is the fones liquid account the same as the Time account where we can only add/remove money on a certain day of the month otherwise we lose one month's interest?

Karen

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
19/02/2008 11:56

hi karen

yes it is the same, just banks have diffrent names for it and diffrent levels min-med-high risk and you can even leave it a daily high interest acount

regards

ukturk

orangekazzie



Joined: 31/07/2007
Posts: 1091

Message Posted:
19/02/2008 12:01

Ukturk

Thank you. I'm easily confused where saving money is concerned, not so when spending it though

Karen

simma



Joined: 03/02/2008
Posts: 346

Message Posted:
19/02/2008 19:53

Thanks for all your input everyone. Anyone else got any info?

John.