[zeytin]

Hi All, Hoping to move to kusadasi to live permanently next year and have been hearing differant tales of bank interest rates and where best to put any capital to earn the best interest. What would be the best way to invest a large amount of capital? would it be better in turkish lira, or kept safely in gbp(but at a lower interest rate) or split between the two, All advice greatly recieved. Steve.

[Umit]

i am sure banks financial directors will help you.

[clivedrfc]

zeytin, when in kus in september was told that bank interest rates are great for savers,not sure but the interest rate was above 12%. which is a dam site better than the rate in blighty.gonna put some money in my account when i come over again in may 06.

[lorraine]

Hi Steve,
Garanti currently give 13.20% net on a ytl savings account. That is quoted on £5000 put in for 10 months, You can specify anytime limit from 1 month up to 12 months, or even how many days you would like.

Cheers,
Lorraine (say hi to Mavis!)

[kevkj]

I have heard Deniz bank offer 16.5 % and periods of
28days,48days 90 days,120 days ,300 and 400 days.
The question is if you are not there on the anniversary of that date what happens does it sit earning nothing or automatically restart earning interest?

[zeytin]

Thanks all and lorraine, We,ll have a good talk with the bank in march when we go back THATS if we can get a flight out at that time, we have been finding it difficult to get one from manchester. Take care Mavis.

[slimjim]

intrest rates are great in turkey for a reason turkish inflation is a lot higher than in uk /eire it is a lot better than it used to be but still around 8 or 9 % last time i looked something worth bearing in mind for anyone moving over and planning to live off interest from savings remember tax too
sorry to be negative and to state obvious as an ex financial consultant old habbits die hard great news for the rest of us though i have a small amount in a turkish bank and get 11.25% net once a year helps with the spending money when im over

[Umit]

forget interest rates if you would like to invest your money in Turkey. at least, you will work with markets professionals

please go to an investment company (most big banks have investment departmants)
http://www.garantiyatirim.com.tr/en/genelbilgi.asp ***** (my personal choice)
http://kurumsal.global.com.tr/indexen.asp
http://www.yky.com.tr/english/urunler/default.jsp

[mickycoops]

I'd agree with Umit, do the same as you would in the UK shop around and get some sound advice.

[Gunner]

Garanti bank has a website at www.garantibank.com.tr where you can peruse the different plans for foreigners. I have an internet account now, so when I make mistakes I will tell all! On the surface, it looks good compared to the US rates.First mistake: If you move money electronically to Turkey, send enough to last a while. Cost me $35 in the US and $100 in Turkey to move money in dollars for the same transaction. Next time, it goes in my knickers to Turkey.