Kibkom North Cyprus Forum

Any advice on which banks offer the best interest on turkish lira?

I always think garanti bank are a good guide as they are competitive and publish their rates here

https://www.garanti.com.tr/en/personal_ ... UID28edc6a

Unlike the local banks there is no discretion so it serves as a good guide . In my experience capital bank have historically offered the most when i shopped about with universal banik close behind . If you are after the highest rate show capital bank what garanti bank are offering for the sum you have and term required and ask for more !

As for sterling a momth or so ago capital bank told me for £20 k and above they will pay 5..5 % and maybe for 5.75 % for larger amounts . I personally would not put more than the 20000 euro goverment guarantee limit with any bank even then its a wing and a prayer .

And dont for 1 minute believe the banks when they tell you get that you can get round that by having multiple accounts thats the biggest nonsense ive heard . They all swear by it ........absolute nonsense .

nermal wrote:Any advice on which banks offer the best interest on turkish lira?

Obviously depends on amounts and be very careful not to put too much in lire. If you put say £10,000 in lire a year ago it would be have nearly halved in value so you would have to have got one hell of an interest rate.
Shop around but Near East seem competitive

If you invest in Tl now and the country gets back on its feet and the US and Turkey become friends again then you will be quids in for sure.

If if if is always a high risk strategy.

David wrote:If you invest in Tl now and the country gets back on its feet and the US and Turkey become friends again then you will be quids in for sure.

The fact that the lire has only strengthened by less than six percent after a base rate rise of six and a quarter per cent rise isn’t encouraging