With the exception of demand deposits, the 1 month/30 day time deposit is the shortest maturity offered for this fixed interest product and the indicated rate is an internet banking rate for below 500,000 Lira.
Q: I am moving to turkey u have £220000
If I convert it to Tyrkish lira Wat is the best rate I can get if I lock it in for 6minths to a year and how much will it earn a month
Reply•Colin from Royal Tunbridge Wells, United Kingdom•
R: Hi Colin, I have just sold my apartment in Turkey and have put 150,000TL into the TEB bank, I opened an internet time deposit account with them which they helped me setup in the branch. I have opted for a 6 month time deposit with an interest rate of 11% but any interest earned you will pay 15% tax on, therefore on my amount invested after tax I will receive 6905 TL, the time deposit will automatically renew for another 6 months at the new higher figure. Hope this is of some help to you.
I'm looking to purchase a property in Turkey and would like to open an account in the bank, plus I also want to deposit around 50000 GBP to earn interest on it. Please guide how much return will be on this deposit.