princess23

Hi all

When we were in Turkey we set up a bank account with Finansbank and were told to open the high interest account we would have to deposit 5000 YTL. We were told the current interest rate is 19% and about 15.4 after tax. We were told that it can be paid monthly but on a payment of say £100000 that was they transferred into the lira account how much interest would we be looking at getting a month.

Apologies if this question has been answered before! x

RIK

Princess, you need to put your money into a Turkish Goverment Bond. There are many to choose from with different maturity dates.Just choose one that suits you.At the moment with HSBC. they pay 20 % but then you get the Tax and Bank Charges.I don't know of anywhere else that you would get this kind of interest rate.

Ian

lee08

Hi
this is what i have so far,hope it helps? The guy is with Fortis Bank in Fethiye
Lee
1 Day-26 Days 17%
27 -75 days 18%
76-135 days 18.5 %
77-136 days 18.75%
137-225 days 19%
226-300 days 19.25%
301 -365 days 19.75%
If you have more then £44,000 then you will get a better rate,its the same for a bond. At the moment its 20% for a 1 year bond ,but sure you can haggle a better price
Lee

lee08

Hi again,
if you had a 1year bond say @ 20%, you put in £100,000 you would get £20,000 gross,this is 17% net,so you then pay tax on that amount which would be 10%.
You would make a profit of £15,300. But would have to stay in there for the whole year. For time accounts from 1 month to 12 months,the tax on your profit would be 15% .
Hope this helps?
Lee

yuksel128

formul is = total money*0.85 (constant number )* day (which you want ) * % percent( interested) they give you
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36500 (day of a year*100 )
finally you also can calculate how much money you will get