Sterling deposit accounts. - Page 2

chrisandjill · 11th July 2018, 18:08

Are you sure it’s a sterling account,that sounds too good to be true!?

oldfogy · 11th July 2018, 18:12

Quote:

Originally Posted by Jaycey

Are you sure that isn't your TL a/c Laurie?

https://www.denizbank.com/en/rates-f...unt-rates.aspx

Thanks JC, must admit I was thinking it was a bit too good to be true.

cork laurence · 11th July 2018, 18:24

Quote:

Originally Posted by Jaycey

Are you sure that isn't your TL a/c Laurie?

https://www.denizbank.com/en/rates-f...unt-rates.aspx

I have T.L , Sterling, and Euro account. Wasn,t aware there there was a different rate of interest in different currencies! Bank manager must have forgotten to mention that to me! Most of the money in T.L. At this rate next year i will only be able to afford a garden shed!

cork laurence · 11th July 2018, 18:26

Quote:

Originally Posted by oldfogy

It was just 3 weeks ago when I asked my accounts manager (Jeffrey)
15% tax YES but only on the interest hence the reason why Ialways say I love paying tax cos it means I earnt more than I could/would have done in the UK.

But if Deniz bank, are paying 18% gross, then it might be time for another account.

was 17.5% in June, 18% this month.

oldfogy · 11th July 2018, 18:52

Quote:

Originally Posted by cork laurence

was 17.5% in June, 18% this month.

Are you still talking about a sterling account or as we susspect a TL account?

cork laurence · 11th July 2018, 19:48

Quote:

Originally Posted by oldfogy

Are you still talking about a sterling account or as we susspect a TL account?

T.L account

Kanga · 12th July 2018, 10:15

Quote:

Originally Posted by butt007

Just had a look at HSBC interest rates on their websight. It says for over 32 days 1.5% but doesn't say how much you need to have deposited. Of course at end on maturity time. You would have to pay 15% tax Butt007

I suspect that this is an annual interest rate of 1.5% paid on a monthly deposit rate basis. So you would receive 1/12 of 1.5% for a 32 day deposit. That's the whacking great rate of 0.125% per month. At that rate you wouldn't even beat inflation at current rates.
If you are a UK taxpayer the first £1000 interest is tax free for both UK and foreign bank deposits.

suecheshireuk · 12th July 2018, 15:36

Quote:

Originally Posted by cork laurence

Have a sterling account with Deniz bank, getting 18% interest. Think it's about 14% after tax.

Wow, that is amazing !!! I guess you must need to deposit at least a million £ to get that

Having read through all the replies, I see there has been a little confusion. Thanks kanga for pointing out the info regarding the UK banks, it may be worth me checking the UK out also. And thank you everyone for your replies. xx

oldfogy · 12th July 2018, 16:02

Yes all interest rates are quoted per annum then deduct the tax due followed by dividing the remainder by 12 will the give you the figure of interest per month.

And not forgetting those types of interest rates are usually on Time deposit accounts (30 day Pluss) and NOT just ordinary deposit accounts

IbrahimAbi · 12th July 2018, 17:04

Quote:

Originally Posted by bashful

Abi aure you being deducted $15 for each parcel of money you transfer to Turkey?

To be homest when one of us is in the UK we just bring a wad back in cash. i am not happy to pay the UK bank fees ( I seem to remember paying about £25 on £2000 once).