Yeah, but Turkey has a much, much higher rate of inflation than the UK and the value of the TL is on the slide again.

when you open the account you open it in ytl and open a 1 year fixed interest rate[ you must not touch it for 1 year. you are guaranteed at the moment 14 % ie £5000 = 13000 ytl int at end of year £560 = you still have 13000 ytl at end at 2.60 to £

Sorry, but if inflation is beginning to run away in Turkey (again). The IMF set the Turkish Government targets of around 6 per cent. It's now risen to 10 per cent. The Central Bank has oly raised interest rates in an attempt to curb inflation.

Locking up your savings for 12 months doesn't make sense.

Heaven knows, there's lots wrong with the UK, but the economy is far more stable than Turkey's.

i was wrong saying locked up,you can access your money at any time ,when you open your ytl bank acc you also open a sterling acc, you tell the bank that if the lire drops below a certain level they transfer it back into sterling.but if you want to get the 14 % int on your original investment you must not touch it for a year,but it is not locked up in such a way as you cant do what you want with it ,and you wont get nothing like 14% in the uk,a few weeks back the banks were giving 2.6 to the pound, now they give 2.8 so opening an acc now will give you more ytl to your savings

playing the currency game is always risky. but in turkey at least you stand a chance to get a decent return. the inflation here has risen due to oil prices,as is the case with everywhere.and as a matter of interest Rich, has you council tax,water and electric bills risen in line with inflation?

You can keep your money in for 1 day to 365 days your choice and then transfer it out and interest rate varies between 1 and 3%(approx) but remember you need to pay tax on interest earned.

Ask the bank to set up an ELMA account

Have to agree with you Rich C. National press today offers Alliance and Leicester savings account at 12% for 12 monthy payments and there are other such as Halifax offering 10%, just finished one myself with the Leeds at 10%. Why go to the hag of a savings account in Turkey (unless you live there) for 2% extra before tax