UK Bank interest rates,

[Jackflash]

I see Lloyds Bank has reduced it's savings interest again ,now down to 0.01%, not worth having.
Out here they throw crazy rates at you.
For instance HSBC a uk bank are offering 16% on a modern account with anything over £250 in the account, I can get anything between 12 and 18% at any bank.

 

[ivoralljack]

Good on you, JF. Can UK based citizens invest in banks over there?

 

[Jackflash]

Good on you, JF. Can UK based citizens invest in banks over there?

Yes, but not being a resident out here. I would suggest opening a small a/c with HSBC in the uk, this would give you 100% security with HSBC in Turkey.
I have a small a/c with them out here, it pays my electricity, water, gas. which is a pittance really compares to the uk.
Monthly outgoings.
Water..... £ 2-50 / 3-00 pounds
Electricity......£ 9 /11 pounds
Gas...... £1/ 1-50 pounds
I also have to buy in my spring drinking water which is 80 pence for a 25 ltr, container

 

[Yankee_Jack]

@Jackflash … What currency does the account have to be held in to get that interest rate.

 

[Jackflash]

What currency does the account have to be held in

Turkish Lira, as I quoted HSBC out here it's 3000 TL with an exchange rate of aprox. 12 to the UK £ = £250.

 

[CroJack]

In Danmark, for deposits over £28.000, there are negative interest rates. If you have more in the bank, you are losing money. Savings are not welcome anymore.

 

[Jackflash]

In Danmark, for deposits over £28.000, there are negative interest rates. If you have more in the bank, you are losing money. Savings are not welcome anymore.

Wow !!