Turkish Bank (UK) savings rates — compare every account, plus switch offers and guides

Who they are

Turkish Bank Group traces its roots back to 1901, when it was established in Cyprus as the Nicosia Savings Box, set up to support local tradesmen and businesses. It became a savings bank in 1925 and was operating internationally by 1974, opening its first London branch in Haringey. Turkish Bank (UK) was formally incorporated as a company in 1992 and now operates as a wholly-owned subsidiary of the Group. Today it is a small, specialist bank with a clear sense of purpose - it focuses on serving the Turkish-speaking community's banking needs in Great Britain.

There are six London branches: Haringey, Dalston, Edmonton, Palmers Green, Lewisham, and Borough High Street. The bank is authorised by the Prudential Regulation Authority and regulated by both the FCA and the PRA. Your money is protected by the Financial Services Compensation Scheme (FSCS) in the usual way.

Savings accounts

Turkish Bank (UK) offers a range of deposit accounts, including fixed term deposits, 35, 60 and 90-day notice accounts, a savings account, instant access account, and a Turkish Lira fixed deposit account. That last option is relatively unusual among UK-based banks and may appeal to savers with ties to Turkey.

At the time of writing, DepositScout does not hold current rate data for Turkish Bank (UK). Rates change frequently, so please check the live figures shown elsewhere on this page for the most up-to-date picture.

Is it right for you?

Turkish Bank (UK) is a niche institution rather than a mass-market challenger. Opening an account requires a branch visit for identity verification , so it is not the right fit if you prefer a fully digital experience. It suits savers who value a community-focused bank, want access to Turkish Lira deposits, or simply prefer face-to-face service at one of its London branches.

The bank participates in the Financial Services Compensation Scheme (FSCS) , so eligible deposits are protected up to the standard FSCS limit per person.

There are no current switching incentives or cash bonuses listed with DepositScout for Turkish Bank (UK) right now. As ever, compare the live rates shown on this page before making any decision - what matters most is the number your money actually earns.