Deposit interest rate record at banks! How much is the return on 1 million TL?

The interest rate decision announced yesterday by the Central Bank of the Republic of Turkey (CBRT) was closely monitored, especially by deposit investors.

The Monetary Policy Committee kept the policy rate steady at 46 percent. Thus, expectations for a decline in deposit interest rates in the short term have also diminished.

WHAT IS THE SITUATION WITH DEPOSIT INTEREST RATES?

According to a report by Türkiye Gazetesi, although there have been small decreases in some banks in recent weeks, deposit interest rates are still hovering at the 53 percent level, which is the peak of the last 6 weeks. Many banks continue to offer these high rates to their customers.

Currently, the highest interest rates offered by banks are as follows:

Alternatif Bank VOV Account: 53.00 percent

Türkiye Finans Daily Account (Profit Share): 53.00 percent

Anadolubank Colorful Account: 53.00 percent

Denizbank Captain Account: 52.00 percent

Fibabanka Cherry Account: 52.00 percent

Odea Bank Oxygen Account: 52.00 percent

ING Orange Account: 51.00 percent

HSBC Modern Account: 51.00 percent

HOW MUCH ARE THE RETURNS?

According to calculations based on a 53 percent interest rate, the net returns that investors can obtain on 32-day term deposit investments are as follows: