Attention those with money in the bank: TL deposit interest rates reach record levels
While the interest rate on consumer loans has exceeded 82 percent, the interest rate on TL deposit accounts has approached 60 percent.
12punto
According to the weekly money and banking statistics announced by the Central Bank of the Republic of Turkey (TCMB), the total deposits of the banking sector (including interbank) increased by 79 billion 320 million 228 thousand liras in the week ending March 22.
Thus, total deposits reached 16 trillion 14 billion 952 million 94 thousand liras.
While deposits increased, interest rates also hit a new record.
1-3 MONTH TL DEPOSIT INTEREST RATES APPROACHED 60 PERCENT
As reported by Bloomberg HT, the 1-3 month TL deposit interest rate rose from 55.7 percent to 59.5 percent.
Commercial loan interest rates reached 62.7 percent from 58.5 percent.
Consumer loan interest rates, which broke a record last week, reached 82.1 percent from 76 percent.