32-day deposit return on 500,000 TL: Which bank offers the highest net gain?

Deposit interest rates and profit-sharing rates of participation banks continue to remain on the agenda of investors who want to evaluate their savings in the short term. Calculations made for 500,000 TL over a 32-day term showed that there are significant differences between banks in terms of net gain and maturity-end balance.

According to the calculations, the option that provided the highest net return for 500,000 TL over a 32-day term was Türkiye Finans. The net gain calculated with a 45 percent profit-sharing rate was stated as 15,338 TL, and the maturity-end balance as 515,338 TL.

Hayat Finans took second place on the list with a net gain of 15,105 TL, and Türk Ticaret Bankası took third place with a net gain of 14,963 TL. In cases where a bank has more than one product, the option providing the highest net gain was taken into account.

32-DAY NET RETURN BY BANK

As experts frequently emphasize, looking only at the announced interest or profit-sharing rate may not be sufficient when choosing a deposit account. Withholding tax deductions, non-interest-bearing amounts, campaign conditions, and the account's product structure can change the net amount received at the end of the term.

Especially in some daily-term or promotional accounts, the entire principal may not be evaluated at the announced rate. Therefore, it is important for investors to compare banks' current rates, conditions, and the net balance that will be formed at the end of the term together before making a decision.

Deposit and profit-sharing rates can change according to banks' campaigns, customer profiles, and market conditions. For this reason, it is necessary to check the current terms of the relevant bank before opening an account.

News Source: 12punto