Deposit interest rates at a three-year low: Returns on 1 million TL have decreased

The decline in 32-day deposit interest rates continues. The interest rate has dropped to 37.3 percent, reaching its lowest level since 2023. This decline has also led to a significant reduction in the monthly net return for deposit investors.

During the period last year when deposit interest rates climbed as high as 47.7 percent, the monthly net return on 1 million TL was approximately 34 thousand TL. With current rates, the monthly net return on the same amount has fallen to 27 thousand TL. This has resulted in a difference of approximately 7 thousand TL in returns.

In contrast to the decline in deposit interest rates, a different trend has emerged regarding personal loans. After falling to 48.3 percent, the personal loan interest rate rose again to 49.8 percent as of September 4.

Economist Mahmut Aydoğmuş, in his assessment of the situation, stated, “We have reached the lowest level of deposit interest rates in the last 3 years. Meanwhile, personal loan interest rates, which had recently fallen to 48.3 percent, began to rise again as of September 4, reaching 49.8 percent.”

While it is noted that the average monthly interest rate for personal loans is at the 3.90 percent level, it is estimated that there may be some further downward movement in deposit interest rates for the remainder of the year.

News Source: 12punto