Deposit interest rates hit a peak: How much is the interest return on 1 million TL?
According to data from the Central Bank of the Republic of Turkey (TCMB), the average return on TL deposit interest rates has reached its highest level in the last 8 weeks at 52 percent. So, how much has the interest return on 1 million TL become? Here are the TL deposit interest rates of the banks....
Fatih Karahan, who was appointed Governor of the Central Bank of the Republic of Turkey following Hafize Gaye Erkan, announced his first interest rate decision yesterday (February 22). The bank kept the policy rate (one-week repo auction rate) steady at 45 percent, in line with market expectations, while the hawkish tone in the decision text drew attention.
On the other hand, according to the weekly money and banking statistics announced by the TCMB every Thursday, the total deposits of the banking sector increased by 209.3 billion liras in the week ending February 16 compared to the previous week, rising to 15 trillion 487.1 billion liras. Again, according to TCMB data, 1-3 month deposit interest rates reached the peak of the last 8 weeks at 52 percent.
Ekonomim calculated the net interest returns on 1 million TL as follows:
ING
Interest rate: 45 percent
Net return: 37,479 TL
Payment at maturity: 1,037,479 TL
ALTERNATİFBANK
Interest rate: 47 percent
Net return: 39,145 TL
Payment at maturity: 1,039,145 TL
FİBABANKA
Interest rate: 46 percent
Net return: 38,312 TL
Payment at maturity: 1,038,312 TL
ANADOLUBANK
Interest rate: 46 percent
Net return: 38,312 TL
Payment at maturity: 1,038,312 TL
TEB
Interest rate: 45 percent
Net return: 37,479 TL
Payment at maturity: 1,037,479 TL
ODEABANK
Interest rate: 45 percent
Net return: 37,479 TL
Payment at maturity: 1,037,479 TL
DENİZBANK
Interest rate: 44 percent
Net return: 36,646 TL
Payment at maturity: 1,036,646 TL
GARANTİ BBVA
Interest rate: 42 percent
Net return: 34,980 TL
Payment at maturity: 1,034,980 TL
YAPI KREDİ
Interest rate: 40.5 percent
Net return: 33,731 TL
Payment at maturity: 1,033,731 TL
TÜRKİYE FİNANS
Interest rate: 45 percent
Net return: 37,479 TL
Payment at maturity: 1,037,479 TL
AKBANK
Interest rate: 44 percent
Net return: 36,646 TL
Payment at maturity: 1,036,646 TL
VAKIFBANK
Interest rate: 43 percent
Net return: 35,813 TL
Payment at maturity: 1,035,813 TL
QNB FİNANSBANK
Interest rate: 42 percent
Net return: 34,980 TL
Payment at maturity: 1,034,980 TL
HALKBANK
Interest rate: 35 percent
Net return: 29,150 TL
Payment at maturity: 1,029,150 TL
HSBC
Interest rate: 28 percent
Net return: 23,320 TL
Payment at maturity: 1,023,320 TL
News Source: 12punto
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