Deposit interest rates reach 46 percent

According to Central Bank data, interest rates on 1-3 month term deposits, which make up the bulk of deposits, have reached 46 percent.

Don't leave your news choices to an algorithm - decide for yourself what you read. Add 12punto to your preferred sources!

The upward trend in deposit interest rates observed in recent weeks continued last week.

According to data from the Central Bank of the Republic of Turkey (CBRT), the average interest rate on deposits with a maturity of up to 3 months was recorded at 45.9 percent for the week of November 10.

According to CBRT data, total deposits were also observed to increase as interest rates rose.

Accordingly, total deposits in the banking sector (including interbank) increased by 102 billion 309 million 105 thousand liras in the week ending November 10, rising to 14 trillion 361 billion 458 million 837 thousand liras.

During the same period, TL-denominated deposits in banks increased by 1.4 percent to 8 trillion 131 billion 388 million 890 thousand liras, while foreign currency (FX) deposits rose by 0.3 percent to 5 trillion 627 billion 272 million 183 thousand liras.

News Source: 12punto

Deposit interest rates reach 46 percent

Most Read