Latest on deposit interest rates: Monthly return on 1 million TL has changed

The Central Bank of the Republic of Türkiye (TCMB) implemented a 300 basis point rate cut in its July interest rate decision announced recently, exceeding expectations.

With this cut, the policy rate was reduced from 46 percent to 43 percent.

In addition, the overnight lending interest rate was reduced to 46 percent, and the overnight borrowing interest rate was lowered to 41.5 percent.

The TCMB's interest rate cut decision also impacted deposit interest rates.

Investors are closely following the latest situation regarding deposit interest rates following this decision by the Central Bank.

So, how have banks' deposit interest rates changed after the interest rate cut decision?

Here is the monthly return that 1 million TL will provide in a 32-day term deposit, according to data from hesap.com…

TÜRKİYE İŞ BANKASI

(Term Deposit)

Interest Rate: 37 percent

Net Gain: 26 thousand 761 TL

Amount at Maturity: 1 million 26 thousand 761 TL

ZİRAAT BANKASI

(Term Deposit - Advantageous Term Account)

Interest Rate: 39 percent

Net Gain: 28 thousand 208 TL

Amount at Maturity: 1 million 28 thousand 208 TL

YAPI KREDİ

(Term Deposit)

Interest Rate: 42.50 percent

Net Gain: 30 thousand 739 TL

Amount at Maturity: 1 million 30 thousand 739 TL

ODEABANK

(Daily Term Deposit)

Interest Rate: 43 percent

Net Gain: 31 thousand 101 TL

Amount at Maturity: 1 million 31 thousand 101 TL

GARANTİ BBVA

(Daily Term Deposit)

Interest Rate: 45 percent

Net Gain: 32 thousand 547 TL

Amount at Maturity: 1 million 32 thousand 547 TL

ONPLUS

(Daily Term Deposit)

Interest Rate: 45.50 percent

Net Gain: 29 thousand 426 TL

Amount at Maturity: 1 million 29 thousand 426 TL

AKBANK

(Daily Term Deposit)

Interest Rate: 45.50 percent

Net Gain: 32 thousand 909 TL

Amount at Maturity: 1 million 32 thousand 909 TL

ENPARA

(Term Deposit)

Interest Rate: 46 percent

Net Gain: 33 thousand 271 TL

Amount at Maturity: 1 million 33 thousand 271 TL

HAYAT FİNANS

Profit Rate: 46.38 percent

Net Gain: 33 thousand 546 TL

Amount at Maturity: 1 million 33 thousand 546 TL

QNB

(Exclusive to New Customers - Earning Account)

Interest Rate: 46.50 percent

Net Gain: 29 thousand 913 TL

Amount at Maturity: 1 million 29 thousand 913 TL

DENİZBANK

(Term Deposit - Exclusive to New Customers)

Interest Rate: 46.50 percent

Net Gain: 33 thousand 632 TL

Amount at Maturity: 1 million 33 thousand 632 TL

CEPTETEB

(Ingenious Account)

Interest Rate: 47 percent

Net Gain: 29 thousand 376 TL

Amount at Maturity: 1 million 29 thousand 376 TL

GETİR FİNANS

(Daily Term Deposit)

Interest Rate: 47 percent

Net Gain: 31 thousand 968 TL

Amount at Maturity: 1 million 31 thousand 968 TL

HSBC

(Modern Account Term Deposit)

Interest Rate: 49 percent

Net Gain: 35 thousand 441 TL

Amount at Maturity: 1 million 35 thousand 441 TL

ING

(Exclusive to New Customers - Orange Account)

Interest Rate: 49 percent

Net Gain: 35 thousand 948 TL

Amount at Maturity: 1 million 35 thousand 948 TL

FİBABANKA

(Daily Term Deposit - Cherry Account)

Interest Rate: 51 percent

Net Gain: 31 thousand 921 TL

Amount at Maturity: 1 million 31 thousand 921 TL