The return on 1 million TL has been revealed: An 8 thousand TL difference between 32-day returns

With the interest rate cut made by the Central Bank last week, the policy rate was reduced to 45.00 percent. Following this move by the CBRT, banks have also rapidly pulled back their deposit interest rates. This week, a 50 percent deposit interest rate for high amounts remained at only 1 bank.

It is observed that the interest rate varies between 40 percent and 50 percent, especially for high-amount deposits. This 10-point gap causes returns to differ significantly for deposits of the same amount and term. Today, lower deposit interest rates are notable at public banks.

BANK DEPOSIT RATES

As of the week of January 27, the banks offering the highest interest rates for 1 million TL deposits are as follows:

-ING Bank: 50.00%

-Fibabanka: 49.50%

-Alternatif Bank: 49.00%

Again, the lowest interest rates offered for 1 million TL deposits this week are as follows:

-Halkbank: 40.00%

-İş Bankası: 41.00%

-Ziraat Bankası: 42.00%

RETURN ON 1 MILLION TL

When calculated with the highest rate of 50%, the 32-day return on a 1 million TL deposit amounts to 39 thousand 452 TL.

When calculated with the 40% rate, which stands out as the lowest, a 1 million TL deposit offers a return of 31 thousand 562 TL in 32 days.