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The Central Bank lowered the policy rate from 50 percent to 47.5 percent in a move that exceeded market expectations.
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Following this 2.5 percent cut, banks' deposit interest rates were also readjusted. Investors are closely monitoring how the interest rate reduction process is reflected in deposit accounts.
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AT WHAT LEVEL ARE DEPOSIT INTEREST RATES?
Deposit rates, which followed a stagnant course before the interest rate decision, have entered a downward trend with the latest updates.
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While banks have redefined rates for short-term deposit accounts, there has been a more limited change in returns for long-term investments.
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HOW MUCH IS THE MONTHLY RETURN ON 1 MILLION TL?
According to the new regulations, the monthly return for an investor evaluating their 1 million TL savings in a deposit account has also changed.
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Depending on the interest rate, while this gain varies across different banks, it has generally been observed to have a downward trend compared to the previous period.
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Here are the amounts banks are offering for 1 million TL and the deposit rates...
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TEB Interest Rate: 53% Net Gain: 41,819.18 TL Amount at Maturity: 1,041,819.18 TL
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GARANTİ Interest Rate: 53% Net Gain: 41,819.18 TL Amount at Maturity: 1,041,819.18 TL
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FİBA BANK Interest Rate: 52% Net Gain: 41,030.14 TL Amount at Maturity: 1,041,030.14 TL
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ODEA BANK Interest Rate: 52% Net Gain: 41,030.14 TL Amount at Maturity: 1,041,030.14 TL
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EN PARA Interest Rate: 46% Net Gain: 36,295.89 TL Amount at Maturity: 1,036,295.89 TL.
News Source : 12punto
