What is the latest situation with deposits after the interest rate cut? Here is the monthly return on 1 million TL

The Central Bank lowered the policy rate from 50 percent to 47.5 percent in a move that exceeded market expectations.

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.

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.

While banks have redefined rates for short-term deposit accounts, there has been a more limited change in returns for long-term investments.

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.

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.

Here are the amounts banks are offering for 1 million TL and the deposit rates...

TEB Interest Rate: 53% Net Gain: 41,819.18 TL Amount at Maturity: 1,041,819.18 TL

GARANTİ Interest Rate: 53% Net Gain: 41,819.18 TL Amount at Maturity: 1,041,819.18 TL

FİBA BANK Interest Rate: 52% Net Gain: 41,030.14 TL Amount at Maturity: 1,041,030.14 TL

ODEA BANK Interest Rate: 52% Net Gain: 41,030.14 TL Amount at Maturity: 1,041,030.14 TL

EN PARA Interest Rate: 46% Net Gain: 36,295.89 TL Amount at Maturity: 1,036,295.89 TL.