The 32-day deposit return for 1 million TL has been announced: Here is the current interest rate table by bank

As economic fluctuations continue, citizens who want to protect their savings against inflation and invest with low risk continue to show interest in time deposits. Especially for high-amount savings, the difference between the interest rates offered by banks significantly changes the earnings obtained at the end of the maturity period.

Current offers from banks have been reshaped for those who want to invest their 1 million TL in a 32-day time deposit account. According to current rates, while the net earnings obtained at the end of the maturity period exceed 31 thousand TL at some banks, lower returns may emerge for the same amount at different banks.

Looking only at the interest rate is not enough

When choosing a deposit account, it is important to calculate the net amount to be obtained at the end of the maturity period in addition to the announced interest rate. High gross interest rates offered as part of campaigns do not always mean the highest net earnings.

The fact that some banks require a certain amount to be kept in a demand deposit account for their daily time deposit accounts, and that no interest is applied to this portion, can pull down the total return. Therefore, a difference can arise between the interest rate that appears high and the actual earnings that will be deposited into the customer's account.

For savers, the figure that should actually be compared is the net earnings to be obtained at the end of the maturity period after withholding tax and other deductions. This calculation reveals the real difference between the offers of different banks.

Calculation by bank for 1 million TL

Current rates in the banking sector reveal different earning options when compared over a 1 million TL principal and a 32-day maturity period.

According to the current rates offered by Türkiye Finans, Hayat Finans, Türk Ticaret Bankası, DenizBank, Akbank, QNB, and Alternatif Bank, the net returns that 1 million TL will provide at the end of a 32-day maturity period are as follows:

At Ziraat Katılım, with a 36 percent profit share rate, the 32-day net earnings were listed as 21,179 TL, with a maturity-end balance of 1,021,179 TL.

At Halkbank, for a 35 percent interest rate, the net earnings were calculated as 25,315 TL, with a maturity-end balance of 1,025,315 TL.

At TEB, with a 44 percent interest rate, the 32-day net return on 1 million TL was 27,472 TL, with a maturity-end balance of 1,027,472 TL.

For CEPTETEB, a 44 percent interest rate, 27,472 TL in net earnings, and a 1,027,472 TL maturity-end balance were announced.

At Yapı Kredi, with a 43 percent interest rate, the net earnings were 27,785 TL, with a 32-day maturity-end balance of 1,027,785 TL.

At Enpara, for a 38.5 percent interest rate, the net earnings were calculated as 27,846 TL, with a maturity-end balance of 1,027,846 TL.

At İş Bankası, with a 38.5 percent interest rate, the 32-day net earnings were 27,846 TL, with a maturity-end balance of 1,027,846 TL.

At Fibabanka, corresponding to a 46 percent interest rate, the net earnings were listed as 27,895 TL, with a maturity-end balance of 1,027,895 TL.

At Garanti BBVA, with a 39 percent interest rate, the net earnings were 28,208 TL, and the balance formed at the end of the maturity was announced as 1,028,208 TL.

At ING, for a 39.5 percent interest rate, the 32-day net earnings were calculated as 28,569 TL, with a maturity-end balance of 1,028,569 TL.

At Anadolubank, with a 46 percent interest rate, the net earnings were 28,741 TL, with a maturity-end balance of 1,028,741 TL.

At Alternatif Bank, for a 46 percent interest rate, the net earnings were listed as 28,821 TL, with a 32-day maturity-end balance of 1,028,821 TL.

At ON Dijital Bankacılık, with a 40 percent interest rate, the net earnings were 28,931 TL, with a maturity-end balance of 1,028,931 TL.

At Ziraat Bankası, with a 40 percent interest rate, the net earnings were 28,931 TL, and the balance formed at the end of the maturity was calculated as 1,028,931 TL.

At Vakıf Katılım, for a 39.5 percent profit share rate, the net earnings were 28,968 TL, with a maturity-end balance of 1,028,968 TL.

At GetirFinans, with a 40.5 percent interest rate, the net earnings were listed as 29,293 TL, with a maturity-end balance of 1,029,293 TL.

At QNB, for a 40.75 percent interest rate, the 32-day net earnings were calculated as 29,473 TL, with a maturity-end balance of 1,029,473 TL.

At Akbank, with a 41 percent interest rate, the net earnings were 29,654 TL, with a maturity-end balance of 1,029,654 TL.

At Ziraat Dinamik, it was included in the list with a 41 percent interest rate, 29,654 TL in net earnings, and a 1,029,654 TL maturity-end balance.

At Odea, with a 41 percent interest rate, the 32-day net earnings were announced as 29,654 TL, with a maturity-end balance of 1,029,654 TL.

At DenizBank, for a 41.25 percent interest rate, the net earnings were 29,835 TL, with a maturity-end balance of 1,029,835 TL.

At Türk Ticaret Bankası, with a 45.25 percent interest rate, the net earnings were calculated as 29,927 TL, with a maturity-end balance of 1,029,927 TL.

At Hayat Finans, with a 41.49 percent profit share rate, the net earnings were 30,009 TL, with a maturity-end balance of 1,030,009 TL.

Türkiye Finans provided the highest amount in the table with a 46 percent profit share rate, 31,369 TL in net earnings, and a 1,031,369 TL maturity-end balance.

Legal deductions and the maturity period are among the determining factors when calculating net earnings in deposit accounts.

The stated amounts represent the 32-day net earnings formed after deducting income tax withholding.

Time deposit accounts opened through digital banking channels can offer advantageous rates compared to branch accounts at some banks.

For savers who want to increase their returns, it is important to compare the rates of different banks on digital channels.