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Deposit rate

The deposit rate is the annual interest a bank pays on money placed with it for a fixed term. Time deposits are the most common savings vehicle in Türkiye.
Contents
  1. 1.Key points
  2. 2.Formula / calculation
  3. 3.Interpretation
  4. 4.Pitfalls
  5. 5.Frequently asked questions

Key points

  • Banks offer rates for terms such as 32 days, 3 months, 6 months and 1 year; the rate depends on the policy rate, the bank’s liquidity needs and regulation.
  • Deposit rates compete with money market funds and short-term bonds; withholding rates and settlement should be considered when comparing.
  • withdrawing before maturity forfeits interest.

Formula / calculation

Gross interest = Principal × Annual rate × Days / 365; Net return = Gross × (1 − Withholding). For example 100,000 TL at 45% for 32 days yields 3,945 TL gross. The Yatırımcı.AI time deposit page compares current bank rates.

Interpretation

Deposits are insured by the SDIF up to 400 thousand TL (the limit may be updated).

Deposit rates compete with money market funds and short-term bonds; withholding rates and settlement should be considered when comparing. A deposit rate below inflation means a real loss.

Pitfalls

withdrawing before maturity forfeits interest. High welcome rates are usually one-off and capped. FX-protected and foreign currency deposits carry different withholding and conditions.

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Frequently asked questions

The deposit rate is the annual interest a bank pays on money placed with it for a fixed term.

Gross interest = Principal × Annual rate × Days / 365; Net return = Gross × (1 − Withholding). For example 100,000 TL at 45% for 32 days yields 3,945 TL gross. The Yatırımcı.AI time deposit page compares current bank rates.

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