14.04.2025 11:22
In the last three weeks, the increase in deposit interest rates has raised the rates offered by banks to around 50% for the first time in 52 months. Although inflation expectations have increased slightly, this has led the Central Bank of the Republic of Turkey (TCMB) to adopt a tighter monetary policy in the short term. With the market starting to be funded at 46%, the return on the Turkish lira (TL) has also increased. Here is the return on 1 million TL as of today.
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According to the news by Ö. Faruk Bingöl from Türkiye Gazetesi, the movement in deposit interest rates has been ongoing for about 3 weeks. The deposit interest rate, which fell to 47.00% in the second half of March, reached the psychological threshold of 50% again at the beginning of this week. The Central Bank of the Republic of Turkey (CBRT) raised the overnight lending rate from 44% to 46% with an "off-schedule" Monetary Policy Committee (MPC) meeting last month and started to fund the market at this rate, which also brought an increase in deposit interest rates.
EYES ON THE CENTRAL BANK'S INTEREST RATE DECISION
Most recently, the CBRT lowered the policy interest rate from 45.00% to 42.50% at the Monetary Policy Committee meeting in February. Attention has turned to the CBRT's interest rate decision this Thursday. According to the results of a survey conducted by AA Finance last week, the policy interest rate is expected to be kept stable at 42.50%. On the other hand, it is also anticipated that the market will continue to be funded at 46%.
THE CENTRAL BANK'S MEASURES HAVE REFLECTED ON INTEREST RATES
After the limited volatility in exchange rates, which was controlled with measures, there was a slight deterioration in inflation expectations. In the April market participants survey announced by the CBRT, it was observed that the year-end inflation expectation rose from 28.04% to 29.98%. Additionally, according to CBRT data, foreign currency deposit accounts have also started to rise in recent weeks, exceeding 189 billion dollars in the week ending April 4. The measures taken by the CBRT to make the Turkish Lira attractive have reflected on deposit interest rates. The highest deposit interest rate, which was 49.50% last week, has risen to 50.00% this week. Thus, the returns for the Turkish Lira have increased slightly.
As of April 14, 2025, the banks offering the highest deposit rates are as follows:
-Fibabanka Cherry Account: 50.00%
-Anadolubank Colorful Account: 49.00%
-Alternatif Bank VOV Account: 49.00%
-QNB Rewarding Daily Account: 48.50%
-Akbank: 47.50%
Considering the highest rates offered by banks, the latest returns are as follows:
CURRENT RETURN ON 250 THOUSAND TL
-Deposit Amount: 250 thousand TL
-Deposit Term: 32 days
-Deposit Rate: 50.00%
-Net Return: 9 thousand 315 TL
CURRENT RETURN ON 500 THOUSAND TL
-Deposit Amount: 500 thousand TL
-Deposit Term: 32 days
-Deposit Rate: 50.00%
-Net Return: 18 thousand 630 TL
CURRENT RETURN ON 1 MILLION TL
-Deposit Amount: 1 million TL
-Deposit Term: 32 days
-Deposit Rate: 50.00%
-Net Return: 37 thousand 260 TL
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