As it became known, after the new decision of the Central Bank of the Republic of Turkey regarding KCM, banks made changes to deposit rates. This new solution is said to have prompted banks to start offering deposit accounts to customers. Because lately we have seen an increase in the inflow of money into deposits. However, today’s events show that interest rates have risen to record levels.
Express statement of former official Ziraat and Halkbank!
Especially one of the names closely watched by the financial world. prof. Dr. Senol Babuscuannounced the new campaign launched by the banks in a statement on Twitter. According to Babusciu, interest rates of up to 45 percent for 92-day deposit accounts and 40 percent for 32-day accounts have begun to be offered.
Babush’s statement on Twitter reads as follows:
If the client transfers 50% TL KKM to a monthly deposit in TL at maturity;
40% up to 32-91 days, 45% up to 92-95%
It earns interest.”
So what will be the profit at such interest rates?
To what extent will these high interest rates save a citizen’s pocket? Let’s do a quick calculation:
32 days interest: It will provide a refund of TL 16,656 with 40% interest for 500 thousand lira, TL 33,314 for 1 million lira and TL 66,628 for 2 million lira.
92 days interest: In the amount of 500 thousand liras, 53 thousand 875 Turkish liras will be provided with a 45 percent interest rate, 107 thousand 752 Turkish liras for 1 million liras and 215 thousand 504 Turkish liras for 2 million liras.