Deposit Rate (TL)
The weighted average interest rate (flow) banks apply to newly opened TL deposits. CBRT EVDS data, updated weekly.
The full historical series extends back to January 2002 (1,273 records). Hover over the chart to see period values. Source: CBRT EVDS.
How Is the Deposit Rate Determined?
The deposit rate is shaped by the CBRT policy rate, banks’ liquidity needs, and competition. The rate published by the CBRT is the weighted average of new TL deposit accounts opened that week; therefore it reflects the current market trend.
Difference Between Gross and Net Interest
The published rate is gross. Withholding tax (income tax) is deducted from deposit interest income; the withholding rate generally decreases as the maturity lengthens. The withholding tax must be taken into account when calculating the net return you will receive.