Updated Return on 1 Million TL Term Deposit: How Much Do Banks Pay?
The Central Bank of the Republic of Turkey (CBRT) surprised markets in July by cutting its policy rate by 300 basis points, lowering it from 46% to 43%. The overnight lending rate was reduced to 46%, and the borrowing rate to 41.5%. Following this decision, deposit interest rates across banks also declined.
Investors closely monitoring the interest rate environment are now recalculating their potential earnings. As of July 28, 2025, according to data from hesap.com, here’s how much a 32-day term deposit of 1 million TL earns at various banks:
Türkiye İş Bankası offers a 37% interest rate, yielding a net return of 26,761 TL. Ziraat Bankası provides 28,208 TL at a 39% rate. Yapı Kredi’s 42.5% rate results in 30,739 TL, while Odeabank offers 31,101 TL at 43%. Garanti BBVA provides 32,547 TL at 45%.
Onplus offers 29,426 TL at a 45.5% rate, and Akbank gives 32,909 TL with the same rate. Enpara offers 33,271 TL at 46%. Hayat Finans, with a profit share rate of 46.38%, provides 33,546 TL.
Despite offering a 46.5% interest rate, QNB yields only 29,913 TL. Denizbank, at the same rate, offers 33,632 TL. Cepteteb’s 47% rate results in 29,376 TL, while Getir Finans pays 31,968 TL at the same rate.
HSBC stands out with a 49% rate, yielding 35,441 TL, and ING tops the chart with 35,948 TL at the same 49% rate. Fibabanka, offering a 51% rate, provides 31,921 TL, while Alternatif Bank gives 32,919 TL at the same rate.
In summary, although interest rates appear high, net returns vary significantly between banks. ING, HSBC, and Denizbank currently offer the highest returns. When choosing a bank, it’s crucial to consider not just the interest rate but also factors like tax deductions and promotional terms.
