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Deposit Interest Calculator

Enter the amount, the bank’s yearly rate and the term in days. Gross interest, the withholding tax for the term and the net return are worked out the way banks do, by days.

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The yearly rate the bank quotes; for a participation account, the expected profit share.

 

 

Net interest15,189.04₺over 32 days, after withholding tax
  • Gross interest18,410.96 ₺
  • Withholding rate17.5%
  • Withholding tax3,221.92 ₺
  • Net yearly yield34.65%
  • Balance at maturity515,189.04 ₺

Withholding rates: GİB / Cumhurbaşkanı Kararı

How it is calculated

Banks pay simple interest on time deposits at maturity, by calendar days. Withholding tax is deducted at source, at a rate that depends on the term, and no tax return is needed for it. The rate in force when the account was opened or last renewed applies.

FormulaBrüt faiz = Anapara × Faiz × Gün ÷ 36.500; Net = Brüt × (1 − Stopaj)Withholding on lira deposits: up to 6 months 17.5%, up to 1 year 15%, longer 10%; foreign-currency deposits 25%. Six months counts as 183 days.

Example

₺500,000 at 42% a year for 32 days earns ₺18,410.96 gross. After 17.5% withholding (₺3,221.92) you keep ₺15,189.04, a 34.65% net yearly yield.

Frequently asked questions

What is the withholding rate on deposits?

Lira deposits: demand and up to 6 months 17.5%, up to 1 year 15%, longer 10%. Foreign-currency deposits 25% for all terms. Participation accounts follow the lira deposit rates.

What if I roll the deposit over every month?

Each maturity adds the net interest to the principal, compounding it. Use the interest calculator’s compound option to compare yearly returns.

Source

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