Bank Deposit in Turkey

Did you know that by depositing the equivalent of 50,000 euros in a Turkish bank in lira, the net annual interest rate of the deposit is 46.99%? Depositing the same amount in foreign currency, namely the aforementioned euro, the annual interest rate is 1%.

However, there is an option to choose a so-called “YUVAM HESABI” account, where by depositing 50,000 euros, the bank converts it into lira and guarantees that you will earn at least 375 euros over 90 days. Additionally, if the euro exchange rate does not increase by more than 3 TL during this period, you will earn over 130,000 TL in that time.

*32-day deposits
Information provided based on one of the private Turkish banks as of 05/06/2024