With November, banks’ race for deposits accelerated again. For those who want to invest their 1 million TL savings in a time deposit account, interest rates and 32-day net income are at the top of the agenda again. The rate difference between banks also directly affects the income obtained at the end of the month.
RETURN OF 1 MILLION TL IS ON THE AGENDA AGAIN
With the beginning of November, interest in term deposit accounts increased again.
Citizens, especially those with high amounts of savings, wonder how much income they can earn by investing their money in a month’s time.
EYES ON THE 32 DAY MAINTENANCE
One of the most followed options in deposit comparisons is 32-day maturity.
The annual interest rate offered by banks is one of the main factors that determine the earnings of 1 million TL in a month.
AS THE RATE CHANGES, THE EARNINGS ALSO CHANGES
Banks’ deposit interest rates are not at the same level.
For this reason, the same 1 million TL may yield different profits after 32 days when evaluated in different banks.
Even a few points difference in interest rate can become evident at the end of the month for high deposit amounts.
