Deposit Return Calculator
Deposit return is the interest income generated by a certain amount of money (principal) deposited in the bank at the end of the selected maturity.
Key Terms
- Principal: The main amount deposited in the bank.
- Maturity: The period the money will stay in the bank (in days).
- Annual Interest Rate: The gross interest rate offered by the bank for one year.
- Withholding Tax: The tax deducted by the state from interest income. Rates may vary according to the maturity period.
- Net Return: The amount you receive after withholding tax is deducted from gross interest.
Gross Interest Formula
Banks in Turkey generally use the following formula (365-day basis):
Gross Interest = (Principal / 100) * (Annual Interest Rate / 365) * Maturity (Days)
Withholding Tax Rates
Withholding tax rates vary depending on the legislation (For TL deposits):
- Up to 6 months maturity: 5%
- Up to 1 year maturity: 3% (or may vary according to current legislation)
- Longer than 1 year: 0%
Note: These rates may change during promotional periods. You can select the most commonly used rates in our calculator.
How it is Calculated?
Suppose you deposit 100,000 TL with a 45% interest rate for a 32-day term (with 5% withholding):
- Gross Interest: (100,000 * 45 * 32) / 36,500 = 3,945.21 TL
- Withholding Tax: 3,945.21 * 0.05 = 197.26 TL
- Net Gain: 3,945.21 - 197.26 = 3,747.95 TL