Recent market dynamics have impacted deposit interest rates, causing banks to increase their deposit interest rate offerings. Here is the current situation regarding deposit interest rates…Following the market volatility, there has been a reversal in deposit interest rates. Initially brought down by the Central Bank’s interest rate cuts, deposit interest rates have started to rise due to measures taken by the economic administration. Interest rates applied to deposits by banks have surpassed the 42.5% policy rate. Short-term deposit interest rates have once again risen to the range of 45-48%. Last week, the interest rate on 32-day deposits was applied at 42.5%. The Central Bank of the Republic of Turkey (CBRT) increased the overnight lending rate by 2 points to 46% to support the Turkish Lira. Additionally, according to a report on Bloomberg, it is stated that the economic administration is reconsidering reducing the withholding tax on deposits. Return on 100 Thousand Lira Deposit Amount: 100 thousand lira Deposit rate: 48% Deposit term: 32 days End of term return: 3,577 lira Return on 1 Million Lira Deposit Amount: 1 million lira Deposit rate: 48% Deposit term: 32 days End of term return: 35,770 lira