WHAT SHOULD I DO FOR THE 5 PERCENT ADVANTAGE?
In order to benefit from 5 percent income tax withholding on TL time deposits up to 6 months, the maturity of the money must be renewed before April 30, 2024. Thus, a return of 10 points higher than the interest income obtained from the principal is achieved. It is expected that the advantage of withholding tax rates will continue with the regulation to be made.
BANKS ARE IN THE INTEREST RATE RACE! 70 THOUSAND LIRA INTEREST RETURN FOR 100 THOUSAND LIRA…
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Banks offer special interest rates to those who want to invest their savings in deposits. With the Central Bank increasing the policy interest rate to 50 percent, banks also started to raise their interest rates. While the interest rate approached 70 percent in the 3-month term, inflation was 68.50 percent in March. Although inflation remains low according to the Central Bank’s forecasts in the following months, guiding messages continue to be given to the market and it is stated that interest rates will remain high for a while.
Tags: Banks interest rate race thousand lira interest income thousand lira
