Deposit Interest Calculator (Turkey)
Gross interest, withholding tax and net maturity balance for TL deposits.
A deposit of TRY 100,000 at 48% gross annual interest earns TRY 3,471.78 net over a 32-day term after 17.5% withholding; the balance at maturity is TRY 103,471.78.
Calculation breakdown
| Gross interest | ₺4.208,22 |
|---|---|
| Withholding rate | %17,5 |
| Withholding amount | ₺736,44 |
| Net interest | ₺3.471,78 |
| Balance at maturity | ₺103.471,78 |
A time deposit (vadeli mevduat) is the most common savings product in Turkey: you commit your money for a fixed term and earn interest at a rate the bank announces in advance. The advertised rate is always a gross annual rate — interest accrues only for the days of your term, and a withholding tax is deducted from the earnings at source. This tool reads the withholding brackets in force for 2026 from the parameter store and shows the gross interest, the tax and the net balance you will receive at maturity.
How is it calculated?
Three steps:
- Gross interest uses the simple-interest formula Turkish banks apply:
gross = principal × annual rate × term days / 365. The year always counts as 365 days, so a 32-day deposit accrues 32/365 of the annual rate. - Withholding tax (stopaj) is deducted at source under Provisional Article 67 of the Income Tax Law. The rate depends on the length of the term — longer terms get lower rates. The current brackets are listed in the parameter table on this page with their official source; the tax equals
gross interest × withholding rateand is taken from the interest only, never from the principal. - Net interest = gross interest − withholding. At maturity the bank credits your principal plus the net interest.
All intermediate amounts are rounded half-up to the kuruş. The tool computes a single term; if you roll the deposit over with its interest, the next term starts from a larger principal — that compounding is a separate calculation.
| Parameter | Value | Source |
|---|---|---|
| Deposit withholding (by term) | ≤180 days: 17.5% · ≤365 days: 15% · 10% | Resmî Gazete – 9.7.2025 tarihli nüsha, 10041 sayılı CK tam metni (2025-07-09) |
Example
Suppose a saver places a lump sum in a 32-day deposit. The bank quotes a gross annual rate, but only 32/365 of it accrues over the term. The withholding rate for short terms is then applied to the gross interest, and the remaining net interest is credited together with the principal at maturity. The same principal locked for more than a year earns interest for longer and also falls into a lower withholding bracket. Enter your own principal, your bank's gross annual rate and the term in the tool above to see the exact figures.
Frequently asked questions
How is deposit interest calculated in Turkey?
Gross interest equals the principal multiplied by the annual rate and the number of days in the term, divided by 365. Withholding tax is then deducted from that interest according to the term bracket, and the net amount is paid out with the principal at maturity.
What is the withholding tax (stopaj) on deposits?
It is an income tax deducted at source from the interest a deposit earns, with rates tiered by term length — the longer the term, the lower the rate. The current brackets and their official source appear in the parameter table on this page. The principal itself is never taxed.
Is the advertised bank rate gross or net?
Bank rates in Turkey are quoted as gross annual rates; withholding tax is deducted on top of that. To know what actually lands in your account, look at the net interest — this tool shows both.
Why is a "1-month" deposit 32 days?
Turkish banks commonly open one-month deposits with a 32-day term, and interest accrues per day, so the tool works in days. Terms with different day counts earn proportionally different interest.
What happens if I withdraw before maturity?
If you break the term early, banks generally pay no interest at all, or only the very low demand-deposit rate. Choose a term you are confident you will not need the money during.