Deposit interest in Turkey is subject to withholding tax, so the amount you receive at maturity is the net figure after tax. To understand your real return, you need both the gross interest formula and the applicable withholding rate.
How to Calculate Gross Interest
Simple interest formula: Principal x (annual rate / 100) x (number of days / 365). For example: 10,000 TL at 50% annual rate for 90 days = 10,000 x 0.50 x (90/365) = 1,233 TL gross. Banks may quote rates as annual, monthly or per-period — check the contract for clarity.
Withholding Tax and Net Return
Deposit interest is subject to income tax, withheld by the bank at source. Net return = gross interest minus withholding. The withholding rate is set by law and can change. Check the current rate from official sources (TCMB, Revenue Administration) before calculating. Net return = gross interest x (1 - withholding rate).
Practical Tips
Compare options by annualized rate, not just nominal rate. Sometimes a shorter-term deposit has a higher annualized yield than a longer one. If liquidity is a priority (e.g. for an emergency fund), keep the term short. For money you do not expect to need, a longer term at a higher rate makes sense. Always check what the early withdrawal penalty is before locking in.
Tip
Use the deposit interest calculator in butce.app's financial tools section to calculate gross and net return for any principal, rate and term.
Calculating the return on a deposit is the first step of the decision. But knowing how much you can safely commit for how long requires a clear picture of your monthly expenses and upcoming fixed payments. If the savings figure is approximate, you risk locking in more than is safe — and breaking a deposit early usually reduces the effective return. The calculation and the budget tracking work together.
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