Financial Tools

Free online calculators for VAT, deposit interest and loan installments. Withholding tax, KKDF and BSMV included — instant accurate results.

VAT Calculator

Quick VAT
Amount Excl. VAT -
VAT Amount -
Total (Incl. VAT) -

Deposit Interest Calculator

Savings
Gross Interest -
Withholding Tax (15%) -
Net Interest -
Total (Principal + Net Interest) -

Loan Installment Calculator

Loan
Personal loan: KKDF 15%, BSMV 5% (on interest amount)
Monthly Installment -
Total Payment -
Total Interest + Tax -
Annual Cost Rate -

How to Calculate VAT in Turkey

Value Added Tax (VAT) — known as KDV in Turkish — is a consumption tax applied to most goods and services sold in Turkey. VAT can be calculated in two directions: adding VAT to an excl. amount to get the total price, or extracting VAT from an incl. price to find the net amount.

VAT Calculation Formulas

Excl. → Incl.: Total = Amount × (1 + VAT Rate / 100)
Incl. → Excl.: Net Amount = Total / (1 + VAT Rate / 100)

VAT Rates in Turkey (2024)

Turkey applies three VAT rates across different categories of goods and services:

VAT Rate Application
1% Certain basic foods (bread, fresh vegetables, fruit), newspapers, magazines
10% Processed food, medicines, hotel accommodation, some agricultural products
20% Standard rate — electronics, clothing, furniture, services and all other goods

Excl. vs. Incl. VAT

On B2B invoices, prices are typically shown excl. VAT with a separate VAT line. In retail, prices must be displayed VAT-inclusive by law in Turkey.

Why Accurate VAT Matters

Incorrect VAT calculation can lead to tax penalties for businesses. For consumers, knowing the exact VAT amount helps with accurate budget planning and expense tracking.

Example Calculation

1,000 TL + 20% VAT = 1,200 TL. VAT amount = 200 TL. Reverse: 1,200 TL incl. VAT ÷ 1.20 = 1,000 TL excl. VAT.

Deposit Interest Calculator: Net Return with Withholding Tax

Deposit interest is the return a bank pays you for keeping your money in a time deposit account. In Turkey, the interest you earn is subject to withholding tax (stopaj) — a government deduction applied at source. This means the gross interest and net interest differ significantly, especially at higher rates.

Deposit Interest Formula

Gross Interest = Principal × (Annual Rate / 100) × (Term Days / 365)
Net Interest = Gross Interest × (1 − Withholding Rate / 100)

Withholding Tax Rates by Term

Withholding tax on Turkish lira deposits varies depending on the maturity period:

Term Withholding Rate Example Terms
Up to 6 months 15% 32, 62, 91 days
6 months – 1 year 12% 181 days
Over 1 year 10% 365+ days

Example Deposit Calculation

Depositing 100,000 TL at 40% annual interest for 32 days: Gross interest = 100,000 × 0.40 × (32/365) = 3,507.00 TL. Withholding (15%) = 526.00 TL. Net interest = 2,981.00 TL. Total = 102,981.00 TL.

Most Popular Term: 32 Days

The 32-day deposit is the most widely used term in Turkey. It offers monthly renewal flexibility and good liquidity. Withholding rate: 15%.

Longer Term = Lower Tax

Deposits over 1 year benefit from a reduced withholding rate of 10% instead of 15%. For long-term savers, this difference can be meaningful.

Compare Different Banks

Interest rates vary between banks. Use butce.app's calculator to enter different rates and compare net returns side by side before choosing where to deposit.

Loan Installment Calculator: KKDF and BSMV Included

When calculating a loan installment, looking only at the interest rate can be misleading. In Turkey, loans also carry KKDF (Resource Utilization Support Fund) and BSMV (Banking and Insurance Transaction Tax) charges. Both are calculated on the interest portion and increase your monthly payment.

Loan Installment Formula

Effective Rate = Monthly Interest × (1 + KKDF% + BSMV%)
Installment = Principal × r × (1+r)^n / ((1+r)^n − 1)

r = monthly effective rate, n = term in months

KKDF and BSMV by Loan Type

Loan Type KKDF BSMV Total Tax Burden
Personal Loan 15% 5% +20% of interest
Housing Loan 0% 5% +5% of interest
Vehicle Loan 15% 5% +20% of interest

Know Your Real Loan Cost

Banks typically advertise the monthly interest rate. To understand what you'll actually pay, you need to look at the Annual Cost Rate (APR) and the total repayment amount. butce.app's loan calculator includes KKDF and BSMV and shows both the real monthly cost and a full month-by-month payment schedule.

No KKDF on Housing Loans

Housing loans are exempt from KKDF, making the real cost noticeably lower compared to personal loans at the same interest rate.

View Full Payment Schedule

After calculating, click "Show Payment Schedule" to see a month-by-month breakdown of principal, interest, KKDF and BSMV for each installment.

Annual Cost Rate (APR)

APR reflects the true annual cost of a loan. When comparing offers from different banks, always compare APR — not just the monthly interest rate.

Frequently Asked Questions

How is VAT calculated in Turkey? What is the formula?
To add VAT to an excl. amount: VAT = Amount × VAT Rate / 100. Example: 1,000 TL × 20% = 200 TL VAT, total = 1,200 TL. To extract VAT from an incl. price: Excl. Amount = Incl. Amount / (1 + Rate/100). Example: 1,200 TL ÷ 1.20 = 1,000 TL. Use the VAT calculator above for instant results.
How much withholding tax is deducted from deposit interest in Turkey?
The withholding tax rate depends on the deposit term: up to 6 months (32, 62, 91 days) 15%, between 6 months and 1 year (181 days) 12%, over 1 year 10%. Banks deduct this automatically and credit you the net amount. Use the deposit interest calculator above to see your gross and net return before committing.
What are KKDF and BSMV on Turkish loans?
KKDF (Resource Utilization Support Fund) is a levy applied at 15% on the interest of personal and vehicle loans. Housing loans are exempt (0% KKDF). BSMV (Banking and Insurance Transaction Tax) is a 5% tax on interest for all loan types. Both are calculated on the monthly interest amount and added to your installment, increasing the real cost of borrowing.
How can I reduce my monthly loan installment?
There are several ways to reduce your monthly payment: (1) Extend the term — lower monthly payment but more total interest paid. (2) Make a down payment — reduce the principal borrowed. (3) Choose a lower-rate bank — compare offers from multiple banks. (4) Consider a housing loan — no KKDF means a meaningfully lower installment for the same amount.
Did VAT rates change in Turkey recently?
Yes. In 2023, Turkey raised the standard VAT rate from 18% to 20%. Some reduced-rate categories were also updated at the same time. Current rates: standard 20%, reduced 10%, super-reduced 1%. The preset buttons in butce.app's VAT calculator reflect these current rates.
How accurate is the deposit interest calculator?
butce.app's calculator uses the standard formula applied by Turkish banks: Gross Interest = Principal × (Annual Rate/100) × (Days/365). A fixed withholding rate of 15% is applied (for terms up to 6 months). Results are accurate when the bank does not apply additional charges. For exact figures, always confirm with your bank before opening a deposit account.

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