Time Deposit Rates
Time Deposit Interest Rates Exclusive to Digital Banking Channels
When putting your savings to work, seeing the right interest rate is the first step in choosing the right term. When you open your İktisatbank Time Deposit Account through Internet Banking or Mobile Banking, you benefit from more advantageous interest rates compared to branches.
The interest rates in the table below are offered for Internet Banking and Mobile Banking channels.
| TERM [DAYS] | TL | USD | EUR | GBP | XAU | XAG |
|---|---|---|---|---|---|---|
| Overnight | 32.00 | - | - | - | - | - |
| 1 Ay | 34.00 | 3.25 | 2.50 | 3.00 | 0.50 | 0.40 |
| 3 Ay | 28.00 | 3.35 | 2.75 | 3.25 | 0.50 | 0.40 |
| 6 Ay | 25.00 | 3.45 | 3.00 | 3.35 | 0.50 | 0.40 |
| 12 Ay | 25.00 | 3.50 | 3.25 | 3.50 | 0.50 | 0.40 |
With the Savings Calculator, you can easily calculate the return on your Turkish lira or foreign currency deposits with our bank and instantly see the Interest Rate, Interest Earnings and Total Principal Amount you will receive at the end of the term.
Pursuant to Article 11, Paragraph (1) of the Savings Deposit Insurance and Financial Stability Fund Law No. 32/2009, the insurance coverage for savings deposit accounts applies to the total sum of principal and interest per account. In accordance with the Savings Deposit Insurance and Financial Stability Fund Law and Decision No. 1416 dated October 31, 2024, issued by the Board of Directors of the Central Bank of the TRNC, the maximum coverage limits per account are specified below:
- Deposit Accounts Belonging to Funds: 100,000 EUR
- Deposit Accounts Belonging to Individuals and Charitable Institutions: 20,000 EUR
In accordance with the Banking Law, "Banks may not accept deposits or participation funds from persons resident in Northern Cyprus on behalf of their branches, headquarters or subsidiaries located abroad, or on behalf of other banks or non-bank financial institutions."
Frequently Asked Questions About Time Deposit Interest Rates
Time deposit interest rates are determined by factors such as:
- The Central Bank of the TRNC policy rate,
- The principal amount deposited, its currency and the selected term,
- Banks' own internal dynamics.