Turkey - Deposit interest rate (%)

The value for Deposit interest rate (%) in Turkey was 20.70 as of 2021. As the graph below shows, over the past 43 years this indicator reached a maximum value of 87.79 in 1994 and a minimum value of 6.00 in 1978.

Definition: Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1978 6.00
1979 7.33
1980 8.00
1981 26.50
1982 45.00
1983 45.33
1984 51.42
1985 49.25
1986 40.58
1987 35.00
1988 49.08
1989 53.79
1990 47.48
1991 62.68
1992 68.74
1993 64.57
1994 87.79
1995 75.97
1996 80.75
1997 79.49
1998 80.11
1999 78.43
2000 47.16
2001 74.70
2002 50.49
2003 37.68
2004 24.26
2005 20.40
2006 21.65
2007 22.56
2008 22.91
2009 17.65
2010 15.27
2011 14.11
2012 17.19
2013 15.30
2014 16.94
2015 14.92
2016 14.61
2017 15.29
2018 23.28
2019 25.41
2020 13.36
2021 20.70

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

Statistical Concept and Methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Interest rates