The upper limit of the interest rate on deposit accounts with currency protection has been removed.

SHAFAQNA Türkiye – Economy The Decree of the President on this issue came into force after its publication in the Official Gazette. The regulation is aimed at increasing the demand for Turkish Lira financial instruments, ensuring the efficiency of financial markets, increasing the depth of financial markets, promoting the healthy development of the financial sector and the national economy by maintaining stability. in the exchange rate.

The Decree removed the upper limit on the Turkish lira interest rate applicable to time deposit accounts with currency protection. The interest rate to be applied to Turkish Lira protected deposit accounts will be freely determined between banks and beneficiaries.

Previously, a maximum interest rate of 3 percentage points above the discount rate could be applied to protected Turkish lira deposit accounts.

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