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TL deposit rates and TL loan rates increased …

TL deposit rates and TL loan rates increased …

Banks TL deposit the interest rate they charge March, 19 week with an increase of 34 basis points compared to the previous week 16.80% while passing deposit interest in dollars For 6 basis points 1.06% and Deposit interest in euros With an increase of 3 basis points 0.42% it happened.

Interest rate for TL-based business loans in the same week, with an increase of 56 basis points compared to the previous week. It went to 20.45%. TL-based housing loan interest With a decrease of 2 basis points 17.64%; vehicle loan rates With an increase of 4 basis points 18.90% and consumer loan interest With an increase of 4 basis points 22.32% performed as.

Dollar business loan interest rate with an increase of 37 basis points in the same week 3.23% while passing Interest rate for business loans in euros Up to 70 basis points 3.05% it happened.

Deposit spread applied to commercial loans For TL 3.65% while for the dollar and the euro respectively 2.17% and 2.63% it happened. The deposit spread on commercial loans in TL continues to be above the spread applied to loans in dollars and euros.

Loan and deposit rates, which rose rapidly after August 2018, entered a downward trend with the CBRT interest rate cuts since July 2019. Expansive policies initiated within the scope of Covid- 19 gradually began to tighten with the return to the new normal, and there was an upward movement in TL interest rates.

In periods when interest rates are high, the difference between the interest rate applied by banks to loans increases with the interest rate applied to deposits. In other words, the spread between loans and deposits increases in times of high interest rates. BMD interprets this as that banks reflect their increases in interest rates on loans before depositing.

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BMD

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