A part of everyone's money should be in time deposits . It is relative how much it should be. It depends on one's age, risk tolerance, marital status, and many other things.
But the term deposit is a kind of money rating that everyone should know. A single important issue in Turkey, we love, we usually keep all our money here. That should change.
Click to learn about other good investment tools.
What is the term deposit?
The cash in the hands of the bank, and after a while the principal + interest is to take back as. So you lock your money in the bank, give you a steady return after a period of time. The withholding tax rate on the date of publication of this article is 15 percent and it is planned to reduce withholding in longer term deposits in the future.
How does it work?
What is the term deposit?
The cash in the hands of the bank, and after a while the principal + interest is to take back as. So you lock your money in the bank, give you a steady return after a period of time. The withholding tax rate on the date of publication of this article is 15 percent and it is planned to reduce withholding in longer term deposits in the future.
How does it work?
You may think that the bank borrows from you and pays back with interest. The bank lends these funds to you as loans in the form of credit. I've opened a bank account for my last seven-year-old son, he looked at the situation a little upside, "Mother, this is unfair ... Why credit to the others I gave the 26 of the bank?" He said. So I told him the importance of the banking system. Without the banks, our economy could not be developed. The banking system cannot develop in underdeveloped countries.
Deposit rate: The bank determines the interest rate according to the amount of money you have, the time you will keep the money in the bank (maturity) and the market conditions of that day. The interest rate on deposits in banks is variable, depending on how strongly these banks want to collect money from you.
What should be the term?
Deposit rate: The bank determines the interest rate according to the amount of money you have, the time you will keep the money in the bank (maturity) and the market conditions of that day. The interest rate on deposits in banks is variable, depending on how strongly these banks want to collect money from you.
What should be the term?
In general, the maturity is at least one month and maximum one year. As the maturity extends, the interest given increases. The longer you lend to the bank, the more it pays you. If you think that interest rates will increase, it is better to connect your money monthly instead of long term. You can determine the term according to your needs, both by your interest rate expectation and when you need money.
Deposit Selection: There are varieties of deposits. You can make your choice in parallel with your needs. If you need the deposit amount before the maturity, there are time deposits that do not impair the maturity of the account when the money is withdrawn. Ask them about your bank. Returns fixed:
The maturity is not affected by interest movements in the market until the end, provides a constant return. So, whatever bank in the world gives you the interest you agreed to at the end of the term + your main money.
There is a 15 percent tax charge: the rate you get from term deposits is subject to tax. This is called 'withholding'. See the net yield: The rate of deposit interest rates given to you by banks is usually gross (the rate before the withholding tax is deducted). Let's say the gross annual return is 6 percent, the net annual return that you will receive is 6 percent x 0. 85 = 5. 1 Net interest = gross interest rate x 0. 850 Returns yearly: Let's pay 1000 TL per year with 5.1 percent net interest for one month You deposit. After one month, you don't have to pay 51 TL, you will pay 4.1 TL. Because;
Interest income = Principal x interest rate x days / 36500. So in our example, 1000 x 5. 1 x 30/36500 = 4.1 (I promise, this is the math we're going to do, not that bad?) If you shoot before : If you withdraw your deposit before the due date, no interest operation can be made. Let's say there's a day to end the term and you need urgent money, you wanted to withdraw the money. You receive the money you put, but you also waived all the returns. So consider your need for cash when deciding on maturity. My advice, if you're putting money in deposits, you can divide it into two parts. State guarantees:
State security: Each bank has up to 100,000 government guarantees per person. For example: If you have 100 deposits in A and B banks, 200 thousand money is guaranteed by the state. In Turkey, we are considering a large portion of our money in term deposits. This should change. Because there is no return without risk!
Deposit Selection: There are varieties of deposits. You can make your choice in parallel with your needs. If you need the deposit amount before the maturity, there are time deposits that do not impair the maturity of the account when the money is withdrawn. Ask them about your bank. Returns fixed:
The maturity is not affected by interest movements in the market until the end, provides a constant return. So, whatever bank in the world gives you the interest you agreed to at the end of the term + your main money.
There is a 15 percent tax charge: the rate you get from term deposits is subject to tax. This is called 'withholding'. See the net yield: The rate of deposit interest rates given to you by banks is usually gross (the rate before the withholding tax is deducted). Let's say the gross annual return is 6 percent, the net annual return that you will receive is 6 percent x 0. 85 = 5. 1 Net interest = gross interest rate x 0. 850 Returns yearly: Let's pay 1000 TL per year with 5.1 percent net interest for one month You deposit. After one month, you don't have to pay 51 TL, you will pay 4.1 TL. Because;
Interest income = Principal x interest rate x days / 36500. So in our example, 1000 x 5. 1 x 30/36500 = 4.1 (I promise, this is the math we're going to do, not that bad?) If you shoot before : If you withdraw your deposit before the due date, no interest operation can be made. Let's say there's a day to end the term and you need urgent money, you wanted to withdraw the money. You receive the money you put, but you also waived all the returns. So consider your need for cash when deciding on maturity. My advice, if you're putting money in deposits, you can divide it into two parts. State guarantees:
State security: Each bank has up to 100,000 government guarantees per person. For example: If you have 100 deposits in A and B banks, 200 thousand money is guaranteed by the state. In Turkey, we are considering a large portion of our money in term deposits. This should change. Because there is no return without risk!
0 coment�rios: