İstanbul Gelisim Vocational School - myo@gelisim.edu.tr
Banking And Insurance
26 January 2022 Wednesday
'Transformation' Race in Banks
The obligation to switch to a foreign currency-protected time deposit account in gold and foreign currency only from the same bank has been abolished. Analysts pointed out that this decision will fuel the interest rate race between banks.
In addition, “While there is an upper limit for conversion from TL to a currency protected deposit product, there is no interest limit for conversion from foreign currency deposits to currency protected TL deposits.”
