Compound Interest Calculator Istanbul

Compound Interest Calculator for Istanbul

Savings accounts and deposits in Istanbul are priced off the Central Bank of the Republic of Turkey policy rate, which stood at 37% at the end of September 2026. National consumer price inflation was 29.73% in September 2026, so a saver earning exactly the policy rate would have a real return of 5.60% a year before tax.

Facts that change the answer

• Central Bank of the Republic of Turkey policy rate: 37% (September 2026, BIS series)
• Annual CPI inflation: 29.73% (September 2026)
• Real return at the policy rate: 5.60% per year (computed as (1 + 37%) / (1 + 29.73%) minus 1)
• Policy rate at each December: 2016 8%, 2017 8%, 2018 24%, 2019 12%, 2020 17%, 2021 14%, 2022 9%, 2023 42.5%, 2024 47.5%, 2025 38%
• Policy rate moves since January 2020 (month-end data): January 2020 12% to 11.25%; February 2020 11.25% to 10.75%; March 2020 10.75% to 9.75%; April 2020 9.75% to 8.75%; May 2020 8.75% to 8.25%; September 2020 8.25% to 10.25%; November 2020 10.25% to 15%; December 2020 15% to 17%; March 2021 17% to 19%; September 2021 19% to 18%; October 2021 18% to 16%; November 2021 16% to 15%; December 2021 15% to 14%; August 2022 14% to 13%; September 2022 13% to 12%; October 2022 12% to 10.5%; November 2022 10.5% to 9%; February 2023 9% to 8.5%; June 2023 8.5% to 15%; July 2023 15% to 17.5%; August 2023 17.5% to 25%; September 2023 25% to 30%; October 2023 30% to 35%; November 2023 35% to 40%; December 2023 40% to 42.5%; January 2024 42.5% to 45%; March 2024 45% to 50%; December 2024 50% to 47.5%; January 2025 47.5% to 45%; March 2025 45% to 42.5%; April 2025 42.5% to 46%; July 2025 46% to 43%; September 2025 43% to 40.5%; October 2025 40.5% to 39.5%; December 2025 39.5% to 38%; January 2026 38% to 37%
• In 4 of the last 10 years the December policy rate was above that year's average inflation

Worked example for Istanbul

Start with TRY 200,000, add TRY 2,000 a month and use 37% compounded monthly. After 10 years you would have TRY 10,065,819 from TRY 440,000 of deposits; after 20 years TRY 387,418,633 from TRY 680,000. These amounts in Turkish lira are only examples; real deposit rates offered by banks in Istanbul are usually below or above the policy rate depending on the term and the bank.

To see what that balance is worth in today's money, take inflation into account: at 29.73% a year, TRY 10,065,819 in ten years has the buying power of about TRY 745,408 now. Recent history for Istanbul's currency: 2020: 17% rate vs 12.3% inflation, 2021: 14% rate vs 19.6% inflation, 2022: 9% rate vs 72.3% inflation, 2023: 42.5% rate vs 53.9% inflation, 2024: 47.5% rate vs 58.5% inflation, 2025: 38% rate vs 34.9% inflation.

If you hold the money in a fixed deposit, the rate you lock in matters more than the compounding frequency. On TRY 200,000 over 10 years at 37%, switching from yearly to monthly compounding adds only TRY 2,991,312, while a rate 1 point higher adds TRY 778,946.

Sources: BIS central bank policy rates · BIS consumer price statistics. Checked 5 November 2026. For how the maths works, see the Compound Interest Calculator guide.