Turkish banks offer interest-free loans and varying deposit rates

Turkish banks are offering various interest-free and low-interest financial products to attract new customers. Several institutions, including Akbank, Garanti BBVA, and İş Bankası, are providing interest-free packages of up to 100,000 TL for new mobile users, typically structured through combinations of installment loans and overdraft accounts with 3-month maturities.

Other banks are offering larger limits or mixed packages. DenizBank and QNB provide combined limits of up to 175,000 TL and 275,000 TL respectively, featuring interest-free components alongside low-interest loans. Yapı Kredi is offering consumer loans up to 250,000 TL with interest rates around 3.19% and options for 3-month deferment.

Regarding deposit returns, banks are also competing for savings. For a 2,000,000 TL deposit held for a 32-day term, monthly net earnings vary significantly across institutions. Rates range from approximately 38% to 44.5%, with Alternatif Bank and Türkiye Finans offering some of the highest returns in the current market landscape.