Ana Sayfa / Money Market Funds / Deposit Equivalent

Turkish Money Market Funds vs Bank Deposits

The gross deposit equivalent of the 20 best-performing money market funds, computed from each fund's actual CAGR: "holding this fund is worth the same as a bank deposit paying X% gross." Turkey withholds 10% tax on deposit interest but not on these funds, and the figures below adjust for that difference.

8
PPF Fon
65.5%
Best equivalent
56.6%
Average equivalent
16 Sep 2026
Last updated
How this is calculated The fund's CAGR for the selected period is annualised, then grossed up by the 10% deposit withholding tax. Formula: Equivalent = CAGR / (1 − 0.10) • Money market fund returns are untaxed, so net equals gross.
Periyod: 1 Ay 3 Ay 6 Ay 1 Yıl
Reference deposit rate: ~42.0% gross
# Fon Deposit equivalent
(gross, annual) 		CAGR
(1 Ay, net) 		Size Fee
1
CHL
QNB SAĞLIK HAYAT SİGORTA VE EMEKLİLİK A.Ş. PARA PİYASASI EMEKLİLİK YATIRIM FONU
65.55%
✓ beats deposits
 +3.94% 658.33 Mn TL —
2
BPL
BNP PARİBAS CARDİF EMEKLİLİK A.Ş. BİRİNCİ PARA PİYASASI EMEKLİLİK YATIRIM FONU
63.33%
✓ beats deposits
 +3.83% 3.53 Mr TL —
3
BRG
TEB PORTFÖY BURGAN BANK PARA PİYASASI (TL) FONU
62.18%
✓ beats deposits
 +3.77% 2.04 Mr TL —
4
ICE
ICBC TURKEY PORTFÖY PARA PİYASASI (TL) FONU
ICBC TURKEY PORTFÖY YÖNETİMİ A.Ş.
60.59%
✓ beats deposits
 +3.69% 1.71 Mr TL —
5
AZL
ALLIANZ HAYAT VE EMEKLİLİK A.Ş. PARA PİYASASI EMEKLİLİK YATIRIM FONU
59.02%
✓ beats deposits
 +3.61% 98.05 Mr TL —
6
ANL
AK PORTFÖY ALTERNATİF BANK PARA PİYASASI (TL)FONU
55.96%
✓ beats deposits
 +3.46% 764.54 Mn TL —
7
ALE
AK PORTFÖY PARA PİYASASI (TL) FONU
54.71%
✓ beats deposits
 +3.39% 95.20 Mr TL —
8
ANK
VİENNALİFE EMEKLİLİK VE HAYAT A.Ş. PARA PİYASASI EMEKLİLİK YATIRIM FONU
31.78%
below deposits
 +2.12% 92.00 Mn TL —
Notlar: Deposit equivalent = CAGR ÷ (1 − 10% withholding tax). These figures reflect past performance and guarantee nothing about the future. All amounts are in Turkish lira. Data from TEFAS, updated daily. Data as of 16 Sep 2026.