Credit Searches Increased by 20%, Deposit Searches are Decreasing.

The Impact of Interest Rate Cuts

The Central Bank of the Republic of Turkey (CBRT) has significantly changed individuals' financial product search habits with interest rate cuts it initiated in July. The decrease in loan interest rates has increased the search volume for loans on digital platforms, while interest in deposit products has begun to decline.

Loan Searches are Increasing

In the last 3 months, loan searches have shown an increase of approximately 20%, with a total of over 15 million searches recorded. This situation reflects consumers' efforts to find loans at more favorable prices to meet their financial needs.

Decrease in Deposit Search Volume

On the other hand, a 15% decrease has been observed in searches for deposit interest rates. During this period, the total search volume for deposits has decreased to around 10 million. The decline in deposit interest rates has negatively affected individuals' search for higher interest in evaluating their savings.

Conclusion

While the CBRT's interest rate cuts encourage loan searches, the decrease in deposit searches is notable. This change in financial markets provides important indicators for investors and savers.