What Is Maturity?
Definition
Maturity (Term): The period between the start of a deposit, loan or debt and the day it is repaid. Interest is calculated for this period; a deposit returns the principal with interest at maturity.
Maturity, or term, is the period between the day a deposit, loan or debt starts and the day it is repaid. Interest is calculated for this period. Time deposits quote the term in days. The interest formulas use the term in years, so months, weeks and days are converted to years.
Where it appears in the formulas
t = years + months/12 + weeks/52 + days/365. A 32-day deposit of 100,000 TRY at 40% a year earns 3,506.85 TRY gross interest and 2,893.15 TRY net after 17.5% withholding tax. For 92 days the same deposit earns 10,082.19 TRY gross and 8,317.81 TRY net. In Türkiye the 17.5% rate applies to TRY deposits of up to 6 months (Presidential Decision 10041).