Exchange Rate Protected Try Time Deposit Account Converted From FX

By converting the foreign currency (USD/EUR/GBP) in your accounts with our Bank into TRY at the CBRT's special conversion rate/price, you can immediately open a Exchange Rate Protected TRY Time Deposit Account Converted from FX and be protected from exchange rate/price risk and gain tax advantages.

You can open a Exchange Rate Protected TRY Time Deposit Account Converted from FX at your nearest branch or via our internet/mobile branch channels.

Features

  • The account can be opened through the branch and internet/mobile branch channels, and the type of deposit can be changed.
  • The account can be opened with a maturity of 3 months, 6 months or 1 year. The maturity date corresponding to a holiday is determined as the first working day following it.
  • More than one account can be opened.
  • As a minimum, an interest rate of 70% of the CBRT Policy Interest Rate shall be applied.
  • The CBRT announces the conversion rate daily at 10:00, 11:00, 12:00, 13:00, 14:00 and 15:00. Domestic resident legal entities will be able to open a Foreign Currency Protected TL Time Deposit Account with USD, EUR, GBP balances in our bank or other banks as of 31.08.2024 and Gold (A02) balances in banks as of 31.12.2021.
  • At the end of the maturity date, the exchange rate change will be calculated by taking into account the CBRT conversion rate used at account opening and the CBRT conversion rate announced at 11:00 on the closing date. If the exchange rate change is lower than the interest amount to be calculated with the interest rate committed at the account opening, the account is accrued interest at the interest rate. In the event that the exchange rate change is higher than the interest amount, your account will be updated to correspond to the equivalent of the index exchange rate at the opening date on the maturity date.
  • Exchange Rate Protected TRY Time Deposit Account Converted from FX can be opened between 10:00 and 16:30.
  • Partial withdrawals will not be possible.
  • Closing before maturity can be made, and in early closings, the principal amount shall be determined over the exchange rate whichever the lower among the CBRT buying rate of the foreign currency/gold sold before the account opening and the CBRT buying rate announced at 11:00 on the date the account is closed. In this case, no interest yield will be obtained.

*The specified features may change depending on the publication of a new legislation by the competent authorities or the updating of the existing legislation.

Please click here for FAQ about Exchange Rate Protected TRY Time Deposit Account Converted from FX.