It is a term deposit account that can be opened in TRY. You can earn interest income and protect your TL amount against possible currency rate fluctations.
Specifications of the account is listed below:
- In order to open the account, deposits in USD, EUR, GBP, XAU must be converted into TRY using the conversion rate announced by the CBRT.
- Maturity can be 3,6,12 months
- Zero withholding tax rate will be applied for this accounts.
- The CBRT Policy Interest Rate is applied as a minimum interest rate. Maximum interest rate is CBRT Policy Interest Rate plus 300 bps. Announced rates of this account is declared by Isbank relevant to CBRT Policy Interest Rate
- The exchange rate used on the day the account is opened is the foreign exchange buying rate announced by the CBRT at 10:00, 11:00, 12:00, 13:00, 14:00, and 15:00, which is the last foreign exchange buying rate announced at the time the foreign currency available in term/non-term USD, EUR, GBP,XAU accounts are converted into Turkish Lira.
- The minimum account opening lower limit is TRY 1 and there is no upper limit.
- Account can be opened from our branches between 10:00 and 16:30 hrs, and 24/7 via internet and mobile banking application.
- Partial withdrawals are not possible. You can close the account before maturity at work days between 11:00-17:00 pm according regulations of CBRT.
- In case of closing the account before the maturity date, the account will be updated using the lower conversion rates taken as basis on the opening and closing dates of the account. Therefore, there is a risk of loss of principal in account closings before the maturity date.
- If the exchange rate difference calculated over the foreign currency amounts converted to these accounts at the maturity date is higher than the interest income to be reflected to the account; principal and exchange rate difference will be paid to the account holder
- If the exchange rate difference at the end of maturity is lower than the interest income, only the principal and the interest amount to be accrued by our Bank will be paid to the account holder.
- The account may be renewed and continue with exchange rate protection for our customers who wish to do so following the reflection of the interest/currency difference amount to the account at the end of maturity.