Dual Currency Deposit (DCD) Account
This account combines a money market deposit account with a currency option to provide a higher yield than that available for a standard timed deposit. There is a higher risk than with the latter - the depositor can receive less funds than originally deposited and in a different currency. So one could do a USD/TL DCD (Dual Currency Deposit) depositing USD and receive TL.
The Dual Currency Deposit (“DCD”) is a foreign exchange linked deposit in which the principal can be repaid after being converted into the alternative currency at the strike rate on the maturity date depending on the spot foreign exchange rate. The returns are higher than the returns on normal timed deposits in compensation for the higher risks that are associated with DCDs due to being exposed to foreign exchange.
For details of this and other investment products please visit any of the Iktisatbank branches or call our Telephone Banking on 444 4 444.