Make Your Money Work For You and Your Business!
For hassle free savings our time deposit accounts provide you with a wide choice of options to suit your every need all you have to do is decide the term, the currency and the amount.
Time Deposit Account: Available in Turkish Lira, Sterling, Euro and US Dollar from 1 month to 1 year, interest is guaranteed for the term and added to the account on the maturity date.
Flexible Time Deposit Account: This is a deposit account that operates in a similar way to a current account, the term of this account is between 15 & 30 days and can be accessed on a daily basis to allow payments to be made.
Terms and Operation
- Time deposit accounts, as the name denotes is a savings account with a maturity date, provided you do not access the account during the term of investment the interest less tax is added to the account at the end of the term; the maturity date of the account remains the same unless it falls on a non-working day in which case the date moves to the next working day; if you access the account during the investment term you lose any interest accrued to that date and the maturity date automatically changes to the new date; the interest rate is guaranteed only for the term of the investment and the account automatically renews itself for a further term at the interest rate of that time.
- Flexible Deposit Accounts, you can use this account in a similar way to your current account to set up automatic payment of your bills for services, credit card, loan repayments and transfers up to an agreed limit. For this account the interest is calculated daily and added to the account at the end of the term, if during the term of the investment no funds have been withdrawn then the account will benefit from the relevant timed deposit interest rate; if funds are withdrawn for any purpose then the Flexible Deposit Account interest rates will apply.