Corporate Deposit Products

Business Deposits and Investment Products in Northern Cyprus

İktisatbank’s business deposit and investment products help companies operating in Northern Cyprus plan their daily cash needs, term deposits and foreign exchange transactions. You can manage Turkish lira and foreign currency accounts and learn about our time deposits, forwards and currency options.

Consider the funds you need for day-to-day payments separately from the money you can set aside for a fixed period, so that your arrangements reflect your business cash flow.

Demand Deposits for Day-to-Day Payments

You can use Turkish lira and foreign currency demand deposit accounts for collections, account transfers, EFT transactions and bill payments. Planning everyday payments separately from savings makes it easier to keep track of your business cash requirements.

Time Deposits for Business Savings

A time deposit lets you earn interest on funds held for an agreed term, subject to the account conditions. Currency, term and amount are important in determining those conditions. You can review the time deposit options available through İktisatbank Internet Banking.

Visit our deposit interest rates page for current rates. Check which accounts the table covers and confirm the conditions applicable to your company account with your branch. For product information, explore our time deposit accounts.

Foreign Exchange Forwards for Future Transactions

A foreign exchange forward is an agreement to buy or sell a currency on a specified future date at a rate agreed when the transaction is arranged. Businesses with foreign currency receivables or payables can agree the rate for that transaction in advance to make payment and collection planning more predictable.

The amount, currencies, maturity and exchange rate are agreed between the bank and the customer. A forward obliges the parties to transact under the agreement at maturity; it does not give the one-sided choice available to an option buyer. The contract terms apply even if market rates change. Contact your branch for current minimum amounts and transaction conditions.

Currency Options: Rights and Obligations

A customer buying a currency option pays a premium for the right to buy or sell a currency at an agreed rate and under specified maturity conditions. The option buyer may choose to exercise or not exercise that right under the contract. The premium is the cost of the right; the outcome and cost depend on market conditions and the agreement.

Forwards and options carry different rights, obligations and costs. Make sure you understand the transaction and its contractual risks, and discuss the product details with our bank representatives before deciding.

Discuss Your Business Requirements with Us

For information about our deposit and treasury products, visit your nearest İktisatbank branch or call Phone Banking at +90(392)444-4444. For your import and export transactions, you can also explore our foreign trade products.

Frequently Asked Questions About Corporate Deposit Products