Time Deposit Accounts

Benefit from Advantageous Interest Rates with an İktisatbank Time Deposit Account

If you want to put your savings to work securely, an İktisatbank Time Deposit Account lets you grow them profitably and safely at the most competitive interest rates in the TRNC while minimizing your risk.

Advantages of an İktisatbank Time Deposit Account

• Higher interest rates through Internet and Mobile Banking: Benefit from higher interest rates than those offered at branches when you open your Time Deposit Account through Internet Banking or Mobile Banking.
• Flexible maturity options: Choose a maturity period of 1, 3, 6 or 12 months for your Time Deposit Account.
• Principal plus interest at maturity: At the end of the term, receive your principal together with the interest earned.
• Automatic renewal: Unless you instruct us otherwise, your account is automatically renewed at maturity for the same term and at the prevailing interest rate. This allows your savings to continue growing even if you forget to renew your account.
• Easy calculation: Estimate the interest return on your Time Deposit Account in advance using the Savings Calculation tool on our website.

Interim Interest Payment Time Deposit Account

Designed for customers who prefer medium-term investments and do not want to be adversely affected by fluctuations in time deposit interest rates, the Interim Interest Payment Time Deposit Account provides the security of a fixed return throughout the term. It allows you to receive regular interest income at intervals you select before maturity and use this income for banking transactions or other needs.

Advantages of an İktisatbank Interim Interest Payment Time Deposit Account

• Flexible term, clear advantages: It offers a one-year term while combining the advantages of both short- and long-term accounts.
• Flexible interest payment frequency: Although the account has a one-year maturity, it provides regular income with monthly, quarterly or semi-annual interest payment options.
• Earn without waiting for maturity: Receive regular interest income before maturity according to your selected interim payment frequency. Interest payments are transferred to your current account on the relevant payment dates.
• Flexible access to interest income: Withdraw the interest you earn to meet your needs or use it for other banking transactions.
• Early closure terms: If the account is closed before maturity, the current account interest rate is applied and any interim interest already paid is recovered by deducting it from the principal.

Steps to Open a Time Deposit Account

• If you do not yet have an account with Kıbrıs İktisat Bankası Ltd., visit your nearest İktisatbank branch with a valid identity document and proof of residence to open a Time Deposit Account.
• Existing İktisatbank Time Deposit Account customers can easily open a new account without visiting a branch through Internet Banking or Mobile Banking, or by calling Telephone Banking on +90(392)444-4444.

Frequently Asked Questions About Time Deposit Accounts