Developed by Kuveyt Turk Participation Bank as a totally new alternative to TL and foreign exchange indexed credits, Gold Indexed Finance has been put into service for the companies, small-scale enterprises, manufacturers, jewelers and money changers that engage in precious metals work and desire to make their credit repayments on equal installments as indexed to gold. Special for the Kuveyt Turk customers who engage in gold work, Gold Indexed Finance has become a significant alternative in funding.
Monthly repayments are fixed and made as much as grams determined on the basis of that day’s selling rate of gold. Repayment is also made with the gold in the account.
Our customer who engages in jewelry would like to finance the business place amounted to 100,000 TL that he/she shall purchase on behalf of his/her enterprise as indexed to gold and with 6-month maturity. In the event our gold indexed finance profit rates are 0.35% monthly and the rate of gold is 1 gr gold = 62.78 TL, the gold equivalent of the business place at a valuation of 100,000 TL that our customer would like to purchase shall be 1,592.86 gr and the repayment schedule of our customer shall be as follows. In return for the financing, our customer shall repay 268.90 gr gold for each installment and purchase the business place that he/she wants as indexed to gold. Our customer shall be able to pay installments at maturity either in gram gold from his/her gold account or in TL equivalent of the gram gold amounted to the installment according to that day’s rate of gold.
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In order to get further information about Kuveyt Turk Gold Indexed Finance, you may call 444 0 123 or visit Kuveyt Turk branches.