Kuveyt Turk’s ‘Wedding Account” for those to marry

27.04.2016

With its banking understanding based on encouraging the people not to spend but save their monies, Kuveyt Türk supports the young people to get married with its wedding account. As a new participation account enabling the people to save money for their future needs such as buying an apartment flat, the Wedding Account also offers state contribution if the required amount of money is regularly deposited with that account for at least 3 years. The investors depositing money regularly for a term of 36-47 months will be entitled to 10% state contribution while it will be 15% for a term of 48-59 months and 20% for 60+ months.

Emphasizing that the Wedding Account has been opened as a participation account at Kuveyt Türk, Mr. Mehmet Oral, Asst. Managing Director in Charge of Private Banking explains, “We ensure that the savings in the Wedding Account are invested according to the principles of participation banking. We offer a profit sharing pool at a rate as high as 95/5. As is the case for all Kuveyt Türk accounts, the holders of the Wedding Account are not required to pay any account processing fee, either.

The holders of the account are able to deposit monies on a monthly and quarterly basis; in case of monthly payments, they can deposit between 1005,58 TL and 1,055,80 TL while in case of quarterly payments, the amount varies between 316,74 TL and 3,167,40 TL. On the other hand, those who, as of the opening date of the wedding account, already have savings in an amount up to 15,837 TL, the upper limit for that account, can also evaluate that savings in that account. The payments can be made from current account or Kuveyt Türk Sale Plus credit card or from internet and mobile branch offices free of charge by direct remittance or EFT.

Right to withdraw money twice a year and delay the payment 3 times a year

If needed, the holders may withdraw the monies in that account subject to certain limits. The money in the account can be withdrawn at most twice a year. However, the remaining sum after withdrawal cannot be less than the balance as of the opening of the account. In case of monthly payments, the holder may delay the monthly payments by 3 times a year. The applicants for the wedding accounts must be Turkish national, younger than 24 years of old and with no previous marriage.