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Exchange Rate Protected TL Participation Account

Exchange

Let your savings be valued in TL without being affected by the exchange rate difference!

When investing US dollar, euro, British pound, or gold savings in TL, it is important to pay attention to factors such as the exchange rate difference. Open an Exchange Rate Protected TL Participation Account to grow your savings without being affected by exchange rate fluctuations.

About Exchange Rate Protected TL Participation Account

Kuveyt Türk Exchange Rate Protected TL Participation Account allows you to grow your savings with the advantage of exchange rate protection. You can open a participation account with different maturity options depending on your return expectations. Moreover, you can benefit from a high profit share rate by opening an account to invest your savings.

How to Open an Exchange Rate Protected TL Participation Account

Natural persons residing in Türkiye can invest their savings by opening an Exchange Rate Protected TL Participation Account. All Kuveyt Türk customers who are paid employees in an institution or organization or who are self-employed may request an account opening in their name using different channels.

Do not worry if you are not a Kuveyt Türk customer! Visit our Become a Kuveyt Türk Customer page to check out the steps to become a customer.

Details on Exchange Rate Protected TL Participation Account

The details of the Exchange Rate Protected TL Participation Account offered with the assurance of Kuveyt Türk are as follows:

  • All payments are made in TL.
  • Whether the account holder will receive an exchange rate difference is calculated based on the data announced by the Central Bank of the Republic of Türkiye (CBRT) at 11:00 between the beginning and end of the term. According to the comparison made after the calculation:
    • If the profit share return is higher than the foreign exchange return, only the profit share payment is made at the end of the term.
    • If the exchange return is higher than the profit share return, Kuveyt Türk transfers the profit share payment to your account. The difference between the exchange rate difference and profit share returns is transferred to Kuveyt Türk in TL by the CBRT to be credited to your account.
  • You are allowed to withdraw from your account before the term date. However, when such a withdrawal is made, your Exchange Rate Protected TL Participation Account will be closed, and the remaining balance will be transferred to your current account.
  • You may also close your account before the term. In this case, the suitable one of the following two actions is taken:
    • If the foreign exchange buying rate announced by the CBRT at 11:00 on the closing date of the account is lower than the rate announced at the same time at the beginning of the term, the account balance will be updated according to the exchange rate on the closing date. This difference, which eliminates the profit share return, may decrease the principal balance.
    • If the exchange rate at 11:00 on the closing date is higher than the exchange rate at the beginning of the term, no profit share or foreign exchange return can be claimed.
  • Withdrawals and closures can be made during the day after the CBRT announces the 11:00 foreign exchange buying rate. For requests submitted on weekends, the exchange rate announced by the CBRT at 11:00 on the last business day will be taken into account.
  • The Exchange Rate Protected TL Participation Account will be available until 31/12/2023, provided that the criteria in the current legislation are met.

Advantages of Exchange Rate Protected TL Participation Account

The Exchange Rate Protected TL Participation Account provides participants with the opportunity to benefit from many advantages with its unique features.

  • You can request to open your account with maturities of 3, 6, 9, or 12 months.
  • The exclusive profit share rate for the account is 90/10%. The return rate is determined at the end of the term in accordance with the principles of participation banking.
  • The withholding tax rate for the Exchange Rate Protected TL Participation Account is 0%.
  • You may submit your opening requests to our bank 24/7. Accounts are opened after working hours and on holidays.
  • You may apply for a new account to be opened in your name without waiting for the term to expire.

Channels to Apply for Exchange Rate Protected TL Participation Account

You can apply through the following channels to have the opportunity to grow your savings with the advantages offered by the Exchange Rate Protected TL Participation Account:

  • Use our mobile application, Kuveyt Türk Mobile, or Internet Branch to save time.
  • If you wish to get support from our customer representatives during the application process, call our Customer Contact Center or visit our nearest branch.

Apply now to grow your foreign currency savings in TL with the assurance of exchange rate protection.

Do I have to wait for the term end if I want to withdraw money from my account?

You may withdraw money from your account at any time. However, please note that if there is a decrease in the exchange rate at the time of withdrawal, a certain amount may be deducted from the principal.

Can I extend the term?

Unless you request otherwise, your term will be automatically renewed when the term is due.

Do I get any profit if I want to close my account early?

If you decide to withdraw money from your account before its term, you will not receive any profit share or exchange rate difference payments. Furthermore, if there is a decrease in the exchange rate, a deduction may be made from the principal.