Basket Account is a type of account where 85% of investments are utilized in participation accounts with advantageous profit share rates and 15% are utilized in an investment fund specially created for this account.
Who Can Open a Basket Account?
All domestic and foreign customers over the age of 18 can easily open a Basket Account.
What are the Features of Basket Account?
- Basket Account can be opened only in TRY and monthly or a term chosen by customers between 32-91 days.
- When opening the account, the minimum limit (Participation Account + Investment Fund) is 10,000 TRY.
- One customer can have more than 1 active Basket Account.
- Profit share rate of the participation account to be opened with 85% of the Basket Account balance is 95/5.
- The fund to be purchased with 15% of the Basket Account balance is the ZAY investment fund which is created by KT Portfolio.
- The profit gained from the balance of participation account is transferred to basket account on each maturity date.
- The profit of the investment fund is added to the fund balance on a daily basis. The current fund balance, including profit, can be viewed from the 'Kuveyt Türk Mobile - Investment - My Portfolio' menu.
- The profit gained from the investment fund is transferred to current account along with the amount in the investment fund when the account is completely closed.
- If the account is cancelled before the maturity date, the amount in participation account does not qualify for profit. As for the amount in the investment fund, it qualifies for the profit gained from the account opening date to account cancellation date.
- Money cannot be deposited into the Funded Basket Accounts except when opening the account. You can open a new Funded Basket Account for the additional amount you want to deposit.
- Partial withdrawals cannot be made from the participation account linked to the Funded Basket Account before maturity. In case of withdrawal from the balance in the participation account, the account will be terminated, the balance will be transferred to the checking account and the ZAY funds will be sold and transferred to the investment account with the profit. Money can be withdrawn from the ZAY fund linked to the Funded Basket Account at any time. Investment fund sale orders are carried out instantly before noon (12:30) and during the first trading hour at afternoon.
- Partial withdrawals cannot be made from the participation account balance and money can only be withdrawn from the ZAY fund balance without exceeding the lower limit.
- In case of a partial withdrawal from the participation account balance linked to the Funded Basket Account, the account will be terminated, the balance will be transferred to the checking account and the ZAY funds linked to the relevant basket account will be sold and transferred to the investment account with the profit.
- In case the ZAY fund balance falls below 5,000 TL, all funds will be sold and transferred to the investment account with the profit, and all Funded Basket Accounts will be closed.
How to Open a Basket Account?
- Our customers are required to have an investment account in order to open a Basket Account. You can easily open an investment account for free via Kuveyt Türk Mobile, Internet Branch, and all Kuveyt Türk Branches.
- A Basket Account can be opened 24/7 free of charge at Kuveyt Türk Mobile and Internet Branch, as well as at all Kuveyt Türk branches.
- If the Basket account is opened before 12.30 on weekdays, the investment fund purchase is instantaneous; If it is opened in the afternoon or on the weekend, the fund purchase takes place on the following weekday.