Basket Account is a type of account where 50% of investments are utilized in participation accounts with advantageous profit share rates and 50% 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 50% of the Basket Account balance is 95/5.
- The fund to be purchased with 50% 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.
- It is possible to deposit additional money to the Funded Basket Account on the maturity date and the following day. Likewise, additional ZAY Funds can be purchased on the maturity date and the following day. Investment fund purchase orders are executed instantly in the morning (before 12:30). In the afternoon, orders are executed on the following business day.
- Money can be withdrawn from the Basket Account or the ZAY Fund at any time. Investment fund selling orders are executed instantly in the morning (before 12:30). In the afternoon, orders are executed on the following business day.
- The minimum withdrawal limit for the participation account and the ZAY Fund is 5,000 TL.
- In case the Basket Account balance falls below 5,000 TL, the account is broken, the balance is transferred to the current account, and all of the ZAY Funds are sold and transferred to the current account together with the profit. If there is another active Basket Account, the ZAY Fund will not be sold, only the relevant additional account will be closed.
- In case the ZAY Fund balance falls below 5,000 TL, all of the funds are sold and transferred to the current account along with the profit, and all Basket Accounts are 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.