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Our customers abroad who convert their savings of US Dollar, British Pound or Euro into Turkish Lira can make good use of their savings in "Yuvam TL Participation Account" with a maturity of up to 12 months, and at the same time, they can gain the advantage of protecting their profit share returns at the end of maturity against exchange rate differences.

Who can open a Yuvam TL Participation Account?

  • Turkish citizens who have a residence or work permit or the right to work abroad,
  • Turkish citizens whose residence is registered as a foreign address in the Address Registration System in Turkey,
  • Those who are not Turkish citizens, residing abroad and holding a New Blue Card*,
  • Those who are not Turkish citizens and meet the conditions for opening an account in banks in Turkey,
  • Those who have a company established in a foreign country according to the laws of that country and whose legal residence is outside of Turkey, of which they are the shareholders, may open a Yuvam TL Participation Account.

What are the Features of Yuvam TL Participation Account?

  • The account can be opened with a maturity of 3, 6 or 12 months by converting the balances of US Dollar, Euro or British Pound into Turkish Lira.
  • The additional return calculated at the rates determined below (annual) over the amounts of foreign currency converted into Yuvam accounts will be paid in TL by the Central Bank;
    • 3-Month Maturity: 1%
    • 6-Month Maturity: 2%
    • 12-Month Maturity: 3%
  • The profit sharing ratio of the account is 90-10%.
  • Account opening lower limit is 250 TL.
  • The withholding rate to be applied specifically to the product will be zero (0%).
  • Currency must be exchanged on the opening date of the account.
  • The account can be opened on 24/7 basis, including off-hours and holidays. For the opening off-hours, the last rate of 15:00 announced by the CBRT is taken as a basis and for the opening on holiday, the rate of 15:00 published by the CBRT on the previous business day is taken as a basis.
  • The foreign exchange rate is calculated based upon the Conversion rate and the buying rate of exchange announced by the Central Bank at 11:00 on the maturity of YUVAM account. Comparing the foreign exchange rate calculated at maturity and the profit share return of the account;
  • In case the exchange rate at maturity is lower than the conversion rate, the bank will pay the account holder the principal + profit share + additional return.
  • In case the exchange rate at maturity is higher than the conversion rate;
    • If the profit share amount > foreign exchange difference: At the end of the maturity, customers will be paid the principal + profit share + additional return.
    • If the profit share amount < foreign exchange difference: Our customer will be paid the principal + profit share + "foreign exchange difference - profit share" + the Central Bank additional return amount.
  • Accounts can be renewed at the buying rate of exchange or gold announced by the CBRT at 11:00 at the end of the maturity. For renewed accounts, the buying rate of exchange or gold announced by the CBRT at 11:00 is considered as the conversion rate.
  • No money can be deposited into the account in the middle of the term.
  • As a result of money withdrawal of from the account before maturity, the account will be broken and transferred to the current account.
  • In case the account is closed before maturity;
            - If the Account Conversion rate is lower than the 11:00 rate announced by the Central Bank on the account closing date, the principal is transferred to the current account without deduction. No profit share is paid.
            - If the account opening rate is higher than the 11:00 rate announced by the Central Bank on the account closing date, the amount of decrease in the rate is deducted from the principal and the remaining amount is transferred to the current account. No profit share is paid.
  • The balance of Dollars, Euros, Sterlings or Golds converted into Turkish Lira at the beginning of maturity can be converted into foreign currency between 11:00 and 12:00 at the exchange purchase rate and zero percent (0%) BITT rate announced by CBRT at 11:00 at the end of maturity.
 
* Blue Card issued pursuant to Article 28 of the Turkish Citizenship Law dated 29/5/2009 and numbered 5901.

Where can I open my Yuvam TL Participation Account?

You can open your Yuvam TL Participation Account at our nearest branch, via Internet Branch, or Kuveyt Türk Mobile by choosing the maturity that suits you!