Yuvam TL Participation Account

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 24 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.

• 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 Türkiye,
• 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 Türkiye.

• The account can be opened with a maturity of 3, 6, 12 or 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: 3% (Annual)
  • 6-Month Maturity: 4% (Annual)
  • 12-Month Maturity: 5% (Annual)
  • 24-Month Maturity: 6% (Annual)
• The profit sharing ratio of the account is 95-5%.
• Account opening lower limit is 250 TL.
• The withholding rate to be applied specifically to the product will be zero (0%).
• Foreign currency exchange must be carried out during account opening.
• 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.
• Whether there is an exchange difference allowance or not is calculated based on the conversion rate at the account opening and the foreign exchange purchase rate announced by the Central Bank at 11:00 on the Yuvam Account maturity day. When the exchange difference return calculated at the end of maturity and the profit share return of the account are compared;
  • In case the rate announced by the Central Bank at 11.00 on the maturity date is lower than the conversion rate at the account opening; the capital, profit share, and additional return (capital + profit share + additional return) will be paid to the account holder by the bank.
  • In case the rate announced by the Central Bank at 11.00 on the maturity date is higher than the conversion rate at the account opening;
    • If the profit share amount is more than the exchange difference; the capital, profit share, and additional return (capital + profit share + additional return) will be paid to the customers at the end of maturity.
    • If the profit share amount is less than the exchange difference; the capital, profit share, the difference between the exchange difference return and the profit share return, and the Central Bank additional return amount (the capital+ profit share + “exchange difference - profit share” + Central Bank additional return amount) will be paid to our customer.
• Accounts can be renewed at the buying rate of exchange announced by the CBRT at 11:00 at the end of the maturity. For renewed accounts, the buying rate of exchange 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 the maturity date;

            - If the conversion rate at the account opening is lower than the rate of 11:00 announced by the Central Bank on the date the account is closed, the capital is transferred to the current account without deduction. Profit share is not paid.
            - If the conversion rate at the account opening is higher than the rate of 11:00 announced by the Central Bank on the date the account is closed, the decrease in the exchange rate is deducted from the capital and the remaining amount is transferred to the checking account. Profit share is not paid.

• The balance of Dollars, Euros or Sterlings 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. 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!