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How to open TL Protected Deposit?To open a Currency Protected TL Time Deposit Account, it is sufficient to be a real person. You can open your account with Yapı Kredi Mobile, Retail Internet Banking with a maturity of 3-6-9-12 months. You can also open your account by applying to the nearest Yapı Kredi Branch.
Interest-free exchange Is there a protected account?Citizens' savings will be protected against exchange rate changes in accordance with the principles of interest-free finance, with the "Currency Protected TL Participation Account". Customers who convert their foreign exchange denominated participation funds to TL are offered 3, 6 and 12 month maturity options.
How many days is the minimum deposit with Currency Protection?Our real person customers will be able to benefit from the Currency Protected TL Time Deposit Account. Zero withholding rate will be applied for this product. It can be opened in TL with maturities of 3, 6, 9 months and 1 year. The maturity date, which coincides with the holiday, will be evaluated as the first business day.
How much was the Currency Protected TL?
Accordingly, the amount of currency protected TL deposits (KKM) as of April 15 is 756.6. billion TL. The one-week increase was approximately 28 billion TL. Thus, the rate of KKM in total TL time deposits rose to 29.1 percent. The ratio of foreign currency and gold deposits in total deposits was 57.2 percent.
Is a Currency-Protected Account Permissible?
The High Council of Religious Affairs said, "To deposit money into a foreign currency-protected TL time deposit account, What is the religious ruling of using the surplus that will come from here?” He answered the question, “Investing in interest-bearing deposit accounts and selling foreign currency forwards is not permissible by our board.”
When does the Currency Protected deposit account start?According to the decision of the Official Gazette, KKH accounts that will be opened in TL, will not be shorter than 90 days, will not be longer than 370 days, and accounts opened between December 21, 2021 and December 31, 2022 will be able to benefit from this support. Accordingly, the deadline is 31 December 2022.
What is a protected deposit?Currency protected deposit account is a competitive deposit product that requires the difference to be paid in case the Turkish lira increases more than the interest rate against the dollar, euro or sterling at maturity. In this way, it is aimed to prevent any exchange-related loss in their savings.
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