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Interim Period Return Deposit Account

With the Interim Period Return Deposit Account, you can tie your savings with a 366-day maturity and get the advantage of withholding tax, while having the opportunity to use your interest income in monthly periods for your needs.

Account Features

  • The account can be opened in TRY/USD/EUR currency with a maturity of 366 days. This account is at fixed interest rates throughout the maturity period and interest payments are made monthly, quarterly or semi-annually.
  • Upon account opening, the account is linked to a demand deposit account opened or to be opened in the same currency. Interest earned periodically is not kept in the time deposit account; it is transferred to the associated demand deposit account at account opening.
  • The Bank reserves the right to change the payment periods subject to the approval/agreement of the Customer. These interest payment periods do not imply the maturity of the account; maturity refers to the date/duration determined for the renewal of the account.
  • The interest rate on the account and the interest payment period remain unchanged throughout the maturity/term.
  • The lower limit for account opening will be 50,000 for TRY, 10,000 for EUR and USD. Multiple accounts can be opened and there will be no upper limit for account opening.
  • Withdrawals from the account cannot be made on the maturity start date or between maturities.
  • Funds can only be deposited into the account on the maturity date and on the maturity date.
  • If the account is closed before maturity, the gross interest amounts paid for the interim period, if any, are deducted from the principal balance of the account.
  • If interest accruals fall on a holiday, the holiday is taken as the accrual date.
  • Tax deductions to be made from the interest to be accrued are calculated based on the current tax rates valid at the opening of the account.
  • Unless the customer gives a written instruction to the contrary, the account is renewed with the same maturity and conditions by applying the then current interest rate for the product in question.